subject: Insurance Is Not Something To Be Taken Lightly [print this page] So many people think of their insurance premiums as just another expense and in the current economy this thought process is not surprising. It is important to realize that your insurance premiums are just as important as your expenses for any other necessity especially during trying economic times. Insurance is one of those things that you pay for without seeing immediate results but its importance should not be overlooked.
Financial disasters can happen in uncertain times, however, those with renters, homeowners, health and life insurance will have a important hedge against such disaster. While insurance cost certainly will come into question; should you be faced with the financial burden of just one accident, you will see the safety net such insurance offers and not have to witness all your lifelong accumulated assets be taken away for payment and you and your family become a burden to someone else.
In case this might have escaped your knowledge, accident and injury bills that are filed against you can legally place a lien against every single asset you own, putting all you have in jeopardy. Many people are finding that the high cost of medical treatment can often place serious risks to all their assets including their home should a catastrophic illness or major accident happen unexpectedly. Even small issues and incidents can cost literally thousands. This has caused some to declare bankruptcy.
As anyone will readily attest to high price of insurance premiums, the alternative of no insurance is far more scary financially, not to mention the risk and expense it will cost you anyway in the long run. Having all your bases covered just in case you are faced with tragedies by making sure your insurance policies are current and paid up. If you feel you might need additional coverage to protect your primary residence, you can inquire about a umbrella policy to combat the threat of a lawsuit.
Wouldn't it be grand if life handed out certain guarantees. Sadly, it doesn't. We are only guaranteed to have coverage, should emergencies pop up, if we have paid our insurance premiums regularly and on time. This is planned security necessary to with stand financial storms with the added bonus of peace of mind. Seek out and cut, trim or postpone other areas less important than the best possible insurance coverage you can get to ensure that tough times don't sink your ship.
by: Ethan Kalvin
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