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postnew [5]
3 years ago
15

Why do we purchase insurance

History
1 answer:
CaHeK987 [17]3 years ago
5 0
1: It's the law. If you own a car you MUST have insurance in order to drive it. If you have a mortgage on your home you are required to have insurance. And it's now required to have insurance on yourself (It came with Obama care).
 
2: If you get into an accident or your house gets wrecked/you get hurt your insurance (sometimes, depends on what happened) pays for the damage done. 

Hope this helps!
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