I have been to this business for the past 3- 4 years and i’ve met a lot of people with different views with insurance. Most of them thinks that insurance is just an expense. Maybe this is the reason why the Philippines’ insured ratio is just 14% comp

ared to our asian neighbor Japan with 90%+ insured ratio.

Sadly amongst the 14% maybe 50% of them don’t know what is their insurance all about. Most of them got insurance because their friend is selling them (life insurance), financing requirement and the rest just to say that their property is insured. I can say this because every time i explain the coverages, they really dont care as long as the premium is cheap.
Cheap has a lot of meaning in insurance. Agents can give you your target premium but be

wary of your coverage, you might not get what you really want! As an insurance buyer, you should first check the credibility of the insurance company then the credibility of your insurance agent then the price, not the price first and who cares about the insurance company because in that manner you are just fooling yourselves!

Correct Insurance is an asset; wrong insurance is an Expense!- Richard Ng