The Importance of Having Insurance

You may know it is important to have insurance, but do you know why you should have an insurance policy? Insurance is a way to help manage risks for you, your family, and your home. When you purchase insurance, you transfer the cost of a potential loss to the insurance company in exchange for a fee, which is the premium.

The insurance policy will help you to own a home, drive a vehicle, maintain your current standard of living, cover health car costs, and help provide for your family in the case that something would happen.

Even if you are in good health, an unexpected illness or injury could require you to pay out-of-pocket if you do not have health insurance. If you are uninsured and unexpectedly require surgery or other emergency care, your expense will be for the full amount of the services, which could be thousands of dollars. While you may save money every week by opting out of a health insurance plan, the costs of being uninsured could be much greater in the long run.

Homeowners and renters face the risk of their property being damaged by a natural disaster or a home robbery. If you are not insured, it may be costly to replace all of your belongings. You may not think your belongings are worth the insurance premiums, but replacing electronics alone could cost thousands of dollars, depending on what you own. If you are insured, the coverage can help you replace these items.

The real benefit of insurance is to reduce the financial risk and give you the support you need when the unexpected happens. If you are not sure what insurance policy you need, make sure to contact us and we can advise you on the options you have.