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05 May Why Should We All Understand Insurance
Understanding is the ability to comprehend, grasp and absorb information. To understand is to comprehend, but remember, knowing is not the same as understanding. In the case of insurance knowing about insurance is not the same as understanding insurance. Knowing what kind of insurance coverages you might need is not the same as understanding it. This is why people buy insurance based on the premium only without understanding the coverage their possible insurer has provided.
People look for insurance just like they do for bargains. Most insurance companies know we all love a bargain, but understand that we know so little about what we’re buying. A price reduction makes it even more tempting. The low premium price is appealing to all because it challenges the status quo. Insurance companies will throw minimal coverage to make you feel you bought more for less. But this level of empowerment can confuse consumers. This interferes with the ability to clearly judge whether it is actually a good offer or not. Bottom line, cheap insurance can mean poor coverage, poor customer service, bad claims service, and over all bad management of your account. No matter how you look at insurance…”cost is always relative to the services” the insurance company will provide.
Prime Insurance Company understands this. We know what kind of insurance coverage you will need. The underwriter will take the time to answer your coverage questions, will partner with you once your coverage is bound and, because we write the tough risks, we will adapt to your specific needs and concerns. Prime understands and knows that reputation is critical to our customer’s long-term relationship so we’ve made this our priority. We’re proud of our reputation in the industry because we understand that reputation is the hardest risk to manage.