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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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