Showing posts with label auto insurance. Show all posts
Showing posts with label auto insurance. Show all posts

Friday, December 5, 2014

REPOST: Even An Estate Planner Can Learn A Lesson From A Car Accident

“Seeking professional help—whether medical, legal, financial, or otherwise—as soon as possible is always smart. Unfortunately our first instinct is to avoid getting help,” writes Mark Eghrari, an estate planner who survived a car accident that left him incapacitated for months. He expounds on this realization in the following Forbes article:

Image Source: livingtrustlawfirm.com

I was driving down the road with the top down on a beautiful summer evening. The scenery was beautiful, the weather was awesome, my life was great…

… and then a Jeep slammed into my driver’s side door.

It could have been worse, though. Had the other vehicle been traveling a few miles per hour faster, or had my car been less well designed to handle impacts, the Jeep could have climbed up my door and I could have had a front wheel in my lap.

Image Source: bigshocking.com

So by the time emergency workers arrived I had (basically) come to my senses. They wanted to send me to the hospital. I didn’t want to go. I assumed I was okay – a little shook up, sure, but okay. Plus I figured not going to the hospital would save time and avoid hassle.

I was wrong.

As often happens in life, I didn’t know what I didn’t know. I didn’t know I would be basically incapacitated for a few months. I didn’t know I would continue to feel constant pain in my left arm and experience numbness in my left hand.

I didn’t know I had a herniated disk or pinched nerve. (It’s still unclear which.) I didn’t know that while physical therapy has definitely helped, my physicians recommend drilling through the front of my neck to fix the problem. (An option I have yet to take.)

What have I learned?

Seeking professional help – whether medical, legal, financial, or otherwise – as soon as possible is always smart. Unfortunately our first instinct is to avoid getting help, whether because of time or money… or an assumption that things will work themselves out. Sometimes things will work themselves out – but what if you don’t know what you don’t know?

Image Source: smartasset.com

More importantly, I’ve been reminded that life is uncertain. We tend to think we’re promised tomorrow. We tend to think we can put things off. We tend to think that waiting another day or week or month won’t matter.

And then, without warning, it’s too late – and all that’s left are regrets.

Maybe you’ve thought about but haven’t gotten around to buying sufficient life insurance to ensure your loved ones will be taken care of. Maybe you’ve thought about but haven’t gotten around to planning for your retirement — and acting on those plans.

Maybe you’ve remarried but haven’t gotten around to changing your estate plan to ensure your children from a previous marriage will be taken care of. Maybe you haven’t created a living will or healthcare power of attorney to ensure your wishes will be carried out if you’re incapacitated.

Or maybe you haven’t reconnected with an old friend; you think about it but keep putting it off. Maybe you haven’t called your brother in months; you think about it but don’t pick up the phone. Maybe you haven’t visited your parents in months; you keep promising… but promising is all you do.

We aren’t promised tomorrow. We aren’t even promised later today. But we are promised right now.

You don’t know what you don’t know… but you do know what you can do right now.

Go do it.

You will always be glad you did.

The licensed agents of Freeway Insurance research a variety of insurance carriers to help find the best auto policy for its clients. Get more car insurance advice here.

Monday, March 25, 2013

The sad truth about motorists and their car insurance knowledge

How much do you know about car insurance? If you answered “not much,” then, sadly, you’re like most American drivers who can’t respond to basic questions about their insurance coverage.

This is according to a multiple-choice survey of 500 drivers conducted by Insurance.com. The average score was a dismal 32 percent, and even when accounting for the drivers’ gender, age, and location, no group scored higher than 39 percent.

Image source: britishairways.com

“We were shocked at the results,” Michelle Megna, managing editor at Insurance.com, told The Los Angeles Times. “People spend an average of $800 to $2,000 in annual premiums, but they know very little about what they have bought,” she explained.

The quiz asked 10 questions about car insurance basics. Drivers scored lowest in questions that deal with:

• Comprehensive coverage (only 2 percent got the right answer);
• Typical discounts available for motorists; and
• Factors that insurance companies use to set rates.

Image source: walker-rubber.co.uk

Although the staff at Insurance.com were not expecting perfect scores, the fact that people who said they read their entire policy scored the lowest (average score is 28 percent) is an indication that most motorists do not understand their policy. And this can lead some drivers to make significant mistakes when it is time for them to sign their insurance coverage.

Insurance experts thus advise drivers to carefully read and fully understand the policy before signing on the dotted line. And in this day and age where information about insurance coverage is easily accessible online, experts suggest that drivers seek guidance from well-versed agents, like those from Insurance.com and FreewayInsurance.com.

Image source: slaterzurz.wordpress.com

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