If you’re like most people, you probably complain about the costs of insurance. However, there are all sorts of circumstances when you are going to be glad that you’re covered. There is a reason that insurance pools exist, and it’s not so much that you will necessarily use that money, but you are protected in case something terrible does happen.
A few times specifically that having insurance is crucial to you maintaining your standard of living include if you’re involved in a car accident, situations where your health changes rapidly, in the event of death in the family, and if you ever have to get any emergency medical work done on your teeth.
One of the primary examples that you can look at from the perspective of insurance being a good thing is if you get in a car accident. There are many different legal factors at play immediately, and if everyone has their coverage in order, the situation will resolve itself in a much more feasible manner. Without insurance, car accidents can cause bankruptcy and legal issues concerning the value of property damage and potentially medical expenses if anyone was injured, regardless of who was at fault.
Getting health insurance these days is something of a frustrating topic. Because there are lots of state and national laws that are coming and going, and the market itself is in flux, many people are confused about what kinds of health insurance to get, and what it covers. At the most basic point, if you have even low-level health insurance, if something catastrophic happens like a cancer diagnosis, then you’ll at least be covered up to a certain point, which may save you from going bankrupt. Putting in hundreds or even thousands of dollars over the years may make you question its value, but the first time you see someone whose expenses are paid for to get the treatment they need, you’ll understand why it’s worth it.
If you’re the primary breadwinner in a family, and your household finances are locked up in what you do professionally, then you need to make sure your family is protected in the event of your death. Even though this sounds morbid, it’s very practical. Once you buy life insurance, you know that your family will be taking care of at least to a specific level.
Especially if you play sports or are otherwise active in a way that has any possibility of damaging your teeth, having dental insurance is a good idea. Dental surgery can be costly, but it isn’t exactly cosmetic in many cases, which means that you have to have it done. Even in a freak accident, you could lose it to or suffer unsightly damage, and without insurance, you may not be able to pay to have it fixed.