The "People Power" Money Superbook Book 9. Insurance & Tax Guide (Insurance, Annuities, Disaster Insurance-Insurance Crime-Fraud, Tax Audit, Minimize Taxes, Off the Books)

I'm not saying insurance is bad but I remember when I was in college, one of my buddies was always trying to sell me life insurance, car insurance, computer insurance, etc.

Insurance to me is a capitalist invention of smart business people who gamble that most people they sell insurance to, a supposed security net should something happen, will not have to pay out and if they do, they've got clauses, exclusions and high deductibles to minimize the claims against them.

Study all manner of insurance. Decide what you need and what you can eliminate. Health insurance is generally the most important. Life, home and disability policies rarely ever have to be honored.

It comes down to your tolerance for risk. In the old days, there was no insurance. You dealt with whatever happened when it happened and didn't get into all this over-cautious insurance buying. It's probably obvious that I don't own any insurance beyond what I have to buy for my car.

I don't live by what could be, I live by what actually happens when it does. I know my house in a suburban area will probably never burn down so I don't waste money on home-owner's insurance.

To me, insurance is a lot of cultural brainwash for brainwashed clones but I can't bash it totally because there are cases where insurance is a life-saver for some people like if their house blows up, they die or get injured but the odds are low that this will happen to you so if you want to spend perfectly good money on something as improbable as a serious tragedy happening to you, by all means do it if it gives you peace of mind.

The golden rules to buying insurance are don't buy more than you need. Get higher deductibles to get lower premiums. If you own possessions of only moderate value, it's not a big deal if you lose.