I Do Not Like Insurance

No one likes to pay for auto, life or homeowners insurance. That doesn't mean, though, that insurance isn't important. If you count yourself as an insurance hater, it's time to take a closer look at the positives that insurance can bring to your life.

Consider this scenario: You're driving to work on a typical morning. Your cell phone rings. You glance at the number on the screen. Suddenly, your car jerks to a stop with a sickening crash. You're driven into the rear end of the commuter bus in front of you.

Suddenly you face a serious repair bill. Or do you?

Not if you have auto insurance.

Sure, you might not like paying that premium every six months to insure that your auto insurance remains current. But think of the costs you'd endure if you get into a serious accident and you don't have insurance. In today's uncertain economic times, a major accident might be costly enough to wipe out your entire bank account. But if you're adequately protected by auto insurance, it's your insurance company that will foot the bill for any costly repairs.

Yes, your insurance payments will rise after you've been involved in an accident. But the cost of this rate hike will be small compared to the amount of dollars you would have had to have shelled out if you had to cover the costs of your accident.

The same theory holds for other forms of insurance. Consider homeowners insurance. Again, you might cringe whenever you send a check to your homeowners insurance provider. But what if a bolt of lightning hits that tree in your front yard tonight and sends it toppling onto your home, destroying your roof in the process?

Think of how expensive it would be to repair that roof, remove the fallen tree from your front yard and cover any other damages that the falling tree caused. Again, if you have adequate insurance protection, it'll be your homeowners insurance provider handling the majority of these costs, not you.

You may say you do not like insurance. But consider this: Wouldn't you not like not having insurance a lot more?