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How Does Insurance Work?
We have created a site to explain the basics, nuances, and myths in insurance. We cover both personal and commercial along with other specialty lines of insurance.
This site is designed to provide a quick overview of the basics of insurance. Unfortunately, buying insurance and making sure you have the right coverage for the correct amount and are not paying more than you need is not as intuitive as the online brokers would have you believe. Every state has different filings and forms along with different court precedents combined with different endorsements with different carriers and it soon becomes unlikely that you have the correct coverage.
On the more simple lines of coverage, personal auto, you are most likely required to purchase this insurance to register your car and thus have some protection. However, the endorsements, limits, and carrier will determine if and how much you get paid when a claim occurs; but at least you have some coverage. Now take a business that can often operate without any mandate or law requiring insurance and the complexities and issues that can go wrong along with state regulations for workers and you see there are a lot more variables that could go awry. The more complex the business the more things could go wrong and the more necessary it becomes to optimize your insurance.
The old saying applies aptly to insurance; you can have it cheap, fast, or good; pick two.
Please reach out if you have any questions.