In today's episode of the I Hate Insurance podcast, Rick challenges conventional wisdom about buying insurance, exposing the reality that many policies are designed to work against the very people who rely on them.
You'll hear about the stark difference between "true insurance" and what Rick calls "fake insurance" — policies that vanish the moment a claim is filed. Get ready to rethink how you evaluate coverage, moving beyond price tags and marketing gimmicks to find partners who genuinely stand by you when it matters most.
The conversation reveals the tactics insurance companies use to minimize payouts, avoid risk, and push customers toward inadequate coverage. From misleading exclusions to high deductibles that shift the burden onto policyholders, the discussion uncovers the flaws in a system built to protect its own bottom line.
With insights drawn from decades of experience, this episode offers a fresh perspective on what it means to be truly covered and how to avoid being left in the lurch when the unexpected happens.
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Enjoy!
In This Episode You'll Learn:
The difference between "fake insurance" and "true insurance," and why real insurance should be reliable and supportive during claims.
The importance of proper underwriting and not allowing clients to underinsure, as it affects the outcome of claims.
Why forming a captive insurance company is an outdated strategy that does not provide real power to the insured.
The value of reporting claims promptly and not avoiding them due to fear of higher premiums or policy cancellation.
And much more...
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