Insurance helps to covers loss from an unexpected or unpredictable event. You need insurance when:
● the law states you must have it—for example, if you drive a car, you must be insured;
● an event happens to you and you would not be able to afford the loss—for example, if the roof fell from your house and injured someone who then claimed thousands of dollars for their injury;
● something happens to you, and the people who are dependent on you need coverage—for example, if you passed away and your children needed financial support.