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First of all, how do you roll?

Remember the old Fram Oil Filter commercial?  The mechanic’s line:  “Pay me now or pay me later.”  He was telling us if we paid more for a better oil filter it would save us from big engine repair costs later.  That was a super-effective marketing slogan.  Some outfit in Norway even took the name “Fram Insurance.”  Those Norwegians are geniuses!  No biggie… the odds of Greg changing his last name from “Rummel” to “Fram” were pretty low anyway.  The question is:  are you willing to be smart and spend a few extra dollars now to protect yourself from huge losses down the road?

Another way to think about it:  insure what you can’t afford to pay for yourself.

Can you afford to pay hundreds of thousands of dollars in medical costs or lose a legal battle after an auto accident?  If not, or if you’d simply prefer not to, get higher limits for Personal Injury Protection, Liability, and Uninsured/Underinsured Motorists coverage.  You’d be surprised how little it costs a year to take these coverages to the next level.  As for insuring your autos:  If you could easily afford to replace your used car, maybe you don’t need to insure it for physical damage.  Many of you could afford to pay for lower-cost expenses like door dings, new windshields, tow bills, and fender benders. If you take on these risks by raising your deductibles, you could use the savings to raise your other coverage limits and protect yourself from big medical and legal costs that could wreck your financial future and your quality of life!

Be a smart insurance consumer.

Ask questions.  Understand the discounts you’re getting.  Realize that time spent carefully making insurance decisions is really time invested in protecting your financial future.  Do you really want to spend just 15 minutes on this subject?  No way.  Yet, some people spend more time discussing pizza toppings than they do discussing their auto policy.  You know who you are.  Find an agent who will slow down and walk you through your options and trade-offs.  You won’t regret it!