Why Buy Insurance

Why do I need to buy insurance?

Kasprzak Insurance - Insurance - Frequently Asked Questions

  • Protects your assets against attachment as a result of a court award.
  • Provides for cost of defense when you are sued.
  • Allows you to purchase such high value items as a car or a home by insuring the collateral on behalf of the financial institution that lent you the money.
  • Provides financial security for your family in the event of your death.
  • Provides for the health care of you and your family through systematic payments.
  • Allows you to save for retirement while deferring interest payments to a time when your income is lower, thus reducing your tax payments.
  • Allows you to remain financially solvent when you’re ill and can’t work.

What factors affect the insurance premiums I pay?

  • Claims activity including such costs as medical care, auto body repair, construction, legal defense, jury awards, claims adjustment, and insurance fraud.
  • Overhead including rent, utilities, employee salaries and benefits, office supplies, equipment, and furniture.
  • Investment income.