So, my insurance agent retired and handed his clients over to his partner. I have never met his partner, so he called and asked if I would come in to meet him and go over our insurance needs. I am an agreeable sort (and, if my house burns down, I want my insurance agent to know my name and face) so I say sure.
So, I arrive – prepared to be sold more insurance. At the same time, I had been thinking about an umbrealla liability policy. So, I am ready to up my homeowners and take on an umbrella liability policy for all lawsuits. At the same time, when the dude proposes it, he breaks it down into monthly payments, shows me the number and says, “As you know (I love how they think we know everything about all areas of law), this is less than one hour of a plaintiff’s attorney’s time.”
It takes all the restraint I have (and, dear reader, I do not have much) not to say, “yes, and don’t forget that you are in this for a profit also!! So part of that represents your salary!!!!!” But, I resisted. Note my restraint.
So even though I know that the likliehood of my being sued is super low. Why do I seek an umbrella liability policy even though I know overall I will not need it? Am I paying for security? That wonderful feeling of knowing my trees can fall over on people and I am covered?
If Bob Kagan were here (maybe we should get him here), he would say I am employing a mini-max strategy. I am minimizing my risk of maximum liability. So, to buy it or not to buy it? And, is my insurance agent a lawyer red-baiter (what color should lawyers be if ocmmunists are red?)?