I admit. All the while, I do think that insurance is an unnecessary expenditure.
I feel its like a bet. If you put in a lot of on insurance, you are feeling insecure about yourself & your possessions. You feel that something might happen, that's why you place a 'bet' that you will lose something. If you win, you'll receive the compensation on your loss. If you lose, you lose the money spent on insurance.
On the other hand, I do understand that accidents occur, and there will be days that your lady luck goes on holiday and you can only wish that you have bought insurance. The problem is that, most of us people thinks or believes that the cost of insurance outweighs the benefits. I am one of those people. Its like... I don't value my health or any of my possessions enough that I will buy insurance now. (But I do have an insurance, i think... my dad pay one.. heheh)
Of course, like everyone else, as you wealth increases, the benefit of insurance increases as well. Maybe when I am a few years into my working years, own several assets, then perhaps at that time, insurance would be appropriate. I will definitely buy insurance for my Prius (if I got one), seeing how poor a driver I am. lol. Definitely. Yeah, never thought about it but now I DO THINK THAT I NEED and MUST HAVE Car insurance when I own a car. And when I do, I should compare car insurance across all the providers. But as for now, a young adult who has just graduated, money can be use in a better way. ;)
However, I do think that I will be purchasing my first insurance soon, or at least I hope so. Travel insurance. ^_^
I still have years before I need to think about Home insurance.
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