We may well say that an insurance could have saved us from all the trouble. But that would only be in hindsight. Reasonably, you shouldn’t have to take out an insurance policy to cover absolutely every event that’s even vaguely possible, and it wouldn’t make financial sense to do so. Covering yourself against key, high-cost causes for an insurance claim only makes itself worthwhile if they end up being used. At the same time, avoid getting into lower payout plans as well. These would not help you too much. After all, this means that the compensation for a particular claim really doesn’t have much of an impact on how well you can deal with the cost.
The insurance markets are full of huge varieties of options. But you can’t avail of all of them. But achieving that balance between a low level of cover against a broad range of risks and the sort of compensation that can really make a difference should it be needed is a hard task indeed. Bearing in mind that, reasonably, you neither plan nor hope for any of the risks that you cover against to actually happen, often people realize far too late that it would have been worthwhile to get insured against a certain liability. I would say that we should all stop complaining about that insurance premium that we have to pay. The pittance that we pay could provide us protection from financially damaging situations. Even if you have to pay more in total, it is a blessing. And for this blessing alone we should be thankful. When the tough times come around in your life, that insurance policy can be a friend indeed.