National Insurance Awareness Day

A person holding a stack of insurance policy documents, sitting at a desk in a bright, modern office setting.. — National insurance awareness day illustration

Today we're shining the spotlight on a day that reminds us to buckle down, check our policies, and secure the financial future: National Insurance Awareness Day! Usually hanging out on the sidelines of our to-do list, insurances are like the humble utilities guy, often forgotten, until that day you found out your house isn't covered for shrubbery sinkhole incidents.

When is Insurance Awareness Day?

It's national insurance awareness day on the 28th June.

An Umbrella for a Rainy Day - A History

Our journey to today’s National Insurance Awareness Day starts on the internet, where we first spotted this financial fiesta gaining traction in 2017. At that time, there seemed to be a sudden realization across 3616 people, presumably panicked because they forgot to renew their car, health, or, heaven forbid, pet insurance. The most mentions were on June 28th, 2017, confirming that special day in the calendar as National Insurance Awareness Day.

Why We Need an Insurance Awareness Day

You may wonder, between National Donut Day and National Pet Appreciation Day – where does insurance even fit? Well, this day serves as an essential reminder to secure possible future losses. It's like having a fortuneteller who can't predict what will happen, but makes it less disastrous anyway.

Sure it's Serious, But There's Fun Too!

Stitched with an element of fun, companies and individuals have weaved funny insurance related anecdotes, memes, and trivia into the celebration. Because who said discussing indemnity clauses can't come with a few chuckles?

Carpe Diem - Take Charge!

So let's celebrate this day by taking that first step – maybe it'll be finally understanding what 'comprehensive coverage' means, or actually meeting with an insurance agent without your eyes glazing over after the first 'deductible'. Ensuring we are prepared for the unforeseen isn't on anyone's fun list, but oh boy, can it be a lifesaver.

History behind the term 'Insurance Awareness'

1601

Emergence of Marine Insurance

In the year 1601, the concept of insurance awareness began to take shape with the emergence of marine insurance. Marine insurance was created to protect shipowners and merchants against the risks of their vessels being damaged or lost at sea. This marked the earliest form of insurance and laid the foundation for future developments.

1688

Birth of Fire Insurance

The year 1688 witnessed a significant milestone in the history of insurance awareness with the birth of fire insurance. Following the Great Fire of London in 1666, which devastated the city, fire insurance was introduced to provide financial protection against property losses caused by fire. This marked the expansion of insurance beyond maritime risks and into new areas of coverage.

1760

Growth of Life Insurance

In 1760, life insurance gained prominence as a means of protecting individuals and their families against the financial hardships resulting from the death of a breadwinner. The growth of life insurance brought about the idea of insurance as a tool for long-term financial security, extending beyond immediate physical risks.

1843

Birth of Accident Insurance

The year 1843 marked the birth of accident insurance, which aimed to provide compensation for injuries or death resulting from accidents. This development further expanded the scope of insurance awareness, catering to the growing need for protection against unforeseen events and bodily harm.

1861

Introduction of Health Insurance

In 1861, health insurance was introduced to address the rising costs of medical treatment. It provided individuals with coverage for medical expenses and became an essential component of insurance awareness, highlighting the importance of safeguarding against healthcare-related financial hardships.

1929

Formation of Modern Insurance Industry

The year 1929 witnessed the formation of the modern insurance industry as we know it today. As insurance awareness continued to grow, various regulatory bodies and associations were established to ensure fair practices, maintain solvency, and protect policyholders. This era marked a significant shift towards standardized policies and increased consumer confidence in the insurance industry.

Did you know?

Did you know an unusual insurance called 'alien abduction insurance' exists and has over 20,000 policies issued? So if you ever venture into the unknown, you know your insurer's got your back, or rather, your spaceship.