Question

Why does insurance often provide "peace of mind"?

Answer 1

If an item you own is damaged or stolen, insurance will give you money to replace it.

Answer 2

You don't have to worry financially about anything coming up, wasn't expecting, etc. You can't control car accidents, sicknesses, unknown expenses. It creates a peace of mind in knowing you can still provide for yourself and/or a family and has sudden financial or personal health issues pop up.

I hope this helps!
~kaikers