Surprise! Insurance Agents Recommend Buying Insurance

I have had four conversations today with insurance agents.  In all cases the agents wanted my clients to buy more insurance.  More, more, more, more. There is never enough insurance purchased. There is never a reason to lower limits. There is never a premium savings worth increasing deductibles. No risk is too small to recommend the purchase of insurance.  A bank has $25,000,000 of coverage, buy $30,000,000.  Oh, you have 30?  You certainly need 35.

Warren Buffett said, “Never ask a barber if you need a haircut.”

Is the answer ever going to be no?

How much insurance should you buy? Maybe none. Maybe a great deal.

More might not be better.  Maybe more is just more.