Tuesday, July 6, 2010
Home and Auto Insurance a Waste?
Even if you never file a claim against your home or auto insurance I do not believe they are a waste of money. First, they are legally required so if you got pulled over and were not able to show you had at least the minimum amount of auto insurance then you could get a large fine, and possibly lose your license. Secondly, having insurance gives you piece of mind. Knowing that your home and car will be protected against natural disaster or an accident. Of course you need to be aware of what your insurance policy covers. If you do not have insurance you may set aside money to be used in case of an accident. But, if you had insurance you could use that money for other savings, such as a vacation or college fund. Finally, even if you have never filled a claim before it is still wise to keep your insurance because you never know when you may need it!
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Kelly,
ReplyDeleteI agree! Just knowing you have that security makes less stress in your life. Never mind that it is required. We did not have heath insurance for 30 days once and I was so stressed out! I would not go anywhere ! I can't imagine not having home or auto insurance.
Betsy
I totally agree with you regarding the financial security that having insurance provides. Last summer my family was riddled with various medical bills and we needed a new roof on our house due to some hail damage. I worried about contacting the insurance company regarding the issue, but knew it was imperative. The adjuster agreed to the replacement cost and we were able to get our new roof and manage the medical bills as well.
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