What is Insurance?  Insurance is one of those items that causes most people to run and hide.  To many, insurance is a necessary evil and the details are hard to understand.  You don't want to live with it, but you sure don't want to live without it.  You can get insurance for just about anything:  cars, homes, rentals, boats, personal propery, jewelry, health, dental, even your life itself!  There is almost nothing that some company won't insure. What is insurance in it's basic form?  Insurance is defined as a contract which transfers the risk of a potential loss, from one entity to another, in exchange for a premium.  Huh?  Basically you pay someone else to take the risk.  Lets take the example of home owners insurance.  You would be devastated if you lost your home in a fire, so you buy home owners insurance and pay someone else to take the risk.  Chances are that you never loose your home in a fire, as a result, you will likey never get your money back that you pay in insurance, BUT, if the worst does happen, you will get your home back.  Insurance is peace of mind and allows the risk of catastrophe to be spread out among a pool thousands and millions of home owners.

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Please Note: THIS IS NOT PROFESSIONAL ADVICE. If you need specific advice please seek a professional who is licensed or knowledgeable in that area.  Please note that we are not insurance experts or lawyers. We accept no liabilty and claim no validity for the information on this site. Information on this site may not be accurate.  Insurance customers should always consult their insurance company and/or agent as well as their lawyer to get a good understanding of coverage and other legal questions/concerns about their insurance policy or any policy they intend to buy.

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