Insurance is one of those things we forget about until we need it, kind of like a spare tire. This is why National Insurance Awareness Day exists and is celebrated every year on June 28. While the origin of this day is a mystery, what’s widely known is how important insurance is in many aspects of our lives. From car insurance, to life insurance, to home insurance and more, these policies offer a layer of protection to guard us from feeling the harshest of blows by unfortunate events.
National Insurance Awareness Day - History
Insurance Birth Year
Chinese Merchants mixed their goods together on ships to limit extreme loss via shipwrecks
Fire Insurance Ignited
After a huge fire in London, Nicholas Barbon created the first fire insurance company
Health Is Wealth
Thanks Franklin Health Assurance Company for leading the way to pay for medical expenses
Surely Cars Should Be Insured
Mr. Loomis built his own car – cool, then bought the first auto insurance policy – smart
How to Observe National Insurance Awareness Day
1. Make the call
Call your insurance agents to ask about current promotions, services or lock-in rates as well changes in your premiums.
2. Go shopping for insurance
Some confident insurance companies will offer information about their competitor’s rates while trying to sell you insurance. This bold move on their part can save you time while you search for the best deal.
3. Take charge to change your rates
Whether it’s taking an online, defensive driving course, hitting the gym a few times a week, or putting in a home security system, these doable actions can lead to added savings on your various insurance policies.
Why National Insurance Awareness Day is Important
A. A reminder to check out the competition
Insurance shopping does not evoke the fun had by shoe or car shopping, but if you’re always on the hunt for the best deal, comparing rates could save you big bucks – sometimes even 15 percent or more, or so we’ve heard. Knowing your options gives you the most power and the best chance to save money.
B. As life changes, so should your policy
If job changes lead to less driving or your teenager goes off to college without the car, your insurance company might re-evaluate your rates. As for home insurance, changes in marital status and remodeling your home can affect those rates.
C. Find out about added features and services
Discounts come and go, but certain long-term promotions can help save you more money over time. If your policy isn’t reviewed until it’s time to renew, you could be missing out on added savings.