Insurance can be a "financial nightmare" to some or a grin and bear it situation for others. The best thing about insurance is that it covers the unexpected. Life is a very unexpected event. You do not have complete control of your surroundings. Sometimes something happens that can be very sinister or a complete accident. These events occur regardless of who you are or where you are from. You could be at the wrong place at the wrong time. You can think "It won't happen to me" but it might - you will never know.

That is the very reason why people should take out insurance. Insurance may be considered as a rip off, but it won't be when you really need the cash when that unexpected event happens. A prime example is a natural disaster such as a hurricane or an earthquake. If you don't have cover in these situations, you are screwed. The worst thing about that situations is that you cant press the rewind button and purchase insurance. You either pay up or miss out.

If you have no insurance, the unexpected situation could financially ruin you. It can also cause unwanted stress and trauma. Also, years worth of suffering to regain all you had before the event happened. The magic thing about insurance is that you are covered. Whatever happens will happen and you don't have to think for one second about how you need to pay for it. You have already payed for it in the premiums. Of course you need to pay excess, but this excess will be exponentially less than what you encounter.