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  • Writer's pictureEric L. Ash

Underinsured and Exposed?

Updated: May 5, 2023

This question was recently on my mind.

In the frantic-paced world we live in today it's hard to keep a pulse on everything that's unfolding. What frustrates me the most, as an insurance agent, is when insurance is treated like a gas or oil like commodity. I would argue that this the furthest thing from the truth.

Two insurance incidents, years apart in the making, have me reflecting on why insurance shouldn't be treated like a commodity and why many households are underinsured.

About three years ago, some close friends lost much of their personal property and almost their entire home to a fire. Fortunately, no one was hurt but the impact would take years to recover from rebuilding the home to replacing all of the items lost. I'd like to think that our agency helped navigate the claims process and to help make it a little smoother.

Fast forward to last week when wildfires we're raging in the West. A close friend and his family came within a quarter of a mile of losing their home and possessions. As I recounted with him recently the immensity of the situation it became pretty clear on what could have happened. We also discussed how their homeowner's insurance recently updated increasing the replacement cost on their house based on the supply change challenges as well as increased labor prices.

That's why it's important to not treat insurance as a commodity. Price fits into the equation but it shouldn't be the end all be all when it comes to protecting the things and people you love the most.

Please contact us for an insurance review to make sure there are no gaps in your coverage.

Are you covered?
Are you covered?

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