Believe it or not, insurance has been around since the ancient Babylonian times under the Hammurabi Code of Laws. This collection of 282 rules set a standard for business interactions across the whole empire which paved the way for justice and our modern-day laws. Among these laws was the use of insurance to help carry the risks of the business. Throughout history, many cultures were influenced by these laws such as the Egyptian, Mayan and Roman empires.
Modern-day insurance developed in England in the 17th century and was brought to Charleston, South Carolina in the early 1730’s. By 1752, Benjamin Franklin founded the Philadelphia Contribution for the Insurance of Houses which was one of the first insurance companies in the United States. They established a code for fire prevention which helped to influence laws implementing fire safety regulations in Philadelphia and across the United States.
Throughout the 18th & 19th centuries, various forms of insurance were developed to fit the growing need. The most popular types of insurance is Home/Renters, Flood, Automobile/Motorcycle, Health, Life/Disability, Long Term Care, Workers Compensation and Umbrella policies among many others.
72% of new movers indicated they will need a variety of insurance products.
Insurance benefits individuals and companies alike which, in turn, benefit all of society more ways than we realize when managed responsibly. Some of the benefits are:
- Payment of Covered Losses
- Manage cashflow uncertainties
- Comply with legal requirements
- Promote Risk Control Activity
- Efficient use of the insured’s resources
- Support the insured’s credit
- Provides a source of investment funds
- Reduce social burden
(8 benefits noted above are excerpted from a LinkedIn article -2016 by Chase Bassett titled “The Benefits of Insurance to Individuals, Organizations and Society.”)
At Welcome Wagon, our long-term partnership with agents is one we highly value, and consider them to be very important relationships. We are grateful for the opportunity to introduce new movers to agents because we know insurance is one of the most important steps in securing a new home (before and after their move) and gives peace of mind and helps recover should an accident strike. Other important insurances are health and life and the agents we represent offer Medicare and major brands such as AARP, Aetna, Humana, Florida Blue, WellCare, United Healthcare, Advent Health, CarePlus, New York Life.
Don’t forget about Insurance for your pets!
A welcome aboard to our newest partners. A shout-out to our longest-running partnerships with agents from GEICO, State Farm, Allstate, Nationwide, American Advantage, American Family and various independent agencies. Our clients span the country and our longest running have been with us for 20+ years.