Why Should I Maintain My Insurance

There is still joy in life as Olaf found when he met this cat. We had to have a talk with him about social distancing as it reduces the risk of becoming ill.

Covid 19 has created so much uncertainty and pressure on our ability to afford the basics to maintain our daily lives. We look to each other to build support in our local communities and to our national government to provide supplies, money and resources to sustain these support groups and ourselves.

The National Governments primary goal is to ensure that our population is not constantly worried about how they can obtain the basics of life, including; medical care, education, home, food and water and safety for yourself and your family

Insurance provides protection for you, your family and businesses. Insurance acts in the same manner as social programs provided by your government so that; "The Many Pay For The Misfortunes Of The Few". Some insurance is mandatory such as Auto Insurance or Workers Compensation, most you can choose to purchase or not.

What can you do to ensure you have the insurance you need and lower the cost of your insurance:

• Talk to an Insurance Broker that will focus on reviewing your insurance needs and not selling you insurance
• Increase your Deductibles and take on more of the primary risk
• Review your limits to make sure they are sufficient or can be reduced
• Evaluate your activity and determine what "Premium Basis*" can be reduced
• Review your activity with your insurance broker to determine what policies or portions can be canceled or reduced
• Talk to your insurance broker or insurance company about any discounts, forgiveness or delayed payments they are offering
• Review with your insurance broker about actions or inactions you can take to reduce your exposure to loss to reduce your insurance premium.i.e., Taking all of your precious items such as jewellery and storing in a safe deposit box for a discount on your insurance or cancelling it until your revenue is back
• You can ask if you hand in your plates or your drivers license, plus store your vehicle off a public road, would you insurance company discount your insurance

*"Premium Basis" is what an insurance company uses to establish your premium.i.e, Payroll for a Workers Compensation Policy

Insurance is based on trust between you, your insurance broker and the insurance company. The higher the trust level, the more the insurance companies will do to assist you. Trust means you communicate the facts to the insurance company and follow through on any actions you agreed too and if you are not able too you communicate this right away to the insurance company

We are all going through this together reach out to your insurance broker as it is their job to stand and support you during tough times. If you do not have an insurance broker find one you trust.

One of the cheapest ways to feel better is to take a few deep breathes and refocus, it is FREE!

KEEP CALM and SMILE LIKE OLAF