Money, Explained From the Inside

Checkup / Chapters 16–17

What would ruin you?

Insure what would ruin you; absorb what would only hurt. For each exposure, say where you stand.

Loss of income through illness or injuryFor most working adults, income is the largest asset. If you could not work for a year, what would happen?
People who depend on you if you diedA partner, children or other relatives who would struggle without your income.
Liability: harm you cause to others or their propertyClaims can be very large and are not capped by your savings.
Large medical costsIn some systems the state pays; in others a single illness can be ruinous. Know which applies to you.
Damage to or loss of your homeYour home is likely your biggest physical asset and often secures a mortgage.
A business or freelance income streamProfessional errors, equipment loss or client non-payment can hit hard.
A vehicle accident or theftThird-party liability is usually compulsory; the car’s own value may be absorbable.
Overseas medical or travel costsRepatriation and hospital costs abroad can be large; cancelled trips are usually absorbable.
Phones, appliances and gadgetsUsually small enough to absorb; extended warranties often cost more than they pay.

General education, not advice about any product. Rules, state provision and compulsory insurance differ by country.

Enter to open · Esc to close