How Insurance Works
After Mrs. O'Toole's barn burned down, she called her insurance agent to file a claim.
She told the insurance man, "We had that barn insured for fifty thousand bucks, and we need that money immediately!"
"Just a minute there, Mrs. O'Toole," the agent replied. "Insurance doesn't work quite like that."
"What do you mean?!" she said. "The policy here says $50,000!"
"That's a maximum," the insurance man said. "What we do is will ascertain the value of what was insured, and then provide you with a new one of comparable worth."
After a long pause, she replied "That's how insurance works?!"
"Absolutely," the agent said.
"Well then," she said, "I'd like to cancel the policy on my husband immediately!"
Posted March 19, 2008 8:00 AM
Like this joke? Link to it from your web site or blog -- just copy/paste this HTML:
« Credit Card Use Expands | Home | Random | Schubert's Unfinished Symphony »
Category: Money -- Prev: Financial Topics Explained | Next: Estate Planning