National Insurance Awareness Day Date in the current year: June 28, 2024

Insurance is a means of protection against unexpected financial losses, in which an insurance company agrees to compensate an individual or entity in the event of a certain loss, damage, or injury in exchange for a fee. The history of insurance dates back to ancient times, but insurance as we know it today began to develop in the 17th century. One of the events that spurred the development of modern insurance was the Great Fire of London, which led to the establishment of the first fire insurance company.

There are many types of insurance depending on the needs of the policyholder (a person or entity who buys insurance). The most common ones include vehicle insurance, health insurance, disability insurance, casualty insurance, life insurance, property insurance, pet insurance, travel insurance, credit insurance, and more.

Of course, no one needs all types of insurance; the choice of the right type or types depends on the person’s goals and financial situation. For example, the most popular types of insurance in the United States are auto insurance, health insurance, homeowner’s insurance, and life insurance. The first two are especially important because over 90% of all American households have at least one vehicle and because the United States doesn’t have universal healthcare.

While most people realize the importance of insurance, they often underestimate the importance of reviewing their insurance policies every now and then. The value of the items and properties you’ve insured can change over time, and your life circumstances and financial situation can change too. This is why it is extremely important to make sure that your insurance policy offers you the protection you need at any given moment.

National Insurance Awareness Day was launched in 2010 by the National Association of Insurance Commissioners (NAIC), an association of insurance commissioners (chief insurance regulators) from 50 U.S. states, 5 U.S. territories and the District of Columbia. It establishes professional standards in the insurance sector and provides insurance commissioners with the data, analysis, and expertise they need to do their job effectively and protect consumers.

The main goals of National Insurance Awareness Day are to highlight the importance of insurance, recognize the security that comes with insurance coverage, and remind people to go over their insurance plans every once in a while. The best way to observe this awareness day is to learn more about the different types of insurance and figure out which ones you need. If you have already done this, National Insurance Awareness Day is a great day to review your insurance plans to make sure they still meet your needs. And don’t forget to spread the word about the holiday on social media with the hashtags #NationalInsuranceAwarenessDay and #InsuranceAwarenessDay.