What is insurance?

Insurance is a contract in which one party, the insurer, agrees to pay another party, the insured, a predetermined amount of money if something bad happens. This could be anything from getting hit by a car to becoming a victim of a crime. 

The purpose of Insurance companies is to protect people from financial ruin in the case of an unforeseen event. 

There are many different types of insurance, but the most common are property and casualty (P&C) insurance and life insurance. P&C insurance covers things like accidents and damage to property, whole life insurance protects you and your family against the possibility that you will never live long enough to collect on your policy. 

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There are several different reasons to buy insurance. Some people buy it because they think it’s a good idea, others because their employer requires them to do so. The main reason to buy insurance is because it can protect you financially if something bad happens.

What can you get with insurance?

Insurance can offer protection from a variety of risks and costs, including medical expenses, property damage, accidental death, and more. In addition to its basic benefits, many policies also include extras like roadside assistance and pet coverage. Whether you're planning for a natural disaster or just want to protect yourself financially in case of an unexpected expense, insurance is an important part of your life.

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