Why is having insurance important?
Insurance is the one thing that could help protect you from total bankruptcy in some cases. There are insurances that are mandatory such as automobile insurance.
The reason why insurance will help protect you is in case you are in a car accident and you were found at fault, you will have to be rich in order to pay for the unbudgeted damage you weren’t counting on. Or worse you will have to buy a new car for the person you hit.
If you were seriously injured in the car accident, could you pay for your treatment and the other involved? If you were to die unexpectedly in that same car accident, could your family or loved ones pay for your funeral?
