Why you need insurance – Part 2
9th July 2006
If you haven’t read part 1 of this series, that’s where you’ll want to start.
Now, on to part 2. There are some people who feel that they have enough money to take care of anything themselves. Perhaps the thought of wrecking an S-class Mercedes Benz doesn’t faze them. Why in the world should a person like this have car insurance?
One word – lawsuits. Without car insurance, a lawsuit could take every penny you have to your name. Wealthy people are often seen as targets by the less fortunate, so they must protect themselves. Undoubtedly the cost will be higher, since they need more coverage. It is, however, still necessary. Imagine a minor fender-bender that turns into a multi-million dollar lawsuit, to cover medical damages, maybe a little pain and suffering. All this can be prevented by having the proper insurance coverage.