While it might be tempting to save money by going without insurance, it is best that everyone carry insurance in four different categories. Health insurance, car insurance, home or renters’ insurance, and life insurance can bring you peace of mind as well as help you out in the event of an emergency. Here are five reasons why Upside Insurance (http://www.upsideinsurancegreenville.com/) claims it is unwise to live uninsured.

1. Your Health Can Turn in an Instant

Going without health insurance is risky and can even lead to a penalty from the IRS. Some young and healthy people choose to buy low-priced insurance that covers only catastrophic illness, but it’s important to remember that your health can change quickly and permanently due to illness or an accident.

2. Car Accidents Are Costly

It is required by law that all drivers carry some form of car insurance, except in the state of New Hampshire. You may consider skipping car insurance because you feel like you are a great driver. Consider that the cars around you may pose a threat to you.

The minimum required insurance for most states includes bodily injury liability and property damage liability. Each state has its minimum requirements for coverage.

3. Protection Against the Loss of Your Home

While homeowners’ insurance is not mandated in most states, it is a smart idea to carry a policy. An insurance policy protects you from covered risks like fire, tree damage, and theft. Additional policies can be purchased to cover flood damage. It is also a good idea to carry personal liability insurance in case someone is injured on your property. Not having homeowners’ insurance can be an extremely costly mistake, especially if you lose your home and do not have the cash on hand to rebuild it.

Renters’ insurance protects the contents of your home from fire, damage, and theft and is a great idea for all renters to carry. Renters’ insurance is very affordable and can set your mind at ease.

4. Keep Your Family Safe When You Are Gone

Families with children should always carry life insurance. Term life insurance pays your family in case of your death and can provide for living expenses, home expenses, and perhaps the cost of higher education for your dependent children. Policies are surprisingly affordable and can be customized to meet your needs.

Even if you do not have children, life insurance can provide a means of paying off your home or other debts in case of your death. It would be a terrible blow to a family to lose a loved one and then find themselves responsible for that loved one’s bills. Life insurance provides peace of mind.

5. Peace of Mind

Going without insurance seems like cost savings, but in the end, one illness, accident, or fire can cause financial ruin. While you may never have to use the full value of your insurance policies, having them available can put your mind at ease.