#Positively Stressed - Week 22
This week, let’s talk about a surprisingly powerful mental health tool: insurance policies. A few types that you should have (or should consider) are: Auto, Homeowner/Renter, Life, Identity Theft/Cyber, and Professional insurance policies – or even others depending on your situation.
Having insurance policies in place isn’t just about risk management – which is their primary purpose – it’s also about stress reduction. Because paying a little now protects your future time, money, and peace of mind.
This is because good insurance policies have two major functions: 1) they cover financial losses up to the policy limit, and 2) they pay for a lawyer if you get sued.
Imagine you’re in a car accident. You’re banged up, juggling everyday life, and now someone is claiming you owe them six figures for their injuries. Do you have $50k+ to cover medical bills, emotional damages, and future treatments PLUS the expertise to challenge what is fair?
That’s where you auto insurance steps in – because you have auto insurance if you are driving a vehicle RIGHT!?!
If the claim is valid, the policy pays up to the policy limits. If the claim is not, the policy funds a legal defense – giving you a trained advocate in a complex system of the law.
To those who don’t typically use the court system, it can feel like playing a new board game without a rulebook. And let’s be real – do you have time to learn the game called “Litigation” and live your life?
This is why insurance is not just a risk management and financial tool – it is a stress buffer.
Make sure that you have it and it’s up to date (coverage, limits, and your address too) – before you need it! Because it won’t help if you get it afterwards.
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