Myths and realities of insurance services

There are some beliefs regarding insurance that create a false image about its true value and importance. In Ecuador, despite working in a culture of prevention, disinformation has become allied to pretexts and fears so that people refrain from safeguarding their heritage and their families.

In the country, tragedies such as accidents, robberies, natural disasters, among others, are seen and heard. Therefore, it is necessary to understand the myths and reality of insurance services. Is it necessary to acquire them?

Insurance is very expensive

Liberty Seguros emphasizes that the cost of insurance is a relationship between the premium and the coverage that is provided. In addition, it is necessary to take into account the relationship between cost – benefit. Contracting “cheap” insurance can be a double-edged sword, as it leaves the insured vulnerable in case something serious happens.

What characteristics of the cars affect the price of the insurance?

The characteristics that make the value vary are:

• Vehicle type and value
• Motor
• Vehicle year

All insurance is the same

According to Liberty Seguros, this is not correct. Each insurance is different and fulfills a specific function. It is important that every detail of what you want to insure is explained.

Insurance is an unnecessary expense

“Insurance will never be an unnecessary expense, but an investment and a way to protect your assets and those you love the most”; They explain from Liberty Seguros.

People are advised to safeguard their assets and have confidence that insurance, as the word itself indicates, is a mechanism of protection and certainty. (I)