By financen | November 24, 2008 - 4:30 pm - Posted in Insurance

Almost a quarter of the individuals confess that they don’t have any insurance policies. In fact, most of these people don’t have any insurance on their home and they go to some holidays without any kind of insurance. They have not done any kind of health insurance because they feel the need to tighten their purse strings.

There are large numbers of people who do not have any kinds of insurance on their homes, life, medical or income insurance at all. Recent statistics showed that around 42% of the people wanted to reduce their household expenses by discontinuing their insurance premiums or even their pension contributions. The consequences can be quite serious because if any kind on untoward incidence happens which might warrant a claim, then you would end up paying out far more than what you would have paid for the policy.

Most of the home insurance policies will cost less than $10 per month. If you do not pay the home insurance premiums and the house got broke, then you will have to spend a lot of money for home improvement and replacing the items then you would do on the policy itself.

Likewise, if you go out on a vacation and do not do travel insurance, and then you might have the risk of facing huge medical bills if you get sick and need to get good treatment in abroad location. If somehow, your luggage gets stolen without any fault of yours, the insurance policy will cover the cost of replacing your clothes and other essentials.

Out of all the insurance that are not compulsory, car insurance is the only kind of insurance that is legally required if you drive a vehicle. It’s always advised that it is better to be safe than sorry. If you have the right kind of policy for your home, car, life, income and health, it will give you not only peace of mind if something happens, you can recoup some or all of the losses.

This entry was posted on Monday, November 24th, 2008 at 4:30 pm and is filed under Insurance. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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