No Insurance? Expect Lightening to Strike Twice

This weekend I heard an interesting story that needs to be shared. A man was telling about his family (6 brothers and 4 sisters) and how all the kids enjoyed playing with matches. He talked about how fires had been started in the house 4 times, but it was never particularly devastating.

Thinking their troubles with kids and matches had finally come to an end, and that lightning couldn’t strike twice, this man’s father cancelled his fire insurance. Not long afterward by sheer accident (none of the kids involved), a fire was started in the garage that worked its way across the house and took off the entire roof.

With the economic struggles of this economy, you’re naturally going to consider canceling your insurance to save a dime. Now, not only is that unwise, but in many cases it’s illegal. Mortgage lenders will not let you have a mortgage without home insurance to accompany it. The state in which you live requires that you have auto insurance. So you can see that giving up house insurance and car insurance altogether is an unwise thing to do.

However, you might be tempted to go with a “cheaper” policy. Cheaper generally means that you’re only receiving the minimum possible  coverage. “After all,” you might rationalize, “what are the chances something is going to happen and I’ll need insurance before the economy picks up.” Perhaps you’ve already experienced a flood and decided it won’t happen again. So, you minimize your insurance coverage.

Now more than ever you need every bit of protection you can possible get through insurance. When you don’t have extra money lying around, you can’t afford to replace or repair your car, house, boats, ect. Expenses for each of those could be in the thousands (and for your home it could be in the tens of thousands.)

It’s tempting, yes. Especially if you’ve already used your insurance policy a time or two to make repairs or cover expenses. But before you rationalize that you won’t need that  coverage for a while, consider these facts about lightning striking twice:

  • The shuttle launch pad at Cape Canaveral frequently gets hit by lightning, sometimes twice in the same storm
  • A park ranger was struck by lightning seven times over the course of his career
  • The Empire State Building gets struck by lightning approximately 25 times each year
  • Commercial airliners are struck by lightning about twice per year
  • One woman lost 3 husbands the same way – they were all struck by lightning

Needing insurance is just as unpredictable as lightning. You really never know. So the best thing you can do is make sure that you get an insurance policy good enough to cover any expenses you would not be able to pay on your own. Don’t leave your possessions to chance.

If you are interested in looking at other options, feel free to contact one of the insurance reps at Arizona Capital Insurance. They can help you seek out the best coverage at the best rates. And maybe they’ll be able to save you a dime or two.

Now, considering the nature of this post, we’re hoping you’ll post a few comments. Not about lightning striking twice, but times when your insurance coverage saved your bacon, for the very same reason. Maybe you had a child get into an accident at the very same intersection twice in one year. Those are the stories we’re anxious to hear. Thanks for your feedback and let’s hope lightening doesn’t even strike once.

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