What is the benefits of insurance?

Question

Accepted Answer

Insurance provides financial protection and peace of mind in case of unexpected events or losses.

Financial protection: Insurance helps individuals and businesses mitigate financial risks by providing coverage for potential losses.
Peace of mind: Knowing that insurance is in place can provide a sense of security and peace of mind, allowing individuals and businesses to focus on their goals and activities.
Risk management: Insurance allows individuals and businesses to transfer the risk of potential losses to an insurance company, reducing the impact of unexpected events.
Business continuity: Insurance can help businesses recover from losses and continue their operations, minimizing disruptions and ensuring continuity.
Legal requirements: Some types of insurance, such as auto insurance or workers' compensation, are mandatory by law in many jurisdictions.
Examples: Health insurance covers medical expenses, property insurance protects against damage or theft of property, and liability insurance provides coverage for legal claims against individuals or businesses.

Accepted Answer

Benefits of insurance are

#Claim damages

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