We Love to Hate It ... Insurance. While Most of US Despise It, We Find It Difficult to Sidestep. Insurance Protects US and Our Belongings Against Adverse Events. You May have Enough Savings to Cope with the Expenses of the Unexpected But if You Don't, Insurance is a Solution for Avoiding Additional Hardships (Money‪)‬

Accidents can happen, but your rent or mortgage must still be paid. And your financial commitments will carry on regardless of burglary, damage to your car, or an illness diagnosis. If your life becomes difficult, then money problems are the last complications you need. State benefits will help, but most fall short--especially in the long term. For example, if you lose your income following an illness, the insurance company will pay out the agreed amount, or an appropriate amount to cover the damage. Of course, you may never need that insurance, but you have to decide whether you're willing--or able--to take that risk.