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Straight Talk about Insurance in a Tough Economy

September 15, 2009
Chris Garlasco, Owner & Managing Partner - Founders Insurance Group

Chris Garlasco, Owner & Managing Partner - Founders Insurance Group

There is a good chance that you, or someone you know, have been touched in some way by the current state of the economy. Many of us are looking for ways to cut costs and not spend quite so much on items that we deem to be “non-essential”

Each of us has our own list of what we feel are the essential material items in our lives. For me, the material things are my home, my car, my business, the wedding ring I gave my wife, my kids education fund, and my motorcycle. My very life has a monetary value to my family as well.

I am fairly certain that when it comes to material items, most people have a similar list to my own. Like most folks, I have other items, but these are the ones that represent my hard work and sacrifice.

Sadly, the items that many people are interested in protecting the most in this difficult economy are left unprotected by the choice to cut corners on coverage or claim service in the name of saving a few dollars. Even saving a couple of hundred dollars may not be in your best interest. Each day agents across the country are receiving calls to lower prices and cut coverage and claim service. Some agents are willing to do just that in order to preserve a client. Most are not.

When we think about protecting the material items that are most important to us, are we placing that as an economic priority over other items in our life? Are we willing to spend what may amount to an extra fifty cents a day or the price of a great dinner and a movie over covering our assets?

Insurance should be considered a priority in these economic times right alongside the items that we are trying to protect thorough this recession. If an insurance company is offering you a $500 savings, be careful, it may cost you a lot more in the end.

Thank you for taking time out of your busy day!

Chris Garlasco

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