Thriving on disaster! Is that too strong of a statement? I don't think so, because I don't see it as a negative comment. Some people might disagree, believing when a company or an entire industry thrives on something that is means taking advantage of their clients and prospective clients. Not so. Dictionary.com states that the word "thrives" means "to prosper; be fortunate or successful.
Most insurance company commercials show horrifying pictures or videos of hurricane and tornado damage. They feature the remains of a burned-down house. And they show you all the ugly of being burglarized. They thrive on the disasters because that is what draws attention. That is what sells when people are seeking a new agent, or buying insurance for the first time. What pain are they relieving for you?
Insurance companies also show pictures of happy people, safe and secure in their well-insured homes. They are covertly stating that being well insured helped this family be so fabulously happy.
Which ads do you remember most? The disaster ones, of course! Fear sells. Uncertainty sells. When thinking about this, I wonder why they feel a need to push disasters so much, since insurance is required for any house that has a mortgage (which is the majority).
It is rare to see a commercial or print ad stating that one should have insurance on their contents. Though contents insurance is included with the homeowners policy, there is little discussion to determine if the amount automatically assigned is enough.
Since they are selling fear, as a certified home inventory professional, I always wonder why they don't show what happens when a policyholder has a major loss and didn't have an inventory to assist with filing the claim.
Sure, the need for a home inventory is discussed on the insurance companies' websites, but how many people actually go there? Every insurance website I visited states that they recommend everyone have a thorough inventory of their contents.
I speak with many disaster victims. Those who had an inventory experienced a much smoother claim process and recovered better financially than those who did not have this document to which they could refer. We don't see ads with people saying, "I'm so happy my insurance agent encouraged me to have an inventory!"
Reiterating my previous comment. There is nothing wrong in selling fear. Disasters move people to take action. I'm just thinking that if they showed what happens when a disaster victim can't remember enough to maximize their claim, then that would be a commercial selling fear!
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