Insurance

Insurance is a service provided to customers who pay a regular monthly fee to an insurance company or firm for significantly larger financial aid (that is, financial insurance) in the case of an emergency or other incident that would cost the customer a lot to recover from. The reason for purchasing insurance is often in case something happens that the customer wouldn't be able to afford by him or herself at all. Health insurance and car insurance are very common types of insurance, for the fear of losing one's good health and as it is required that you have car insurance to own a car. Insurance rates can fluctuate based on what that insurance protects - for example, if you are in car collisions often, or have a large number of health emergencies, your car or health insurance rates (the amount you pay monthly) could be significantly larger. This is also true if you have a bad credit score. Most insurance plans have a set deductible - this is the amount that the customer must pay for damages before the insurance company will begin adding in its aid. In general, the higher the deductible, the lower the premium (the amount you pay monthly). A co-pay is a set amount of a bill (be it medical or automobile-related) that the customer must pay together with the insurance company to cover costs. And THAT is why you want insurance with low premiums, and low deductibles if possible. ~ T-Bone Pickins