The simple truth is that most people don’t really understand insurance. They know that it is something that they need to have if they want to drive or own a home. However, they don’t really understand the importance of it and why they need it.
That can be a big mistake. There are many reasons why you may need (or want) insurance for you, your business, and your family. Here are some reasons why.
Why Do You Need Insurance for You?
Automobile insurance will protect you in case you are in an automobile accident. Depending on the coverage that you have, it may cover the cost of fixing or replacing your vehicle, any other vehicles involved, and cover medical expenses that may occur due to the accident.
This covers damages to your home. If your home gets destroyed in a fire or storm, you won’t have to worry about finding the money to fix your home back up. It may even cover hotel expenses if you and your family aren’t able to live in your home while it is being fixed.
Your homeowner’s insurance will also cover liabilities if someone is hurt on your property. If someone falls and gets injured, you may be responsible for the medical bills. This can add up quickly so you are going to want to save yourself the hassle by having good insurance.
Why Do You Need Insurance for Your Business?
Business property insurance
Also known as commercial property insurance, this will cover any damages that occur to your business itself (the building) and any of your assets. This includes any tools that you use to run your business.
Business liability insurance
Also known as commercial liability insurance, this will protect you and your business if someone is injured on your property. If a customer is hurt at your business, you could be held responsible for any medical expenses that may occur. He or she could also sue you for other damages. One accident could end your business.
Why Do You Need Insurance for Your Family?
Health insurance, including vision and dental, is necessary to keep your entire family healthy. With insurance, you can rest assured that your family is getting the care that they need, without having to worry about the medical bills that come along with it. One trip to the hospital could cost you several thousand dollars. Surgeries can cost hundreds of thousands of dollars that you don’t have!
This is used to protect your family in case of your death. If your family relies on your income to pay the bills, it is important that get enough life insurance to help them get by without you. If you are still paying off your home, you may want to make sure that the mortgage is covered in case something happens to you.
Disability insurance covers your income due to missed work. If you become seriously ill and can’t work, your family may not be able to get by without your income. Even if you don’t get your full paycheck, some money coming in every week will go a long way.
Basically, insurance is used to protect you, your business, and your family from financial ruin in case something happens. One automobile accident could cost you several thousand dollars, especially if you or someone else is injured. If you lose your home and have to buy a new one (or spend a lot of money on repairs), you may end up going in debt and struggle for years to get out of it! If someone breaks an arm when they fall at your home, you are going to want your homeowner’s policy to cover it.
Contact us for all of your insurance needs. We will help you make sure that you, your business, and your family are protected.