Insurance helps us to face the risks that we may be exposed to and contributes to mitigating its negative effects, as the insurance company assures that you bear the financial burdens resulting from the occurrence of these risks against certain premiums. Insurance products have evolved and extended to several areas, so that individuals can insure their health, vehicles and other property against many risks that they may be exposed to, such as traffic accidents, disease, theft or otherwise.
What is the importance of insurance?
Protect your financial future
Insurance is a successful way to help you protect your financial future in the event that you are exposed – God forbid – to any serious accident or illness that hinders you from working and earning money. There are insurance programs that give you protection and cover the risks that you may be exposed to as a result of total disability or incurable diseases such as insurance against personal accidents .
Managing risk in an effective manner
A person’s life is not without exposure to crises and accidents, so it is wise to hedge against this by taking the necessary measures. One of the better ways to be prepared for these risks is to participate in insurance programs that suit your needs and capabilities.
Financially protect your family
Insurance plays a fundamental role in relieving the financial pressures that your family may bear in the event of an emergency that occurs to you – God forbid. There is a type of insurance product called protection and savings insurance that provides financial protection for your family by providing specific financial income according to the insurance policy that helps you and helps your family to pay emergency financial expenses arising from the occurrence of any harm to you such as death, total disability or any other risks covered in Insurance document.
Insurance means an investment
Participation in insurance programs is itself one of the types of future investment, as many types of property insurance provide coverage against damage, damage or theft, and the insurance company compensates you or replaces your property with what is new or provides maintenance service if it is exposed to any of the covered risks according to For the insurance policy, which saves the value of your property.
Maintain your savings
Do not consider insurance premiums as unnecessary monthly expenses that increase the financial burden on you, because choosing the appropriate insurance for your future needs helps you avoid incurring emergency.
Ensure the stability of your business
Insurance may be a safety belt if your business is exposed to risk. There are many insurance programs that are designed to suit the needs of commercial institutions, providing insurance coverage to bear the dangers of business breakdowns or the protection of company property such as the contents of stores or commercial real estate or the company’s fleet of vehicles against damage or theft or others.
Some people misunderstand the true meaning of insurance for his car and believe that the money he spends on paying the insurance premiums is a loss for him and an additional financial burden on him. However, by contrast, participating in this type of insurance helps you avoid more heavy financial burdens in the event of a traffic accident. According to the General Authority for Statistics, the number of traffic accidents that occurred in the Kingdom in 1437 AH reached 533,380 accidents, resulting in 38,120 injuries and 9,031 deaths. Therefore, vehicle insurance has become one of the necessary things to face the financial losses resulting from accidents, which include treatment expenses and expenses for the injured, compensation for deaths and repair of faults and damage caused by your car.