Importance of insurance

While talking to a few friends of mine, I realized that some friends in my outer circle do not believe in buying insurance. They claim that buying insurance is a waste of money and they had enough savings to support the family should anything happened to them.

There are many kinds of insurances in the market such as car insurance, life policies, home fire insurance etc. To me, buying insurance also means a disciplined way of setting aside money for the rainy days. I would like to make sure my loved ones are covered should anything happens to me.

Few years back, my father got into a small car accident whereby an inconsiderate driver drove too near his car and ended up scratching the side of my dad’s car. Insurance companies were roped in to settle the disputes and the compensation for the damages done. This is where insurance comes into good use.

What about you, do you buy insurance?

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