Answers

Personal Insurance 101

Personal Insurance 101

Insurance isn’t always easy to understand. That’s why in this series, we will review some of the fundamentals of insurance, including what is insurance, when you should consider submitting a claim, and what surcharges are.

As always, if you have any questions, we’d be happy to talk with you. Click the Text Us, Call Us, or Email Us buttons below to get in touch.

Transcript

Insurance 101

When we think of insurance, we may feel that since it’s there for us, we should use it whenever needed. While this is partially true, let’s take a deeper look.

The purpose of insurance is to provide a safety net so that if you have a significant loss or damage to your property, you wouldn’t have to pay for it out of pocket.

So that begs the question, when should we use insurance?

It’s not always clear cut, but here’s our suggested rule of thumb.

If the cost to fix the damage caused to your home or vehicle will cause you a financial hardship, consider using insurance.

Here are some questions to help you decide whether to use insurance.

  1. How much is your deductible? When you submit an insurance claim, you’re responsible to pay for the deductible. If the cost of your deductible is similar to the cost of the damage, you may consider just paying out of pocket.

  2. Could there be a future surcharge? See our video about surcharges to learn more about this topic.

If you’re unsure and would like some advice, please reach out to your Lacher Team. We’d be happy to help you through it.

The bottom line:

If the cost to fix the damage caused to your home or vehicle will cause you a financial hardship, consider using insurance.

Contact your Lacher team to learn more.

    Summer Hours

    We will be closing at 3:00 pm on Fridays from June 7th through September 6th. However, we are still available by phone, text, or email during those times. 

    Office Closed

    Our office will be closed today, June 19th, from 8 am – 1 pm for a company event.

    We look forward to serving you when the event concludes. Thank you!

    Right Menu Icon