Brandon H

As a young single man, I could not understand the importance of insurance.  I never got sick, I did not wreck my car, and I didn’t own a home.  My thought process echoed the sentiments of most other Americans, “Insurance is a rip off!”  It was not until I grew older that I realized how important it is to secure possessions and peace of mind for me and my family.

My wife and I met in 2005.  We dated for 4 years and at this time our relationship had grown to a point where we started to plan our life together.  Naturally, insurance was a part of our plans when we discussed cars, home, and children.  We married in 2010 but did not have very good insurance.  We tried to have children for years but only resulted in failed attempts and a miscarriage.  These events were devastating and costly.  I was without a job but my wife had a great benefit package including health insurance.  This new health insurance allowed us to start seeing a great fertility doctor that was referred to us.  We finally had our beautiful daughter in 2014 and she was healthy as can be!  The average cost of a birth in U.S. is around $22,000, and thanks to our insurance we only have to pay $1,300 for the birth of our daughter.  This is obviously a very significant savings, and we were very happy.  My insurance would prove to be even more beneficial in the coming months.  Fast forward five months later, my daughter took very sick and we noticed a large red lump under her left arm.  We rushed her to the hospital when we noticed it, and we were informed that this was a form of staph infection.  They told us that she would need surgery to have this removed and it should be a quick procedure.  We were very nervous having to have this done because she was so young.  She was kept in the hospital for a few days before and after this surgery.  Our insurance was once again a life saver, as we did not have the money saved to pay for this out of pocket.

Things were going well following the surgery, until we Chelsea reached 9 months of age.  To this point Chelsea suffered from severe ear infections; we had her on antibiotics off and on for about 4 months.  Her pediatrician decided it would be best for her to get tubes in her ears.  This did not sit well with us at all.  We were assured that this was routine procedure and we should have nothing to worry about, but this was the second surgery in 5 months and she was not even a year old yet!  This surgery caused an overnight stay but it was a success.  At this time, I was employed and everything fell on my insurance.  We were able to save another few thousand dollars for this visit, and not to mention follow up visits.

Just when we thought all of the turmoil was over, adversity hit again…2 weeks after we returned home from the hospital, our townhome flooded again for the 3rd time.  We were displaced from our home and lived in a hotel for a month and a half.  At this time I was working in Baton Rouge and commuting from Lafayette every day.  This was by far the most trying time our family had to endure.  Luckily, our home insurance covered the hotel, clean-up, re-piping work, and home repair!  We would have been homeless without that assistance.

This was a few personal examples of how insurance has affected our lives in a positive way in the face of adversity.  As a people, we are usually comfortable as long as our bills are paid and our income is more than our expenses.  One thing we don’t think about until it’s too late is how loss will affect our monthly cash flow and lively hood.  For example, if I own a car and insure it with only liability coverage, other motorist will be covered in case of an accident, but what will happen if my car is totaled?  The additional money spent on the purchase of a new vehicle will outweigh the monthly savings of not having full coverage.  This can be said about insuring a car, business, or home.  When we work hard for the things we want and need in life, we owe it to ourselves and our family to protect the value of these items.

A very important factor is “Opportunity Cost”.  Opportunity Cost is not only the cost of an action, but also the cost of not pursuing an action.  Saving money by not purchasing insurance usually cost more money in the long run due to total loss.  Let’s all protect our families by securing the value of our belongings, and finding the right insurance company to do so.

 

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