Thursday, 6 May 2010

Local Insurance For Me Now After My Friend's Story

MONTECITO, CA - NOVEMBER 14:  Firefighters mop...
I have to admit I don't have house or personal insurance purely because I felt that I couldn't afford it. However after hearing what happened to a friend of mine who was in the same position their tip to me was to get insured now. This is not a advert for insurance, but a true account of a fate that could have been cushioned with it.

My friend is a business man and owns a small shop which is his home as well on the second floor. Everything he has is on the premises but not renewing his insurance for the property and contents was a cost cutting strategy that was caused by the recession. Oh what a bad decision and of course he is now looking at that decision that has ruined his life.

Only two months after he had not renewed his insurance he was broken into one night, all the valuable and much of the stock of his house and shop respectively was taken whilst he was asleep. Worse was to come, the thieves set fire to the shop before they left, but a sliver lining in the cloud saved his life as the fire alarms worked and he was woken by this and got out in time. Needless to say the building was basically destroyed and no compensation of the property or possessions. He is still counting the cost right now and trying to build up another business from scratch.

The first thing he did was to get a competitive business insurance quote to make sure that he is covered from day one. Living in Illinois he found that is was more prudent to gather quotes from Illinois business insurance sources. They know the risks locally and would of course not have to supplement to account for higher risk areas. Strangely enough is was a kind of Déjà vu as he used to live in California and get cheaper rates from local California insurance companies.

Well this leaves me quite nervous as it stands. If my house was burgled or set alight I would have nothing after these events. Perhaps right now I will look up local insurance companies right here in Yambol for quotes. I can't afford it but I have to if you know what I mean. I don't want to wait until the horse has bolted and pay the price.

This of course is a tip for everyone to take note of.

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