For some people, insurance is simply another cost that ruins their budget as they do not really see the value or importance of it. However, for those who know, understand, and fully comprehend just how valuable insurance is, they always make sure that they insure everything that is valuable to them. They know that if they give insurance importance, that they will benefit from the protection insurance gives them someday. Although nobody really wants those inevitabilities from happening, if they do occur though, they will be able to make claims from their insurers.
One can never really underestimate the pure value of insurance, especially when it comes to the things that are important to you. If you do not have any insurance and those inevitable do happen, you will be the one shoulder the expenses for repairs or replacement of what you have lost. If you have insurance though, your insurance company will be the ones spending on repairs and/or replacement (depending on your insurance policy, of course). This is why many regard insurance as something that is very important and irreplaceable protection for the things that you value most.
It is important to understand that insurance is a form of risk management and risk reduction for the things you value. If something is very important to you, then insure it. Cars, homes, life, health, business, professional liability, and everything in between are all insurable. As long as the item is important to you and is of valued interest, an insurer will most likely welcome you and write you a policy for it.
If you think about it, the rich always have insurance for the things that they value. They let insurance do the work as a form of risk reduction for them. If they are willing to invest money on the protection that insurance provides, then it means that there is really importance in insurance and should be something that many of us should regard as important as well. Insurance is not an unnecessary cost or expense on our part. It is an investment we make to reduce the risk of loss or damage for the things that we value. Through insurance, we will be able to sleep comfortably knowing the risks over our valued possessions are significantly reduced.