Why do I need Insurance?

Insurers protect you and your property from the financial risk of something going on. It can’t stop something happening, but if an unexpected thing happens that is covered by your policy means you can’t pay the full cost of losing.

That means that if something goes wrong, you are less likely to use your spending or investments, borrow money, ask family or friends for financial assistance, or sell your assets to earn extra money
You do not have to rely on support from government groups and community groups that usually only help in disaster situations such as floods or fires where support cannot cover your losses and so you cannot help you rebuild your life.

You will not have money in your bank account to buy $300 new TV if your current is stolen or pay a beater panel $650 to adjust your car after the accident. Insurance protects you from the time-consuming losses that you may not have enough money in TIME IN TIME to achieve a huge bill.
Basically what insurer causes the risk of UNCERTAIN FUTURE LARGE LOSS to the insurance company for payment of small payments through payment. Therefore, the question is:

“Do I want to pay $800 sometime later if I have a car accident, or I have to pay $20 a month now and not have to pay too much if an accident happens?” people can save enough money in their bank accounts so that they can afford bad future events, and you will need to consider what kind of insurance, if it is, suitable for them.

These numbers are examples and are used to show how insurers can lose a significant deficit, future possibilities, at a small rate of payment. The question of buying insurance depends on what we, in the insurance industry, we call for the RISK AVERSION.

This means that people who do not like uncertainty and risk may be willing to buy insurance (as it reduces the risk of paying for unexpected losses) and people who prefer playing and taking opportunities will not be required to buy insurance (if they could take the opportunity to be they have no purchase of insurance, nothing of luck will happen in the future and they also don’t want to have a TV or drive around a dent car.

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