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How People Miscalculate Insurance Needs

February 5, 2019

 We found this in the Wall Street Journal archives and the subject matter is as timely as ever and we like Professor Olivia Mitchell’s haircut analogy to illustrate why your insurance deductibles should be high.  You don’t need insurance to pay for the routine expenses, but you do need insurance for the unexpected large losses. So pay for the routine expenses yourself, and don’t underinsure your excess liability (personal umbrella).  Read more here.

 

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Some of the Information that appears on this site is produced by Chartwell Insurance Services an independent insurance broker specializing in the personal asset protection of successful individuals. Other content is provided as a resource. The contents of all posts are informational only and Chartwell Insurance Services is not providing legal advice nor policy interpretation. If you have questions please direct them to a representative of Chartwell Insurance Services.