We are slammed by advertisements from insurance companies every day. It's all about getting the lowest possible rate. While it's great to get a low rate, you need to know what you're buying. How do you know that you're getting adequate coverage? As Allstate states it, you could be sacrificing coverage for that low rate that you got online. Besides, are you really getting a deal online in the rate bureau state we live in?
These advertisements have conditioned us to believe that insurance is a commodity. However, insurance is not a commodity. It is a promise. When the contract for insurance is bound, the insurer promises to make the insured whole in the event of covered losses.
Although we enjoy cute and funny insurance commercials that we see on television, insurance is much more than a product that insurance companies perceive it to be. It is actually a very serious business.