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Today’s post comes from fellow S&S reader, Angela. 

4 Reasons to Buy Insurance

Insurance is an investment. Paying for insurance coverage allows you to go about your life, confident that you’ll be able to recover most (or all) of your unexpected expenses in everything from car repairs after an accident to funeral expenses after a death.

Here are four reasons to buy insurance.

It Protects Your Valuables

Your valuables are worth protecting with insurance because there are a lot of ways your valuables could get damaged or even lost. Some valuables can end up being worth a lot of money, while others can have a lot of sentimental value. Even though that sentimental value can’t be replaced by money, financial reimbursement can certainly help if you do end up losing something, having it stolen, or breaking it. You might be able to put that money towards getting something similar or something that brings you joy on an equal level.

Most renters and homeowner’s insurance policies cover belongings in your home. But if you have something extra valuable (like collectibles or jewelry), you may need a special insurance policy for that specific category.

Provides Income In Emergencies

There are times in life where you might need a bit of help. This could be losing a job or getting into an accident, and that’s where taking out insurance can provide a bit of relief where it’s needed.

Many of us will buy disability insurance, life insurance, or extra income protection. These policies can provide supplemental income in case you lose the ability to make a living because of a disability, death, or job loss. Using a public adjuster might also help you get more from your claim than usual.

Gives You Peace Of Mind

Money isn’t everything, but it offers a lot of security. Having the peace of mind that your money and your valuables are protected alleviates some of the stress of maintaining your lifestyle. Those who don’t have insurance coverage have to deal with the knowledge that things could go wrong at any time, and that they won’t be financially protected in that case. It’s often bad luck that someone gets stung when they don’t have insurance.

It can be Customized for your Needs

Not all insurance policies will apply to you. But there is an insurance policy for nearly every need. Whether it’s home insurance to look after all your belongings or insurance to protect your wedding when you get married. Anything that has a significant, financial value attached to it, should be protected. To avoid being disappointed or having to spend more money to replace belongings or income, consider getting insurance.

Insurance can be costly, but it’s generally worth the expense. Include insurance in your monthly expenses. It’ll become part of your normal bills, and eventually, you won’t even think about it.