What Is So Great About Insurance?

What is so great about insurance?

I think about this a great deal.  I happen to be biased. I make my living at it, and I see the value in it, but I hear the gnashing of teeth from my clients as they are irritated as I quote them their annual premium at renewal.

So, crediting Greg Murphy, CEO Selective Insurance, Branchville, NJ www.selective.com – what’s so great about insurance? And, I’m primarily talking about business property and casualty insurance, but it also applies to home & auto and to life insurance.

1. Insurance puts people’s lives back together - In the event of a disaster or loss, insurance allows people to get back on track. For a small amount of money (compared to the loss) you can be made (relatively) whole. And put your life back together.
2. Insurance makes the world a safer place – The insurance industry is dedicated to stopping losses from happening before they happen.  They devote enormous resources to fire prevention, better building construction, and flood avoidance/mitigation.  You name it; they’re trying to avoid it.
3. Insurance provides a form of capital for businesses to operate – So they can operate with less equity or debt capital.  Imagine if you, as a businessperson had to personally insure every risk you took with your trading partners.  You’d have to have a whole bunch of money. Having insurance means that you pretty much operate on a shoestring budget.

I think Greg Murphy covered it very eloquently. 

Thank you for reading this.  I hope to share with you valuable information regarding business insurance on a weekly basis.

If you have any questions, feel free to go to our website www.nj-insurance.info,

email us at info@nj-insurance.info or call 800-499-4195

Sincerely,

www.nj-insurance.info