What is the importance of insurance in our lives?

What is the importance of insurance in our lives? Have you ever thought about the disappearance of the concept of compensation from our lives? As if there is no compensation in money or compensation for the damages caused to you! Life will be hard! As man, by his nature and instinct, seeks to facilitate himself, his society and his surroundings, and therefore he found car insurance to fulfill this purpose and compensate for the damages resulting from future risks. The insured is restored to the same condition it was in before the occurrence of the risk, and insurance is considered an important factor for three parties, namely: insurance companies - the insured - others. The importance of insurance for insurance companies The main activity of the insurance companies is that it guarantees to the customer or the insured that the company covers any damages that occur to the insured or third parties according to an insurance policy issued by the insurance companies. This document is an agreement between the insurance companies and the insured that the insurance companies cover the insured for any damage Within the scope of the document concluded between them, and it is often the capital of insurance companies from insurance contributions and payments that are paid by the insured, and therefore all participants pay the amounts of insurance contributions and form capital for insurance companies, as a result of which the insurance companies manage these funds and compensate the insured in In the event of any accident or danger to them, the importance of insurance for insurance companies lies in the following: The insurance activity is a pioneering activity in the field of investment activities. - The large number of insured persons and the material return resulting from the frequent use of insurance products. - Compulsory insurance by a decision issued by the competent authorities, which is of commercial benefit to the insurance companies. The importance of insurance for the insured When there are insurance companies that offer insurance services and products, then it is natural that there is a response and desire from individuals to insure and benefit from these insurance products, especially with the decisions issued obliging the insured to have valid insurance, otherwise the lack of insurance will result in a violation on the insured, and insurance also plays a role It is important in protecting the insured from any dangers. When you buy a new car and you are confident in your driving, you may not guarantee the driving of others or the risks resulting from any external influence. Therefore, the importance of insurance for the insured lies in the following: - The insurance is considered a guarantee to return the condition of your vehicle or the vehicle of others to the way it was before the occurrence of this danger or accident. - Insurance protects you from any mistakes or risks that you make towards others. Insurance gives a kind of reassurance to the insured. The importance of insurance for others: When you drive your vehicle on the road and you are committed to all security and safety reasons, this guarantees your safety, but it will not guarantee you mistakes or damages to others towards your vehicle. Third parties, and the importance of third party insurance lies in the following: - Insurance protects you from any errors or risks incurred by those who collided with your vehicle. - The insurance guarantees that your vehicle will be restored to the condition it was in before the accident. Provides a kind of safety and reassurance. Vehicle insurance is of great importance in our lives, as it is beneficial to all parties of society in order for the members of society to enjoy and abound in safe driving and reassurance that their money and vehicles will not be wasted as a result of mistakes they may have committed or mistakes of others, with a profitable benefit for insurance companies that enable all parties to benefit from mutual benefit from this investment sector the important.