The Insurance Industry Doesn't Want You Thinking About This Number
A few years ago, I was helping a friend compare car insurance quotes. Like most people, he opened five tabs, entered the same information into every website, and started comparing prices. One company wanted $183 per month. Another wanted $167. One came in at $154. The cheapest was $141. He spent nearly forty minutes studying those numbers. Comparing them. Calculating annual savings. Trying to determine which option was the "best deal." Then I asked him a question. "What's the liability limit on each policy?" Silence. He had no idea. In fact, he hadn't even looked. And that's when I realized something interesting: Most people spend more time comparing the cost of insurance than the protection they're actually buying. It's like shopping for a parachute based entirely on price. The monthly premium gets all the attention. The actual coverage gets almost none. Yet when life goes wrong, one of those numbers suddenly becomes far more important than the ...