A good insurance man should take care of the "what ifs" that come along during the course of your work week. Look at workers compensation for example. A majority of owner-operators are exempted from workers compensation coverage.

"What if you, as an owner of a business, are injured on the job, and the injury is of a serious nature. You are in the hospital for several weeks, unable to work, and in business if you do not work, you do not get paid! Workers compensation pays for 66 2/3 % of your average salary after the first 7 days, plus your hospital bills are paid in full. You are exempted from workers compensation, thus you are out of luck!

You say, "My wife works, and I am covered under her policy." Not so. You are covered under your wife's policy for non-work related incidents.

"What if you purchased what is called a 24-hour major medical policy which covers you on or off your job, and you drop yourself from your wife's policy? Chances are that this can be done without any more money out of your pocket. You can also purchase a disability policy which pays a great percentage of your income while you are disabled.

"What if you are killed on the job, or in your truck going from one job to another? Workers compensation normally pays $100,000 on death benefit if you are killed on the job. So you must replace this coverage with an inexpensive term policy.

Be sure to take care of the "what ifs" in your life.

 - Alan Williams