A Little History

My friends and family tease me that I am the only person they know who finds insurance interesting, and they are probably right. I do find the concept of insurance interesting but more to the point, I bet you didn’t know that “insurance” has been around for thousands of years! In some form, insurance dates all the way back to pre-history. Village folks realized that a good way to protect themselves was to band together and if one villager’s house was destroyed, they would all work to rebuild the home. They were managing their risk - and that is the purpose of insurance. In Medieval times when sea-trade became one of the main sources of commerce, ship owners wanted to protect their ships and their contents. Traveling the oceans from one port to another was dangerous to life and property. To protect their property from these risks, ship owners joined together and sent their goods in separate shiploads to avoid a loss if the vessel was damaged or destroyed. These folks were smart – they were spreading their risk. Today, insurance functions the same way. When you pay your insurance premiums, the funds go into a pool of money that pays the claims of all of folks insured by the same company. As a consumer you need to know how much (or little) insurance you have. There is nothing worse than having a loss then realizing you don’t have the insurance coverage you need to pay the claim! That’s why meeting with your agent on a regular basis to review your policies is so important. Your agent can pin-point gaps in coverage and make sure that what matters to you most is properly insured. Understanding the way insurance works and evaluating your specific needs can be a challenge. If you need help, we would be happy to be YOUR FRIEND IN THE INSURANCE BUSINESS. Call or visit us today – our office is next to the Wildflower Grill in Lincoln City Oregon and our phone number is 541-994-2884. You may also visit our website at www.charlottelehto.com to request more information, book a meeting, or view our blog at www.charlottelehto.com/blog for more helpful articles. Or feel free to send me an email at charlotte@insurancestores.com, we are always happy to help.