In the recent past, the US government has been at the forefront of encouraging its citizens to buy insurance so that they can protect themselves from the life uncertainties. Consequently, the citizens in the US have also responded positively to the calls by the government, and most of them have upheld the insurance culture. This is after the government has made it clear to them about the challenges that they are likely to face in case they encounter losses as a result of the hazards that surround them everywhere. As a result, there has emerged a considerable number of insurance companies that are trying to sell the insurance products to the US residents, in return for business profits. This has led to a significant increase in the level of innovation in the insurance industry as all the companies struggle to capture the greater part of the insurance market.
To tap the market opportunities efficiently, the insurance companies open units in various locations where they expect to get more market penetration. This becomes easier for them to draw potential market opportunities which would be more challenging to tap from the headquarters. In return, it becomes also convenient for existing customers to launch their claims to the companies whenever they have some. This is because it is easier to get the attention of a resident unit manager insurance than the senior officers at the head offices.
The insurance market offers a variety of insurance products to its customers. One of the products is the auto insurance product, a policy that covers cars against losses or damages that may result out of the hazards that surround humankind such as theft, accidents, to mention a few. In case a vehicle is involved in an accident that leaves it damaged significantly or totally, the owner is left aggrieved due to the loss of the car, which they could probably not afford to purchase a new one. When they have an auto insurance policy in place, the insurance company comes I and pays for the repairs of the car, and in case the car was written off, they buy a new one for the owner. This way, the policyholder is restored to the financial position that he enjoyed before the accident occurred.
The other insurance product that many insurance companies are selling to the citizens is the medical insurance cover. This is the policy that covers all the medical bills of the policyholders whenever they happen to be admitted to hospital for treatment. As we know, most of us have to get ill at some time in life, and if not us, our family members probably would. There are some instances when the treatment of the illness could take too much money that a lot of families could never afford, and if they afforded, they would be left impoverished. However, with the medical insurance policies in place, the individuals and their family members can enjoy the best medical facilities and attention, all of which would be catered by the insurance companies. For this reason, the US government has been very vocal in encouraging individuals to embrace insurance for their safety.