subject: Are you choosing the right kind of Insurance Company for yourself? [print this page] Are you choosing the right kind of Insurance Company for yourself?
Most of us believe Insurance is important we insure our home, property, lives, cars etc. But many a times we don't know which company or organization to invest with, because we don't know what the technical jargon of the policies etc means. Property owners insurance, Auto Owners Insurance are all common terms but there is a difference between the kinds of benefits we get depending on of course the organization we deal with, the kind of a policy we opt for (different kinds of companies offer us different policies depending on the amount we pay and so on) and last but not the least and most importantly what kind' of a company or organization are we dealing with. And by this we do not mean to say public owned companies will give you better benefits than private owned companies or vice versa.
What we mean to say when we talk of what kind is that whether you are dealing with a mutual company or a company owned by stockholders. Or in other words who are the stakeholders in this company is it the policy holders or other normal shareholders we have in the regular stock companies. To make it simpler, we need to define the position we hold for ourselves in the company. For example, if we deal with a Bear River Mutual that is we hold a policy with a Bear River mutual company, that means we will get all the surplus benefits earned by the company (which will be divided accordingly amongst all the policyholders) and if we deal with a normal stockiest company the surplus earned will not come directly to us, it will rather go to the company reserve or maybe a part of it will be distributed amongst its shareholders (who will in this case be other people, and not the policy holder unless the policy holder externally purchases a share or shares in that particular stock).
Thus, we see that benefits are more with a mutual company. In case one has any problems or doubts regarding how much amount to invest where, what kind of a policy to opt for and so on, one can contact a Bear River Agent to help in telling you about the various options available and which one could be feasible as per your requirements and needs and financial capacities.
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