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The article actually says that you should insure only if it creates financial distress. So, in the case you describe they should insure for the floor flooding e
by cfn 5y ago
The article actually says that you should insure only if it creates financial distress. So, in the case you describe they should insure for the floor flooding eventuality but not for the dog ruining the carpet (as a cheaper example).
- rocqua 5y agoThis is a great example of how poverty is a trap. You cannot afford insurance premiums, so you are stuck without insurance for situations you cannot handle. As you earn more, and get room to save, you get the option to forego insurance.