17 Adara G

I am 17 years old and reside with my aunt and uncle.  I was not really aware of the importance of insurance until the last couple of years.  I have always heard my aunt and uncle discuss the types of insurance they carry, the premiums and the different insurance agencies available in our Maysville area.   But I did not really understand.

In March 2016, my aunt and uncle bought me a 2005 Toyota Camry so that I could drive to school my senior year and would be able to drive back and forth to Morehead State University in the fall.  The first stop they made was at our insurance agent’s office and they purchased full coverage insurance on my car.  They told me the car was worth twice what they paid for it. In the event, I wrecked it, or someone ran into me, my car was fully covered.  It is a feeling of security knowing that if I am involved in an accident, my car will be fixed.  In the event, it is totaled, it will be replaced.  If the accident is my fault and another automobile is involved, my insurance will take care of their car also.  I am fortunate to be able to have a car and to have full coverage as opposed to just liability, which would only repair the other car.  My aunt and uncle paid for the first 3 months premium but with income from my part time job, I have been paying my own insurance premium of $100.00 quarterly.

I got my driver’s permit in April and when I applied for my full license in November, I had to show my insurance card in order to get my license.  My aunt fixed up an envelope for me that included my registration and my insurance card so that it was always with me in my car.  Good thing, too!  One evening about 12:00 pm, when I got off work, I was stopped by the police!  They were checking to see if I had my seat belt on.  I was in total compliance with every requirement!

Our automobile insurance is with a local insurance agency.  We personally know the owner of the agency.  I go to school with his daughters and they are all long time friends.   And Rick, the owner of the agency, always takes care of us in the event we have a claim.    Last year, a deer jumped across the road and into the front end of my aunt’s car doing approximately $2500 worth of damage!  It looked awful!  She called our insurance agent’s office and reported the accident.  They, in turn, told her to take it to the repair shop and get estimates on repair.  Our insurance paid for a rental while her car was in the shop so we were not inconvenienced at all!  The insurance agent was wonderful – working to get an adjustor to come look at the car and ok the repair.  In less than a month, her car was back on the road, good as new!

We also have property insurance with the same insurance agency. By combining my uncle’s truck and car, my aunt’s car, my car and our property insurance, we receive a discount which helps reduce the total cost of all our insurance.  I know if you have a mortgage loan on your property, you are required to carry property insurance but my family considers insurance most important to them in the event of a loss. They continue to carry full coverage on our home and our automobiles.

The importance of property insurance was reinforced in my mind last August 2016 when our city was hit by a really bad thunderstorm with thousands of lightening streaks!  The lightening hit our house!  Fortunately, the house did not catch on fire but we had significant damage to many of our appliances.  We had four TV’s, four TV satellite receivers, our desktop computer, our entire landline phone system; the coffee pot and our air purifier were all damaged!  We had to have our incoming phone lines rebuilt and part of our internet hardware.  It was a mess!  My aunt immediately called our insurance agent and they told her to get replacement costs on all items.  We made a list of everything that needed replaced and the cost of each item.  Our insurance company was very prompt in paying our claim minus our deductible.

It is such a good feeling to not only have such a great insurance agent but to have insurance with a company that provides such caring concern and handles each claim in a personal way that makes you feel  special.  The prompt service, caring and concern is why we are not tempted to shop around to find another company to save a few dollars.  And they are our friends.  Since our insurance agent is local, we just stop in the office whenever we have a question or a change needs to be made.  The staff is always very helpful and welcoming.

My aunt and uncle have health insurance, as do I.  I had some issues with my stomach last year, which were later diagnosed as IBS.  My aunt drove me to the emergency room twice to find someone that would help alleviate my severe pain.  The doctors in the emergency room were very responsive and soon determined my problem.  The best of all, my pain was gone and my health insurance paid the entire bill because I had full insurance.   Who knows what the total cost of the emergency room would have been?  I’m sure several thousand dollars!  That would have been stressful to receive a big bill from the hospital!  Insurance gives you a feeling of security at a time when you are trying to deal with a stressful situation.

Also, when I came to live with my aunt and uncle, my aunt took out $25,000 life insurance on me.  This insurance covers me in the event that I ever lose my life in an accident.  She says it is financial security if a tragedy ever happens and that in the process of grieving; our family won’t have the additional stress of financial insecurity.  Makes good sense to me!  It sounds morbid, but it is just practical for all of us to have less stress in the event of a tragedy.

We have $500.00 deductible on our automobiles and $1000.00 deductible on our property.  That means when we have a claim, we are paid for the cost, minus the deductible.  You can choose different deductibles and different features in each policy to fit each individual’s needs.  My family has decided to have full coverage on all.

I was not aware of the value of insurance and am so fortunate that my aunt and uncle have shown me the value of property insurance, automobile insurance and health insurance.  I have learned a fabulous lesson and definitely understand why all people need insurance to insure they have a happier, less stressful life in the event of costly damage to our property or cars.  Also, our savings accounts are not depleted trying to pay off doctor and hospital bills.

Everyone should have insurance!

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