1 min read

Insurance Premiums: Changing Your Perspective

Insurance Premiums: Changing Your Perspective

The challenge: changing your mindset regarding insurance. 

Hey guys, Levi here!

By now, you know that insurance premiums have risen across the board. It's a huge inconvenience and no doubt has impacted the wallet!

Even though we know the cost of virtually everything has increased, it seems to sting a little extra when it involves insurance rates. 

But I wanted to challenge you for a minute to reframe your mindset here. 


I had a conversation recently with a confused and frustrated client about his rising premium. 

He talked about how his rates had risen but hadn't filed any claims and felt it was unfair. So, I challenged him to reframe his mindset and think of what insurance is for in the first place. 

****Remember, insurance is a risk pool of a certain geographic area or a "pool" of clients that pay insurance premiums to transfer risk onto the insurance carrier

If we carry insurance so that our belongings can be replaced if damaged or destroyed, then we should expect that to replace our items, we'd need to pay a higher premium as the cost of goods rises or inflation rises. 

I also challenged him to think about it in a "glass half full scenario." Insurance is a transfer of risk for a contract or a specific time. If you never had to use your insurance, that's a good thing! 

Let's be honest: if something catastrophic happens, the insurance company will likely be paying over what your premium costs. But looking at it from a "year over year" angle isn't the best way, even though it's what we as humans tend to do with increased rates of almost any kind.

We are framing how you think about your insurance as a tool to build your financial foundation for future success. 

My client felt differently about his situation after a challenge to his perspective, and I hope you do, too. 


If you have any questions about your coverage and current premium or want a comparison quote, call us today or fill out the form below. At Kastner Insurance Group, our team is always working to educate and assist all of our clients in making the best choices for their unique situation. 

Follow along with us on social media and through our email blasts for tips and information to keep you in the know! 

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