November 2nd, 2011 
Bowen Family 
There are a number of very important concepts that you must understand when purchasing insurance. If these aspects of insurance are ignored, YOU will not simply be wasting your money; you will be exposing yourself to even greater risk.
First and foremost, the greatest danger by far is not taking out any insurance at all.
The rule of thumb is that if you can easily afford to replace an item of property, then insurance is unnecessary. It is however where the cost of replacing a property item such as a motor vehicle is massive, that insurance becomes critical for most consumers.
Insurance is primarily a risk sharing contractual relationship between the insurer and the insured. The insurance relationship assumes that the contractual partners manage the risk by taking all reasonable precautions to protect the insured property against loss.
For example, if you don’t keep your motor vehicle in good repair, … Read the rest
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