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Tuesday Morning Insurance Tidbit - Premium


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Happy, happy Tuesday!!!!!!!!!!!!


     Ah ... I know that summer is never long enough, but fall has finally started to settle in on Sheridanopolis, and I could not be happier.  It is my favorite time of year.  Cooler temperatures (but not too cold), the smell of the air, the brisk mornings.  What is not to love!  I hope that wherever you are, you are making the best of this time of year.

     Today in the TMIT I want to address something that has needed addressing for a long time, the word "Premium".  What does it mean?  Well, it actually means a lot of different things.  According to Merriam-Webster a "premium" is defined as, "A sum over and above a regular price paid chiefly as an inducement or incentive."  It also means, "The consideration paid for a contract of insurance."  Ha, there is how it relates to insurance.  However, it is also defined as "A high value in EXCESS of that NORMALLY or USUALLY expected."  OK!!!!!!!!  Now we are at the root of what today's posting is about!!!!!!!!  Clever, right?!?!?!

     Although many of us associate the term of "Premium" to mean the money we that we pay in exchange for an insurance policy the issue that I have been seeing across the board is that many of you are being gouged in the way of your premiums.  I have had so many distillers getting in touch with me over the past month saying, "Hey, InsuranceMan 2.0!!!, would you be willing to take a look at my policy?!?!?  I think I am paying way too much!"  Yes, the OTHER definition of premium.  I have discovered, through looking at about two or three dozen policies recently that the majority of you out there, those who do not have insurance through me, associate the word premium with the OTHER definition of a high value in excess of that normally or usually expected.  AND YOU ARE RIGHT!!!!!!!!!  

     Good night, Irene!!!!!!  I have to tell you, I recently saw a policy come across my desk where an insured was paying nearly $50,000 for his insurance, I poo you not!!!!!  50-GRAND!!!!!!!!!  That is an insane amount of money for distillery insurance.  And it is not like it is GINORMOUS "Big-Boy" producer.  Don't get me wrong, it is a nice operation, but no where near the 50K mark.  Anyway, it turns out I was able to secure him BETTER coverage for less than half the money, and actually cover him for all of the exposures he had, not just the one that was listed on his excessively expensive policy.  Do you know why?  Do you know what the difference was?!?!!?!?  It is the thing that I have seen dozens of times over in the last month and that thing is, the other insurance agent DIDN'T KNOW WHAT THE H311 THEY WERE DOING!!!!!!  UGH!  If I ever get my hands on some of the evildoers, I swear, it will look something like this ...

bam pow cartoon message text

     Anyway, I am so enraged when I see the good people of ADI-Ville being taken advantage of by these dunderheaded-muddlenoggins!  They simply do not belong in the insurance world, let alone writing polices for distilleries that they do not know anything about!!!!!!!  Grrrrrrrrr!!!!  What is happening people??!??!  I know exactly what is happening.  Many of you don't know where to turn for insurance so you reach out to someone you know, someone down the street, someone that you happened to see an ad for on a bus speeding by maybe, but you are playing Russian Roulette people.

     The client that I spoke about above before my amazing fight scene depicted above was paying twice as much as he should have been.  And that was not just for one year, two years would be horrifying, but he was paying this for the last three years.  Truly grotesque!!!!!!!!!  Think about that for a minute.  He was paying $25,000 a year TOO MUCH for three years.  For those of you that are still reeling from the fight scene, let me assist you.  That is $75,000 wasted over the course of three years.  Imagine what this distiller could have done with an extra $75,000!!!!!!!  You all know what he could have done with that.  Increase his profits, keep out of debt, hire someone, marketing campaigns, new equipment, the list is endless.  But no, he wasted it on an insurance evildoer who didn't know what they were doing and this good distillery citizen paid the price.

     Well, enough is enough people!  Do not let these vile evil insurance people abscond with your hard earned money any longer.  Call me, please, for the sake of all things holy!  I am not saying you have to use me, but at least call me for a second opinion.  Chances are you will end up working with me, but let me at least show you that things can be better and done correctly when it comes to you policy, and often for much less.  Let me get you back to associating the word "Premium" with the best definition.  The definition that I associate this word with, and that is "of exceptional quality."  

Until Next Time Dear Reader,

Stay Vigilant,

Aaron Linden

InsuranceMan 2.0!!!


aaron@roaringforkins.com or insuranceman2.0@yahoo.com

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