Getting the right mix of insurance can make the difference between building back completely and compromising with your quality of life. One of our clients is from wildfire country in California, and she recently told me how insurance allowed her to completely reclaim her life after total devastation.  

Seven years ago, her house burned down to the ground during an outbreak of fires. She and her husband had five minutes to get out — her husband didn’t even take his glasses, and she didn’t take her wallet. They thought they’d be back, never anticipating the destruction that followed. 

However, this couple was very fortunate because they had a terrific insurance broker. Every year prior to the fire, the agent reviewed their policy and upped the coverage. It took them two years or more, and they were able to rebuild their home on the same property and to do everything they wanted. For the two years that they were living in an apartment, the insurance paid for that. They even paid for their dogs to have doggy daycare. 

The process went on for years, because it took our client a long time to figure out what was missing. Because there are things that you don’t use everyday that you forget about, especially in the kitchen. And they were reimbursed for the replacement value of the lost items. 

It was just so fortunate for them that they worked with a really terrific insurance broker to have the best property and casualty insurance they could have. She told me the other day that she’s in the best financial shape than she’s ever been in. It’s just pretty amazing what you can do if you’re proactive with insurance.

I think a lot of people, sometimes don’t want to spend the extra money, so they raise their deductibles to have lower premiums, or they cancel one part of it. They think they don’t need it. I know if you have an older car, sometimes people don’t think they need collision insurance, or people living in areas of Florida or other beachy areas are self-insuring instead of having flood insurance.

I really feel that it’s important to talk to a very well informed insurance broker, so you get the best policy. Even for life insurance; things change, situations change. You might’ve taken out a low-cost term policy when you were just young or just starting out. Then, the next thing you know you’ve got a couple of kids. You’re married with a couple of kids. Something happens and you don’t have the right insurance policy. You don’t have what you need.

In all areas of insurance, it’s always important to speak to the right people: the people that are independent brokers. They’re not tied to any particular carrier, and they can help you source the best prices. Most are always happy to give you a review of your current policies. The good ones will tell you, “You don’t need to replace this. What you have is good,” or they’ll tell you, “You know what? You need to replace it.” You have to trust them. 

The best person to talk to about insurance is a licensed broker, but JHA can get you on track with a great referral. Contact us to learn more.