Deciding whether to get or maintain any sort of insurance is a big conversation. After all, who wants to willingly sign up for another bill – especially one that only benefits you if something bad happens? You may be thinking, “I can get by with no or less insurance – what’s the worst that could happen?”
There are a variety of reasons you may be tempted to skip out on insurance, such as:
- You don’t lead a risky life and don’t often find yourself in situations where you might get injured.
- Your savings are in great shape and you have tons of money to pay for healthcare, replacement items, and other damages.
- You don’t have kids, or a spouse, or anybody else depending on you.
Let’s break down these objections.
“I don’t live a risky life.”
The important thing to know about insurance is that it’s not designed to cover predictable events. If you know that something is going to happen, you can protect against it. But insurance is designed for things you don’t even know will happen to you.
Insurance is important because it covers the life events that you didn’t see coming. Even though you may be a safe driver, a thorough researcher, or a generally healthy person, you don’t know what elements outside of your control may affect you. That’s where insurance comes in.
Plus, some insurance options can cover your assets in situations where you didn’t do anything wrong. For example, if a guest slips and falls in your home or your pet injures somebody, you may still be liable – and may have to pay. Insurance can help protect you against defense costs and other unexpected expenses that arise when others are harmed.
“I have plenty saved up.”
While your savings may be able to cover many situations, they probably aren’t never-ending. Insurance is a way to protect yourself and your savings by giving you a resource when unplanned issues arise.
Rather than depleting your savings – or using them up, and then being left without resources – insurance can help you safeguard your nest egg.
“I don’t have any dependents.”
Even if you don’t have kids, a spouse, or somebody else directly requiring your monetary contributions to their safety and well being, an unwelcome life event can still affect those around you.
Whether you wind up skipping work due to an auto accident or asking family and friends for loans to help you cover the costs of a sewer line break, unwelcome incidents in your life can have an impact on others.
Make the Decision
All of life is risky. The fact is, you just don’t know what may happen to you down the road. Insurance protects you against life’s uncertainties.
Insurance policies don’t have to be expensive, and you can cover different parts of your life with different types of insurance. For example, your homeowner’s insurance, auto insurance, and life insurance may all offer varying levels of coverage depending on your needs.
Before you make the final call, it benefits you to do your due diligence. Understand which insurance products may be right for you, and see if you may be eligible for any discounts.
Finally, understand that different insurance companies handle people and their claims differently. At Howard Hanna Insurance Services, we pride ourselves on being professional, knowledgeable, and easy to work with. We have dedicated teams of experts in local areas, ensuring that you get coverage that’s specific to your needs. Learn more about how Howard Hanna Insurance Services is different.