Boring Stuff We Need to Know
The next time you have trouble sleeping, and counting fluffy white animals doesn't do the trick, try contemplating the wonders of insurance. You'll be out in an instant. But within the legalese of our boring insurance contracts are some things we need to know. And according to a Wall Street Journal article, too many of us know too little about our insurance. For example, a recent survey found that many people don't know whether their homeowner's policies would cover the entire cost of rebuilding their homes. In some cases, the cost of rebuilding can exceed the value of a home. Similarly, many people don't know whether their insurance would pay to replace their car. New cars depreciate quickly and many policies only pay up to the current value of the car.
Matt's View
Rather than slog through the sleep-inducing paragraphs of your policies, just call your agent and ask him or her to talk you through these provisions. You might end up opting for additional coverage. At very least, you'll know what to expect from your insurance should you ever need to make a claim. And that might just help you sleep better as well.
This article filed in: Insurance
Managing Money by The Book
- "Be joyful in hope, patient in affliction, faithful in prayer." - Romans 12:12
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