Insurance is key because it acts like a financial backup when unexpected things happen. Here’s why it matters:

- **Covers the unexpected:** Whether it’s an accident, illness, or property damage, insurance helps you handle costs that would otherwise hit hard.
- **Peace of mind:** It’s reassuring to know you’re covered, so you don’t have to stress as much about financial surprises.
- **Financial stability:** It helps keep your finances on track if something goes wrong, so you don’t have to deal with major lifestyle changes.
- **Legal requirements:** Some insurance, like car or home insurance, is legally required in many cases.
- **Business protection:** For businesses, insurance shields you from risks like property damage or liability claims that could hurt your operations.

Here are some common types of insurance:
- **Life insurance:** Pays out to beneficiaries if something happens to you.
- **Health insurance:** Helps cover medical costs.
- **Auto insurance:** Covers accidents and car-related damages.
- **Homeowners insurance:** Protects your home and belongings.
- **Renters insurance:** Covers personal items if you’re renting.
- **Business insurance:** Protects your business from risks.

Having the right insurance helps keep you and your loved ones financially safe and gives you some peace of mind.