Why Is Insurance Important?

Why Is Insurance Important?

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Why Is Insurance Important?

The simple answer is for peace of mind.

Think of the things we cherish most like family, health and material things such as your business, autos, home, etc. Now imagine the negative financial impact that could face you if something bad were to happen to one or more of these cherished things.  If these things were left to their own device without having insurance then many if not all of us would spend worried days and sleepless nights, which in itself would have negative effects.  Life has few guarantees and unfortunately, bad things do happen.  By making the decision to protect the things most precious to you, you transfer the consequences of those risks to something else, the insurance company.  Knowing that insurance has you covered should give you that needed peace of mind so you can better enjoy your life.

Importance of Life Insurance

Your family is the first of those precious things listed above and rightly so.  If there is one or two “bread winners” in your family and that person(s) has people dependent on them, life insurance can provide a means of financial support for the family to move ahead as best they can if that person were to unexpectadly pass away.  The proceeds from life insurance can continue to pay medical bills, car payments, a mortgage, college education, etc, so that you and your family can continue living with the financial comfort you've grown accustomed to.

Importance of Health Insurance

We don’t plan to get sick or hurt, but most of us will need medical care at some point in our lives. Health insurance helps to cover medical care costs.  The American public has been bombarded it seems over the past few years about the importance of health insurance and the possible tragic financial effects that a lack of health insurance can bring.  The Affordable Care Act has and still is being hotly debated but regardless of what your position may be, none of us should lose our perspective about the importance of health insurance itself.  Purchasing this important type of insurance can give you peace of mind.

Importance of Business Insurance

If you own your own business, sit back and think for a while about all the hours, all the work, all the “blood, sweat and tears” you’ve invested already.  With that comes the reality that things don’t always work out perfectly and if/when they don’t, you don’t want to watch your efforts, hopes and dreams disappear right in front of you.  The peace of mind that proper business insurance provides will give you a clear head to make your business successful.

Importance of Auto insurance

Most states require that you carry certain types of auto insurance like Liability insurance and No-Fault insurance.  If/when you are financing a car, the lender generally requires that you carry collision and comprehensive insurance.  The main decision we have to make when buying car insurance is to determine the most cost-effective coverage. While we all hope we never have to use our auto insurance, the potential financial consequences of not having enough can be devastating. In the litigious times that we live in where law suits are everyday occurrences, the proper kind and amount of auto insurance can go a long way in giving you peace of mind.

Importance of Home Insurance

As with auto ownership, a lender requires that you maintain homeowners insurance on your house throughout the life of the mortgage.  A house is normally the most expensive non-business cost that we obtain in life.  It is also one of the most customizable personal insurances we can buy.  While all homeowners policies cover damage to your house by fire, they probably don’t cover some items that are unique to you but not to all, like collectibles, musical instruments, more than a nominal amount of jewelry, etc.  Having the most cost-effective homeowner’s coverage for your specific needs will give you added peace of mind so you can enjoy your home.

By Craig Bruno