You know, sometimes the most basic concepts are the most important concepts. I wanted to talk to you about why you should have insurance. A lot of people ask that question, “What should I insure?”, or “Why should I have insurance?”

Well, let’s start with the most basic premise of what insurance is. Insurance is a tool to transfer risk. And typically, the risk you want to transfer is a risk you couldn’t afford to absorb yourself. Let’s say if you injure somebody in an auto accident, or if your home burns down to the ground.