Imagine going out to watch a Thanksgiving day game at a friend’s place and returning home to find some broken windows. Your mood drops from 100 to 10 in an instant. Or when your dog scares an elderly person on a stroll at the end of your driveway who falls and takes a hard blow. These events happen so suddenly that you don’t know how to respond, especially during the holidays.
Insurance not only protects you from such things but also gives you greater peace of mind. That’s why, there are many reasons why people should be thankful for insurance.
- Liability coverage
Liabilities can come knocking at any time, whether for an individual or a small business owner. Whether a customer experienced an allergic reaction to a hand-crafted soap, or a guest fell from a staircase during a house party, liabilities can take on any shape, just like a Boggart from Harry Potter. With proper liability coverage, dealing with any legal formalities associated with such liability-inducing cases becomes simple. Look at liability insurance as a social responsibility, which is an excellent way to honor the spirit of Thanksgiving.
- Financial security
Any accident or incident can result in tremendous financial loss. If there is a road accident, it becomes a huge financial liability that can only be addressed with proper insurance coverage. As a result, it is critical to conduct a portfolio analysis and obtain appropriate insurance. For example, if a small business uses a vehicle, commercial auto insurance or worker’s compensation is necessary so that proper compensation can be provided in the event of an employee’s death or accident. Exercising and enjoying financial security can only happen through enough insurance coverage.
- Safeguarding valuable items
Individuals are prone to accumulating stuff, which they store safely in their homes, tucked away in a safe corner. However, the rise in instances of theft and burglary threatens that safety. According to Statista, there had been 269.8 housebreaking instances for every 100,000 citizens inside the US. It is essential to get valuable property coverage to provide for your valuable items like earrings, artwork collections, musical instruments, and sports gear. This guarantees that on every occasion you leave your house, you do so at ease. Spend that extra hour at dinner or take that extra drink (if you aren’t driving, of course!). As you do so, you say an inaudible thank you to your wise insurance choices.
- Business support
Winter has arrived with its many challenges. For one, businesses suffer as transportation options get curtailed, roads get closed, and storms hit the power supply. According to a Forbes report, heavy winters forced Walmart to close approximately 350 of its stores. In such cases, it is critical to have a policy that compensates for lost business to pay for fixed expenses such as commercial building rent or employee wages. Investing in a business interruption policy is critical to avoiding mental and financial stress.
- Property protection
Property is one of the most important possessions in anyone’s life. We all value the homes we own and lovingly care for. Having property or condo insurance will not only give you peace of mind but will also help protect your property from damage and reduce your financial burden. You don’t have to worry for a second because of the many plans on the market to better protect your property such as homeowners’ insurance, flood insurance, renters insurance, or comprehensive plans. These policies are designed to address various concerns. Analyze your risks and choose appropriately.
- Cyber security
Online frauds harm not only businesses but also individuals, and recovering lost funds is generally difficult. The frequency of cyber claim insurance increased by around 12% in the first half of 2023, according to a report by Statista. This is driven by a significant rise in the number of cybercrimes and financial fraud. Phishing was one of the most common forms of fraud individuals faced in 2022 and it affected approximately 300,000 people in the US alone. This points to the importance of investing in a good cybersecurity insurance program. So, the next time you accidentally click on a scam link you need to worry that little less.
There are many reasons to appreciate your insurance policies in the first place. Insurance can help in solving many legal and financial problems, be it related to your family, business, or property. And when all else fails, Umbrella Insurance can provide some help when strange or unplanned for events occur. However, because there are many insurance policies available to meet all of your needs, it is important to understand what you actually need to invest in. Gonzalez Insurance assists individuals and business owners in making the right insurance choices after conducting a thorough risk assessment. Contact us to discuss your needs in greater detail.