What is one cost of avoiding insurance? There is lots of reason to avoid the insurance policy. Insurance is one of the most import financial product that everyone should have. One cost of avoiding insurance policy can be the most recreated decision for you.
You won’t understand what is one cost of avoiding insurance, Until you face the consequences of one cost of avoiding insurance. Usually people collect the money by doing hard work in their field to fulfil their dream, it could be anything buying a dream car buying a new home or anything you would like to. People buy lots of thing and don’t even bother to have insurance to insure their precious assets that if they lost or damages their property without having a insurance that what is one cost of avoiding insurance.
You and your family Life is one of the most precious thing in this world, surly you don’t want your family’s life’s in risk. Everyone know that medical condition could come with knocking the door.
May people die due to lack of money and they won’t get well treated due to lack of money because they did not insure the medical bills with health insurance and losing life is what is one cost of avoiding insurance.
What is One Cost of Avoiding Insurance?
In 2019-2022 whole worlds face the pandemic time and many people die in the pandemic. Even now lots of people die due to lack of money for their medical condition. Life in unpredictable what is going to be in life you never know that, if you had a accident in road and don’t have medical insurance that could cover your medical bills, believe me you are going to be in huge financial breakdown due to your medical treatment bills and that’s what is one cost of avoiding insurance.
So always have medical insurance that can pay your medical bills, it does not matter what insurance your take at least have minimum coverage medical insurance of yourself and your family’s, at the time of medical emergency you can get claim from medical insurance company and that can help your pay your high medical bills.
If you don’t have medical insurance that could be your life of your love once life what is one cost of avoiding insurance.
What is One Cost of Avoiding Insurance? – Home Insurance
If you’re thinking of what is one cost of avoiding insurance and don’t buy a home insurance for your home. In United States some places are safe from all the natural disasters but there are many cities in United States that comes under the natural disaster place. You have your home at those places you must have Home insurance for sure.
If you are in the place where the natural disasters are normal like hurricanes, land sliding, earthquakes etc, in that case it a huge changes that your home going to be get damages by the natural disasters.
In such condition if you don’t have home insurance to insurance your home, cost of damage and cost of new home can be that what is one cost of avoiding insurance.
Always protect your home with home insurance that reduce your burden and cover all your loses done by the natural disasters. Having good protective home is the one I recommend you to have under that you can cover all your home along with home appliances.
What is One Cost of Avoiding Insurance? – Auto Insurance
Some vehicle are expensive and some are not but for every vehicle owner their car is the most important and expensive thing. Let support you brought the car with all of your saving and its been 2-3 month and your car got damages in car crash or hit by the other car or truck.
And unfortunately, you don’t even bother to buy the car insurance for your brand new car, what will happen next. You need to bear the cost of repairing of your damage car from your own pocket.
And your already spend your whole saving to buy the car and now you don’t have money to repair your car what would be the option for you. Sell out the car at the same condition if possible, prepare yourself to get loan for it. Both option cost you huge loss of money from your pocket.
If you already insured your car with well covered auto car insurance then you don’t need to worry about the repairing of your damage car because all the damage bill is paid by the insurance company we car insurance claim.
Hope your understand what could happened to you if you don’t buy car insurance and that what is one cost of avoiding insurance for your car or bike.
Reasons Why People Avoid Taking Insurance
What is one cost of avoiding insurance, due to avoiding insurance people may face lots of losses and still people don’t buy a insurance why this is happen let discuss some common reason why people avoid buying insurance.
Insurance Is Expensive: What is One Cost of Avoiding Insurance
Usually Insurance are very expensive, the average cost of health insurance policy is around $399 for a month which cost around $4788 in a year and if there is 4 member in family than it cost around $19,152 in year for health insurance for a single small family. Middle class family generally don’t offered such expensive cost of insurance so they avoid to buy health insurance and that’s what is one cost of avoiding insurance.
Feels They Don’t Need Insurance: What is One Cost of Avoiding Insurance
One of the major reason of not buying the insurance is that they assuming that everything is all right not is going to be happen to their health, their life, and their property, car etc.
Most of the people don’t realised that anything could be happen to them or to their property but people feels like they know their own future and everything is going to be smoothly.
Life and future is unpredictable no one knows what is going to be in future. It is possible that they get into car accident, serious medical condition, their car or bike can be stolen, property could get damaged by the natural disasters.
Having a great insurance policy with you can be a great advantage for you.
Waste of Money: What is One Cost of Avoiding Insurance?
Insurance is waste of money, sometime people notice that investing money on insurance is total waste of money. Sometime it’s happen that you buy a short term insurance for your car just for one year and you notice that nothing is happened to your car and you wasted money in car insurance.
Most of the people think they never going to use their insurance money and noting goes wrong with them. So why they should invest in insurance and waste their money on buying insurance policy.
Insurance is not waste of money, they protect you from unexpected losses happen to you, your family and your property which you wanted to be protected. It will help you if somehow something went wrong and your need money to pay for it.
If you are thinking that nothing is going to be happed with you and family. You should ask yourself that if something happen to you or met with medical emergency, would you able to afford the cost of medical treatment. Do you have that much of money in your bank for emergency condition?
Insurance will help you to pay your medical bills in the case of any medical emergency, car insurance claim will help you in case your car got damages in accident, Home insurance will help you in care your home got damages by natural disaster or some other reasons.
Lack of Awareness: What is One Cost of Avoiding Insurance?
Most people are not aware of insurance policies and what they cover under the insurance policy that why they avoid taking an insurance for their future for protection. This is true that still there is lack of awareness in the insurance industry. People really don’t know why they should take insurance and how they protect and help them in emergency condition.
Lack of awareness about the right insurance policy may what is once cost of avoiding insurance. Due to lack of awareness about the right insurance policy people don’t consider to buy the insurance policy.