Always maintain the proper insurance

Insurance – on so many levels – ensures wealth. If you are not properly insured, you can, and probably will, create a very serious financial liability for yourself and your loved ones. Health insurance allows us to use the full benefits of good medical treatment. Car insurance will guarantee us the peace of mind of protecting our property and losses while driving the highways with uninsured drivers. Homeowners insurance allows us to protect our most important asset, because a fire, flood or burglary is a very real possibility. Life insurance will allow us to leave something to help our loved ones achieve their dreams in our absence. Remember, we must build our own dreams, but it is also our duty to help others build their dreams. I even have homeowner warranty insurance. This covers all appliances in the home – central air and heat, refrigerator, washer and dryer, range, oven, garbage disposal, hot water heater, etc. I pay $34 per month and would not live without it. As an example, last summer, my air conditioning unit went out, and you know how hot it gets in New Orleans in the summer. I called my warranty company, and they sent someone out to fix the problem. The cost was over $3,000, and I paid nothing other than my monthly warranty rate of $34. No deductible or hidden surcharges were required of me. My dryer went out a couple of months ago, and it was repaired by my warranty. The warranty covered all expenses. I did not have to touch my emergency fund, savings account or, worse still, a credit card. Some would say: “I cannot afford these insurances.” Well, keep looking for a job that offers good medical/health insurance; sell the car if you cannot afford the insurance; look for smaller insurance companies for a good homeowners policy (or downsize or purchase a smaller home); and do the same for life insurance. Stop making excuses! My church did not have the proper flood insurance, and we suffered mightily after hurricane Katrina because of this oversight. We still have not fully recovered!
Devin Oten
DO Enterprises
Writer, Public Speaker and Philanthropist