Why Insurance?

According to an editorial in the New York Times Opinion Pages yesterday,  “Nearly one million more Americans went without health insurance in 2010 than in 2009.” Forms of insurance have been around for centuries for a reason: catastrophes can happen to anyone.  Besides protection against various unforeseen problems and events, what does insurance do for you?

Health Insurance helps you pay for more than just unforeseen emergencies.  Your regular physical may be covered as well as co-pay for prescription medications. Some Health Insurance policies help pay for forms of birth control and preventative care as well.  In up coming years more preventative care may be covered by Health Insurance.

Your Homeowners Insurance policy may protect against damage that could make it difficult to sell your home, such as vandalism. Renters Insurance may protect valuables that you take with you on vacation.

In many cases, insurance is a requirement. You are probably familiar with mandatory Automobile Insurance. Depending on your location and career, Renters Insurance and Business Insurance may be requirements for you as well.

“Bleak News on Health Insurance.” The New York Times: Opinion Pages. The New York Times, 14 Sept. 2011. Web. 14 Sept. 2011. <http://www.nytimes.com/2011/09/15/opinion/bleak-news-on-health-insurance.html>.

Easey, Cameron. “Why Is Insurance Important?.” EHow Money. EHow, n.d. Web. 19 Sept. 2011. <http://www.ehow.com/about_6171187_insurance-important_.html>.

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