How Insurance Works

Larry's barn burned down and his wife, Susan, called the insurance company.

Susan told the insurance company, "We had that barn insured for $50,000 and I want my money."

The agent replied, "Whoa there! Just a minute, Susan. Insurance doesn't work quite like that. We will ascertain the value of what was insured and provide you with a new one of comparable worth."

There was a long pause before Susan replied, "Then I'd like to cancel the policy on my husband."