Insurance 101

Insurance Information for Consumers

A large number of consumers view insurance as an unnecessary expense because either the government or a bank forces them to obtain insurance.

However, accidents and disasters happen without warning and cause too much damage to pay without insurance. Car accidents happen everyday and some involve deaths and complete loss to a vehicle and other property. Freeway accidents can easily cause $100,000 in damages including medical bills, ambulance fees and rehabilitation cost for persons injured, as well as repairs or replacement to the vehicles involved. In addition, there are attorney fees and defense costs for all the lawsuits that are a usual result.

Another example is the World Trade Center disaster on 9/11/2001. Insurance companies have paid out billions of dollars for property damage, loss of use, injuries and death claims for employees. If a small to medium sized business was leasing a space in the World Trade Center at the time of the attack, but did not carry insurance coverage they would most likely go out of business. However, most of the businesses operating in the buildings were insured and able to continue their operations by collecting claim settlements from their insurance company for loss of income, extra expenses for relocating and business property replacement.

For further specifics on different types of insurance please click on the links below or call us.

• Auto Insurance 101
• Home/Apartment Insurance
• Business
• Health/Life