One of the most important things a person needs is insurance; it is an integral part of your future financial planning. A lot of people don’t take the necessary provisions to make sure their family and themselves are safeguarded against numerous unpredictable things that can happen. Instead, people just assume nothing “bad” will ever to them. This thought process could end up costing them a considerable amount of money. Everyone should have most of the different kinds of insurance available if they want to live a worry free and comfortable life.


Transfer Your Risk

The principal reason that you need to get insurance is to transfer the risk. Insurance permits you to transfer any financial risks from yourself and family to the insurance company. The insurance company is already prepared for this risk since they charge their customers premiums for the insurance plans and this provides the insurance companies with large reserves of money. In the event you need to file a claim, your insurance company already has the money at their disposal to pay you. to their customers and keep a large amount of money in reserve.


Protect Your Property

Home insurance and renters insurance is one of the best types of insurance to have, it protects you and your family in the event something happens to your home. You will be able to have any lost damaged property repaired or replaced. Renters insurance is slightly different it replaces your personal items, while homeowners replaces personal items and property. damage occurs. It makes it possible for you to avoid saving money for these expenses on your own.

The same applies for auto insurance, motorcycle insurance, boat insurance, or other insurable recreational items. Even DUI insurance and an SR-22 form filed with the DMV that states you have auto insurance By having insurance, you are protecting your property and your way of life.


Protect Your Family

No one wants to think about life insurance – life insurance to most people means they died or a loved one died, it’s sad but it is a fact of life and everyone should have some type of life insurance policy. If you are the main ‘bread winner’ of the family, you should have a considerable more life insurance than your partner. You may even want to consider your children’s educational future, how long it will take for your family to get back on their feet and to find that new ‘normal’ and be able to function and survive. These are all things you should take into consideration when deciding how much life insurance you need.  


Health Insurance

Health care can be very expensive and it is required by law that each individual has a health insurance policy of some sort. Therefore, health insurance is the second most important (after life insurance) that people should look very closely at before deciding on a policy.


Many surgical procedures costs thousands of dollars, if you do not have insurance or even good insurance you will be in debt for the rest of your life. Some debt is expected but certainly not from health bills, your debt should come from living and enjoying life.