Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect official policy nor laws 

We now find ourselves smack in the middle of political season, and lucky for us, we have about five more months of political rhetoric to look forward to. Given my love for insurance, and new found love for following the strategic discourse of our presidential nominees, I felt compelled to write about which nominee would have a more pleasant impact on personal insurance?

Donald trump prides himself as being the consummate businessman. And as such, argues that through his tax proposals, trade agreements and overall ability to manage and negotiate with the best of them, he will bring great success back to the middle class. On its face, this would presume that insurance costs for small businesses could decrease. In addition, assuming Trump is able to rev up the economy to the tune of the growth rates he’s suggested, it’s conceivable that insurance rates in general could decrease as a result of the increased profits for insurers. All in all, not a bad story.

Hillary Clinton on the other hand seems to carry a far more tempered rhetoric. Without going into the minutia, Hillary would more than likely amend and/or build on the current plans we have in place. As a result, for the most part, your current situation would stay the same, and at best, improve slightly. Obamacare would stay in place, insurance auto rates would continue to rise (due to the increase in accidents, as a result of more driving while gas prices are low), and GDP growth would continue its lethargic growth path.

Conclusion:

Trump, as the ‘change’ candidate promises quite a lot. Even if 50% of what he touts he’ll bring to the country came to fruition, most people’s insurance (personal and commercial) situation would improve. Although Hillary’s synopsis doesn’t yield the marketed insurance improvement that Trumps’ does, it does yield credibility. That is, she’s not selling a lofty dream, she’s truly expressing what she would do as president. Unfortunately, no one I know has a crystal ball and can foresee the future.  So, from a pure individualistic insurance-related cost / benefit approach, would you choose the Clinton option, or the Trump one? Being in the insurance industry, I’m pretty risk averse, thus, no need to say that Clinton would get my vote, no pun intended.

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