Insurance Can Be the Difference between Debt and Survival for Atlanta Policy Holders
When you're looking for a way to save money, canceling your insurance policy can sound pretty tempting - especially when rates keep rising.
Rates for auto, health, life and homeowners insurance policies have been on the upswing as insurance companies struggle with rising expenses, an unstable economy and the costs of the many large-scale disasters in recent decades - including 9/11 and Hurricane Katrina. Those costs get passed on to us, the consumer. And when we're already faced with immediate bills - like the car payment, mortgage or multiple credit card bills - paying for insurance might seem like a hassle, even a waste.
But it's just the opposite, say Atlanta bankruptcy attorneys. Your insurance bill could be the most financially rewarding payment you make.
There's a reason the U.S. insurance industry has suffered 9 out of the 10 biggest insurance losses in the last three decades, according to Bankrtate.com. It's because, unlike most countries, many Americans actually have insurance. That means companies actually have to pay those insurance claims when disaster strikes. So while as consumers we have to pick up a little of that cost on our insurance bill, it's worth the money knowing that if we lose everything one day, we'll have a chance at getting it back thanks to our insurance.
Think about it. If your car is totaled or stolen, you're either left with no way to get from point A to point B - or you can have a brand new car that your insurance pays for. If your house burns down or floods, you could be homeless - or you could be given the chance to build a new house. If you stay in the hospital, you could owe medical bills in the thousands - or in the hundreds (sometimes nothing at all). Get the picture?
Insurance does what it says - it insures. Insures that if the worst does happen, you'll get your life back - without being saddled with debt from some disaster until the day you die. Of course, if you're already drowning in debt, there's another way to get your financial life back - bankruptcy. It's free to find out if bankruptcy can help you find a fresh financial start when you try a complimentary debt analysis courtesy of an Atlanta bankruptcy attorney.