December 11, 2006
Why Do I Need Insurance?
Remember the fable of the wolf and three pigs. Two pigs that built houses of straw and twigs lost their homes when the wolf blew at them. And the pig that had a strong brick house managed to hold his own against the wolf. Now if the other two pigs had the good sense to insure their homes, they may not have felt so bad at losing them.
What am I doing telling you about fables? Well, simply that all of us could lose our homes and it is our duty to protect our home and its contents. As a financial decision, it does put a bit of strain on your resources. But it is also one of the few things that will help you sleep peacefully at night.
For most of us, our homes are usually our biggest single investment and asset. A homeowner’s insurance only allows you to ensure that in case you were to lose your home, you don’t have to fret and you can start over. While your mortgage does ensure that you have a certain amount of homeowners insurance, it may not be enough to insure your home and all your possessions.
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