Having insurance might reduce one's concerns about the prospect of losing property or being injured in an accident. However, is it prudent to spend money on insurance when a claim may never be made? Is maintaining a spare tire in the car a waste of money, even if it is never used? The driver's sense of security may justify the cost of the extra tire. While financial compensation cannot replace certain losses, it can help to compensate for others. Individuals acquire a wide range of insurance products, including property, liability, health, disability, and life insurance.However, whether or not to have insurance is a personal decision.
You ask a great insurance question. As the saying goes, "better to have it and not need it, than need it and not have it." Deeper than that. Insurance is about peace of mind, not just money. You wouldn't train for a fight without a mouthguard, even if you want to avoid a punch in the face, right? Same with life, guy. You must safeguard your assets, health, and family. Having a safety net in case something goes wrong. You may never use that spare tire, but knowing it's there gives you confidence to drive. The same with insurance. Investing in your peace of mind lets you focus on what matters most