When Insurance is Prudent

Where do you live? Do you have young dependents? Do you drive? All these questions are linked to important concerns or possible catastrophes. How would your life be without the protection of insurance? Most people don’t realize when insurance is prudent to have in order to protect your loved ones, your property and yourself.

People tend to avoid purchasing insurance as they see it as an expensive luxury. Is it really a luxury? The main purpose of insurance is either to provide a certain financial security for your loved ones, fix, repair or replace any stolen, damaged or destroyed property. In fact, insurance provides you with peace of mind.

The idea of investing in insurance is often discarded on the account of the expensive monthly fees. In reality, many insurance companies offer competitive prices so why not shop around before making a decision? The question I want to ask you is: “Can you really afford not to be covered by insurance?”

Think of your loved ones. Imagine your spouse and your children without the comfort and security of a home following your fatal car accident. What kind of future are you providing for them? What about if you became homeless overnight as a fire destroyed your home? Can you imagine the lawsuits following a car accident?

Insurance is security with a fee. Here are a few situations when insurance is prudent to have at all times.

1)You own a house or a condominium, the last thing that you want to do is to pay for a mortgage of a home that has been destroyed by fire or become homeless. You want it to be paid off so you can replace it as soon as possible. Nobody has the finances to buy a new home and all the expenses linked to it such as: furniture, hotel, etc.

2) It doesn’t matter who comes over, if they get hurt on your property and you are not covered by insurance, you will face a lawsuit! It doesn’t matter if it was an accident or not.

3) You’re involved in a car accident for which your are either partly or totally responsible, without an insurance coverage, both material and physical damages will need to be taken care of and you may find yourself short of funds.

4) You rent a home of an apartment and as you are cooking, a fire suddenly develops, not only destroying everything that you own but also the building and others’ property. What would you do to reach a settlement with the owner and your neighbors?

5) One morning, you discover that your vehicle was stolen the previous night. You are late, you depend on your vehicle to get to work and you have no insurance. How will you replace your vehicle, on which by the way, you have not paid off yet.

6) You are the main provider of your family. You have two young children and your spouse’s salary is not enough to pay all the bills and feed the kids. You sudden pass away from a car accident. What kind of future can they look forward to?

Here are only the main situations when insurance is prudent to have in your life. Why put your loved ones through hell when you can give them peace of mind and allow them to deal with their loss? There is no reason to make life harder than it has to be! Insure your family, your property and yourself in order to prevent any hardship.