What Everyone Needs To Know About Insurance

Sep 11, 2019, 11:40 AM

Who can you count on for the fundamentals of insurance?

A few weeks ago, I was on a walk with a friend and his 15-year-old son. We talked about movies (he enjoyed “Avengers: Endgame”) and what he did over the summer (video games). We also discussed insurance. He didn’t know much about insurance — after all, he doesn’t own his own policy, and hasn’t worked with a knowledgeable, helpful agent yet.

I tried to describe it in the most basic financial terms: “You pay a certain amount, and if something goes wrong, you’ll receive support based on the kind of insurance you own.” He seemed to understand that. Then the conversation shifted into what he wants to do after graduation (marine biologist).

Of course, paying premiums and filing claims is only a small part of insurance. What you’re really doing is risk management — protecting yourself if tragedy strikes your business, your family, or your farm. The core of our company is coverage for businesses across our six-state area. Who does that include? Here’s a small sample of our audience:

  • Auto repair shops
  • Carpenters
  • Contractors (like plumbers and house framers)
  • Metal manufacturers
  • Offices
  • Places of worship

We help other types of business, too, along with home owners, renters, car owners, farmers, and more. 

Contractors insurance basics

This year, we’ve been highlighting some of our major industries. In the spring, we talked in detail about plumbers [LINK] and landscape gardeners, [LINK] and this summer we looked at framing contractors and metalists. We’ll focus on other fields where we do business in the next few months.

One of the best things about insurance coverage is that the protection it offers doesn’t have to be more than you need. Almost every policy offers what we call “policy changes,” different items you can add to (or remove from) your policy to customize it just for your family or your business. Talk with your agent to make sure you’re paying for the coverage that’s right for you. Don’t forget to keep your agent up to date on what’s happening in your life, even after you have your policy — you’ll want to make sure your policy is keeping up with your business as it grows.

There are companies in plenty of other industries that can benefit from a Hastings Mutual policy; talk to your local independent agent to find the policy that’s right for you.

The Mutual Understanding blog and Hastings Mutual videos are made available for educational purposes only. The information referred to is not an official company statement, corporate policy, or offer of coverage. Refer to your insurance policy for specific coverage. There is no representation as to the accuracy or completeness of any information found by following any link on this site. Please contact your local independent insurance agent with further questions and for more details on any insurance policy-related information you read here.

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