What are the odds?

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I’m playing with this new app that should make me more organized in adding blogs to our site.  My hope is to provide you, our customer, with information you need, in a digestible format.  This post is just for fun and is just a test. The subject… what are the odds? A fitting title since we are dealing with insurance – a weird and wonderful system – yes, wonderful because it is a way for all of us to insure ourselves in case bad things happen.

Lucky Charms are great but…

Whatever good luck charms you use to help you bring you prosperity and joy, it’s no replacement for insurance.

Do you know how insurance came about?… it was born because society suffered devastating losses and there was no money available to rebuild.  While highly improbable for such a loss to occur again and so soon after re-building, it was quite possible – there had to be a better way to protect… and so INSURANCE was developed.

Spreading the Risk of the Few Amongst the Many

Insurance helps us to “spread the risks of [hopefully] only the few amongst the many”.  We all pay premiums for insurance and in the event we suffer an insured loss, we have coverage.  Types of losses include:

  • We could have loss or damage to our own property that we need financial assistance to help us repair, replace or rebuild.
  • OR… through our own actions, we may cause damage to a third party, in which case, liability insurance can help us out.

Insurance has a bad wrap and gets pounded in the media.  While it’s good for society to stay on top of big industry to make sure they are not being gouged and taken advantage of, it is important that we all learn more about these subjects and how it works – we get informed so that what works for society stays, and what needs to be fixed, gets fixed.  It’s a bit worrisome when certain stories in the media or social media get blown out of proportion or skewed; it is especially disconcerting when mis-information spreads from these stories resulting in a de-valuing of these important products and systems.  From my own experience, I’ve seen insurance as a saving grace for people important to me.  Since working in the industry, I’ve seen and heard of many more stories where insurance has benefited the public and only a handful of these positive stories are shared.

We encourage our customers to review their insurance regularly to their benefit

The only way I see the value of insurance message to stick in our minds is to inform.  I personally try and do this through blogging and also teaching my peers and people I deal with and asking them, in turn, to share this knowledge with their circle of friends.  Founders Insurance tries to do this by encouraging our clients to review their insurance at least once a year, to send information about new products, changes to products/pricing/packages and to ask you to call with any questions.  We are happy to hear from you.  The more you know, the better.

Insurance is Important Because Things Do Happen

The topic of insurance can get morbid when we get into talking about bodily injury, loss of property, or loss of life.  So, I’ve instead gone the positive route.  Someone told me that the odds are 1000 to 1, I’d catch a ball at a baseball game… and guess what… I did!  So, things do happen.  Insurance is designed to protect you against worst-case scenario – sometimes, we don’t lose it all, but we lose enough that we need assistance getting us back on our feet; getting us back to where we were before the loss.

Some thoughts I’d like to leave you with… The right insurance is good.  What’s good today may not be good enough tomorrow, so make sure you review your insurance regularly.  Buy through a licensed insurance broker to get the right advice and also to get access to more options (we represent you and shop your insurance with multiple insurance markets).

Thank you for reading today’s blog – if you have a question about insurance or your policy, contact us and we’ll do what we can to help you out.

Cathy joined Founders Insurance Group Inc in 2007, first working in IT/Operations and over the years, she has worked in every single department. In the past 10 years, she has achieved her CAIB, LLQP and CIP designations. Today, Cathy's main role is helping the commercial lines service team but she will often help out with reception, personal lines service and life or critical illness insurance teams, when needed. Cathy also is a facilitator at ITAC Inc. (Insurance Training and Consulting, Inc.) where she helps current professionals obtain their licensing levels and helps new students get into the insurance field. Cathy's work experience includes various fields such as Business, Early Childhood Education, Information Technology and Acting. She enjoys playing tennis, golf, softball, pickle ball, squash and karaoke. In the office or classroom, or on the courts, softball fields, “on set”, or just out-and-about in Nova Scotia, you’ll rarely see Cathy Bermundo without a smile on her face. Cathy is a positive and helpful spirit, making her an asset to both the Founders Insurance Group Inc. and ITAC Inc. teams, and our customers.
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