It won’t be like this for long

To quote a popular country music song, “It won’t be like this for long”. If there is one thing that is constant in life, it’s change. The old New England joke is, “if you don’t like the weather; just wait a minute”. All things change; some for better; some for worse but it’s for sure they will change and to a great extent, I believe that we can influence the outcome by our thoughts and actions. If we expect good things to happen and we keep our thoughts on those positive outcomes, we will be drawn in that direction for sure. Look at your life. If you are a parent you know that everything is “a stage”. The sleep deprivation that comes with a new baby is replaced by concerns about baby proofing the house. Once you get back to a regular sleep cycle, it’s time for the terrible 2’s. If you are dealing with the realities of elderly relatives, you know that every act of kindness is a repayment for the courtesies you received from them throughout the years. They say what comes around goes around, and I think that‘s true. Every day our actions determine our future outcomes. Like throwing a boomerang; you know it’s going to come back eventually, for better or worse. These days it seems lots of us are so focused on today. We are not thinking much about tomorrow. Not that it’s bad to live in the moment, but we need to moderate our actions with an eye toward tomorrow. While we can’t know what tomorrow holds for us it’s a cinch that the basic principals hold true. Things will come back around and we need to be ready. The “basics” of safety, security and love are more important than ever. Which brings me to the insurance point in this post. In our zeal to reduce expenses because we all want to be in the best cash position we can, don’t overlook the basics of a good insurance program. Falling into the trap of thinking that you should lower your homeowner’s insurance limit (or cut back on the guaranteed replacement cost provision) because the real estate market is off, is a critical mistake. The amount you will need to rebuild your house following a loss is not going down. In fact it is still on the rise. Now, I know … it’s never going to happen to you….. but over the course of my insurance career I’ve helped many people who felt the same way but discovered later that accidental losses can happen to anyone… even you! If you want to reduce your premium by assuming more of the risk through a higher deductible, go right ahead. If you’re willing to run the risk of loosing your jewelry or fine art collection, go ahead and cut those coverage’s if you want. At least you will know exactly what you are risking and you will be doing so with intentionality. Another area to watch out for is your Liability Insurance Limits. This is the greatest country in the world! The land of opportunity for most of us, but don’t forget there are plenty of others who see opportunity in your hard earned assets. In this day and age where many of our asset values are shrinking, isn’t it even more important to preserve what you have? One of the harsh realities of life is that “anyone can sue anyone, anytime, for anything, even if it’s groundless false or fraudulent”. If they sue you, you must respond and defend yourself! One of the primary benefits of liability insurance is that most policies pay for defense cost as well as paying for the actual damages you become responsible for. Don’t skimp on liability insurance limits and ask your agent about an Umbrella – it’s the best buy in the insurance industry. Finally, I know how hard it is for everyone right now and how important it is to take advantage of a good deal. Here’s one that’s extremely underutilized. In my humble opinion, your local Independent Insurance Agent is one of the best deals available today. Did you know that most agents provide their customers with an unlimited amount of free advice and service on a wide variety of subjects including but not limited to how you can best handle “risk” in your life. Your lawyer or your CPA will charge by the hour, however most Independent Agents do not. Most are intelligent, committed, business professionals who actively contribute their time and talent to their community and possess a great depth of knowledge that is yours for the asking. Remember the old saying “ask and you shall receive” …..