SIR vs. Deductible – Who Cares?

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I don’t know who cares, but YOU should. Insurance seems to be a mystery to all but a few insurance professionals, but how many of us seek their advice, let alone take the time to understand it?

To begin with, remember that insurance is little more than credit enhancement. If ExxonMobil or the federal government is your landlord or tenant, it doesn’t need insurance to make you feel comfortable that it will be able to cover your claims or to stay in business after paying out a cool billion or two. Insurance is for schnooks like us. If we agree to rebuild our building, our tenants would be justified to insist we carry insurance so that our promise to rebuild would really mean something. [Read more…]

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