Jeff Perlman, Princeton
To the editor:
I can’t help but notice the plethora of ads promising to save me 15 percent on car insurance.
When I think about it, three ways I can save 15 percent are as follows:
Cutting my 2,000-calorie-a-day diet by 300 calories (saving 15 percent on meals.)
Turning off all the electricity in my house for 216 minutes a day (saving 15 percent on my electric bill.)
Shaving six days a week instead of seven (saving about 15 percent on shaving cream.)
But, I am not repeat NOT looking to save 15 percent on my car insurance!
Why? Because as a licensed insurance professional, governed by the New Jersey Department of Banking and Insurance, I know if I pay 15 percent less in insurance premium, I am more than likely getting 15 percent less coverage.
That means my assets are not 100 percent protected, and an initial small savings could cost me big-time in the long run.
Also, if and when the day comes that I need to make a claim, I’m not certain an unlicensed reptile, or caveman, or quirky TV character will be properly trained, or in the position, to advocate on my behalf.
When it comes to insurance, when one saves on the front end, one will most likely pay more on the back end. And the costs will not be entirely monetary. Inadequate insurance coverage will cost time, energy and emotional angst following a loss, as well as a percentage of one’s assets.
When it comes to managing your risk, why risk it?
Jeff Perlman
Princeton
(Mr. Perlman is a partner of Borden Perlman Insurance, headquartered in Lawrenceville.)
