In terms of insurance which you absolutely have to get, vehicle insurance is the only one which falls into this category. There are of course many other insurances which you could consider, life insurance and home insurance are two which certainly spring to mind. Whilst it may be tempting to avoid these insurances, industry expert is someone who certainly believes that we should all make sure that we are covered for any eventuality. The problem with insurance is that it is an investment ‘in case something happens’ if that thing doesn’t happen, then it can be frustrating having paid that money when it wasn’t completely necessary. Regardless of this however, this is why experts like Fred believe that you should always opt for insurance.
If you have him insurance then you can be safe in the knowledge that the most you will ever have to pay out for anything going wrong in the home is the cost of the deductible which you have pre-arranged. If however you do not have home insurance, then you need to factor some emergency money into your financial planning, because when something does happen, you will want to ensure that you have the money to fix it.
Bad Things Happen
Whether we care to admit it or not, bad things do happen, both at home and in life. Anyone who thinks that something won’t happen to their property are kidding themselves and you only need to look at a house fire or a natural disaster and the damage which it does, to recognize that anything can happen, anything will happen and bad things do happen. When those bad things happen, you will be over the moon that you made the decision to get insurance.
Long Term Saving
Many people who decide against insurance, do so because they think that it is an expense which they can ill afford. The reality however is that you could spend money on insurance for 5 years and nothing happens, and then a single event could have made all those years worthwhile. What is often lost on people is the sheer expense of things going wrong in the home, a fire or a flood could cost tens of thousands to repair, if you are left to do that on your own, it could bankrupt you in a matter of weeks. When something like this does happen, the cost of the insurance really doesn’t look too bad at all.
Peace of Mind
Many people fail to recognize just how valuable peace of mind really is. The idea that you don’t have to worry about your belongings, or if you get injured and what is going to happen afterwards. Many people don’t realize just how great it feels to have that safety net underneath you and the reality is that it is worth every single cent which you have to pay in order to have it there.