National Insurance Awareness Day
National Insurance Awareness Day is a holiday that’s observed annually on June 28th and encourages everyone to pull out documents for the insurance coverage that they have and give it a quick look over. It’s important that you review your insurance documents at least once a year. Why?
To make sure that you have adequate coverage, that policies haven’t been changed by the insurance company, and that you can make sure to capitalize on any discounts that might be available. It’s also good to review insurance documents to do comparison shopping to make sure that you’re getting the best insurance deal possible.
The History Of National Insurance Awareness Day
Although many people think of insurance as a modern invention, the truth of the matter is that insurance has been around for thousands of years. Ancient civilizations such as the Greeks, Romans, and Babylonians had systems that were comparable to insurance that protected traders and merchants from financial culpability in the event of a loss.
Although these insurance systems were crude, they managed to do what they were designed to do. During the 17th century, the modern insurance industry came into existence. In 1688, Lloyd’s of London came into existence as the first modern insurance company.
They initially provided marine insurance to protect ships and cargo against losses at sea. Eventually, they would expand their operation to include other forms of insurance. As they expanded their operations, other insurance companies came into existence and the insurance industry was born.
Unfortunately, the history of National Insurance Awareness Day isn’t as clear to us as the history of the insurance industry itself. Although we look all over the Internet, we just couldn’t find out who invented this holiday, when they invented it, or why it was invented.
Sure, we can probably speculate that this holiday was created by the insurance industry at some point in time, but we have no concrete evidence that this is actually the case.
Observing National Insurance Awareness Day
We encourage everyone to go over their individual insurance policies on this day to see if they need to update, change or replace their policies.
People’s insurance needs change, insurance companies adjust their terms and conditions, and sometimes better insurance instruments come onto the market. A person needs to be flexible enough to make changes when they need to make changes, but a person has to understand what they already have.
This is the perfect day for people to check out their insurance products and make sure they have exactly what they need for their purposes. To spread the word about this holiday, people can use the hashtag #NationalInsuranceAwarenessDay on social media.