Why is the insurance important in our life?

Because it helps us manage our risk against financial loss. Most of us don't have lots of money saved, so without insurance, we are taking the risk that nothing can happen to us. But if something does happen, we will be broke.

If you get sick tomorrow and needed to go to the emergency room, do you have few hundred dollars to pay the hospital bill? If you had health insurance, your insurance may be able to cover the whole bill (or most of it).

If you get involved in a car accident, do you have thousands of dollars to fix your car. If you caused the accident, you have pay damage to the other person's car and other injuries you caused to that person. This can cost at least $10,000. If you had auto insurance, the insurance company can pay for damages or pay you what your car is worth (if its totaled).

If you die tomorrow (god forbid), how would your family survive without your income? Would they need to sell the house and move somewhere cheaper or rent an apartment? Would they need to use your long term savings to pay for their monthly expenses? With life insurance, it can protect your family's income in the event that you die.

If you own a home and your house burns down, would you have the money to replace your belongings or buy or build a new home? With homeowner's insurance, it can help you pay for most of the stuff you lost, as long as you can provide some sort of evidence (such as photos) that you did had it in your home. So if you own a home, you better take pictures of all your valuables and upload it to Yahoo! photos (or somewhere).

Insurance in extremley important have you ever noticed the price of you basic antibiotic. Juts for a simple infection alone the average working person couldnt afford it. Car parts are also expensive. I most models tail light assemblies alone run between $150-$200. While myself I think the insurance business is a racket and needs serious overhall its still needed.

It would help if you specify which kind of insurance in my opinion. We have various types of insurance at various prices.....all so that we can have an estimated price for anything unexpected that happens....that goes for car, homeowners and medical insurance.......Life insurance is just to attempt to replace our income for our family, pay final expenses, pay off our debts....whatever we think is important.

Health insurance is in the business of population control, along with the government.

It helps pays for damages to the car, the home, your heath, etc.

I think.....lol

Insurance is for those unexpected financially devastating events; such as, your home is destoyed by a covered peril (the initial cause of loss), or you & your family are involved in a serious car accident resulting in a total loss of the vehicle & multiple severe injuries requiring major surgery and hospital care for those involved. Without insurance would you be able to pay to rebuild your home right away or pay the medical & hospital bills for everyone hurt in the accident? In either case if you added up the premiums you have paid for the insurance coverage I would bet it wouldn't be as much as it would cost to rebuild your home or to pay for all those medical bills.
In my State it is required by law to carry liability coverage on every car you own & drive. It is called "Financial Responsibility". In other words being accountable & responsible for your negligent or careless actions which caused bodily injury to others and/or loss or damage to the property of others. My State also requires you to have Uninsured & Underinsured motorist liability coverage. To cover you when an uninsured or underinsured driver causes you bodily injury that results in needed medical attention.
On the 3rd day of this month I was rearended by an uninsured driver causing injury to my son and I and totaling my car. I am so gratefull that the State I live in requires me to carry uninsured motorist coverage or I may of had to pay for some of our medical bills. I also carried uninsured motorist property damage which paid the remainder of my car loan making it possible for me to get another car.

The guy who hit me at 60 MPH while I was turning into my driveway? He pays his own medical & ambulance bills and replacement car, looses his license for a year and if ordered by a judge, files with DMV a SR-22 financial responsibility conformity of continued liability coverage for 3 to 5 years.

When you have to get financing from a lender to buy a good dependable car, that lender usually requires you to have comprehensive and collision insurance coverage on that car to protect their financial interest in that car, since they did put up the money for you to buy it. Now if you didn't have that coverage and you drove that car off the road & hit a tree resulting in the car being a total loss; would you be able financially to imediately pay off the loan on it? You'll need to buy another car too and possibly pay some medical bills, could you do all that, say, with your next paycheck?

Insurance is to help restore you back to where you were imediately prior to the covered loss that occured which caused you a financial hardship.

Hope this answers your question.

It's only important if you need it, and don't have it. Example:

1. The house you've worked your whole life to pay for, burns to the ground.

2. You develop cancer, and need $500,000 of treatment to "cure" it.

3. You rearend a school bus with your new car. Everybody sues you.

many reasons: health problems, death, fire in a house, hurricane, car accident, etc...

http://www.letsgobble.com/

JUST IN CASE OF ANYTHING! Just think, if everyone had basic medical knowledge, we would not need medical insurance....only accident or emergency insurance in case you need some type of surgery.
All types of insurance are a heartless rip off. the only thing worth it is life insurance in case your family is TOTALLY dependant on your income...jsut to pay bills, funerals are rip offs too.

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