If you were to examine your life and name the single most greatest invention ever created, you would probably name your car. Without your car, you would have to walk everywhere. If you wanted to buy some groceries, and the grocery store was a couple of miles away, you’d be pretty skinny, because buying food would be such a pain in the you know what.
Many people realize that one of the burdens of driving around is the risk of crashing into something. For that we have to have insurance. But insurance is such an uninteresting subject, most people don’t like to think too much about it. We’d rather just pay our bills and get on with it. Many aren’t aware of the many secrets that lurk just below the surface.
One of the biggest mysteries to most people is the existence of both insurance companies and insurance brokers. Most people think these are the same thing. They are very different. Insurance companies are the ones that take on the actual financial risk, and pay out benefits in case there is an accident.
On the other hand, you have insurance brokers. These guys don’t provide any insurance or customer support. They make a one time fee by charging a commission when they connect you with an insurance company. This fee is the sole source of their income, and can be several hundred dollars if you have some driving issues.
The uninsured motorist rider is something you should be aware of. If you get into a wreck caused by somebody else who doesn’t have insurance, you may be in trouble if you don’t have this rider. A rider is something that is added on to your insurance policy. This particular rider will protect you from other drivers that don’t have insurance.
There’s much more going on in the world of insurance than just trying to get the cheapest rates. You need to make sure you understand all of it so you are adequately protected.
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