Well, this whole business of me asking you guys questions about how you prep and what you like to use to prepare has been working quite well – at least I think so.
Last time (the first time I did something like this) I asked you for your prepper gear recommendations, and honestly, I got some absolutely excellent recommendations, both in terms of specifics and just general ideas for what to grab. A few things listed just flat out slipped my mind to buy that are so cheap and easy to grab, I don’t know how I missed them. Military grade ponchos, for example? How the heck do I keep forgetting to buy a couple of those when I live in the UK? Thanks Ben!
If you’d like to see a summary of the recommendations and don’t want to go through the comments one by one, I’ve compiled them into an article for you: Reader Recommendations: Preppers List Their Favourite Gear.
Preparedness & Insurance
Today’s question is a little different. I’ve always felt that insurance and prepping go hand in hand, and that our preps are to us like insurance policies to others: essentially guarantees that even if some of the worst things in life happen, we won’t be left with little to absolutely nothing. Obviously, insurance policies and preps are different in many regards, but when it comes for thinking and planning for the worst, I think they’re very similar overall.
I don’t feel like the types of insurance we invest in is a topic we talk much about as preppers, though. Maybe because it’s just something we do automatically and thus don’t bother to discuss much because it’s so normal, but either way, I’d love to know where you guys stand on insurance. Specifically, the kinds you have and are willing to invest in, versus the ones you think are just plain not worth it.
Obviously there are types of insurance I’m sure near 100% of us have – home insurance & car insurance for example. But what about the others? I’ve, for example, only lived in Canada and the UK – both places where health care insurance is not necessary, and yet over the past 6 years being married to Thomas, he’s been telling me over and over that we really should get health insurance anyway, while we’re young – so we don’t have to pay high premiums for it later in life in case we do end up needing health insurance when we’re old. I agree with him – this makes perfect sense. You never know what kinds of health problems you may end up with, and just because your country’s health care covers a lot, doesn’t mean you’ll necessarily be getting the doctors you want/need to help with your case – especially if you end up with something that requires a specialist. So investing in healthcare even when you live in a country where you’ve got healthcare technically taken care of still makes sense to me.
We’ve considered life insurance, but haven’t invested in it yet. Not sure how I feel about it in general. Any opinions on this one in particular?
Thomas and I have never bought contents insurance because we don’t really keep anything valuable in the house, ever. Not that we invest in valuable items in general, but regardless – the most expensive things we have at home are pretty much our computers, and if something happened to them, we’d just buy new ones anyway. We make sure we have enough of a financial emergency blanket to make sure we could cover the cost of replacing anything we needed that was broken or damaged – so this is I guess a replacement for a contents insurance policy to us.
Pet insurance? Don’t have any, but our pet basically never gets sick. I’ve known people whose pets do seem to get sick a lot more often than ours and I 100% would have pet insurance if I regularly needed to visit the vet for things besides booster shots. But we’ve got an indoor cat with impeccable health, so I don’t see this as worth buying either. Correct me if you think I’m wrong!
Not sure what else to say. There are so many kinds of insurance besides your basic home & auto insurance (and even then there are so many different types of home & auto insurance), it can be hard to decide which are and aren’t worth getting for you.
Quite frankly, I was considering doing a post on the types of insurance Thomas and I have & what we eventually want to get – but seeing as how you guys often change our minds with your comments, it seemed pointless to do that kind of article before first asking you guys what you did.
Okay so now you –
What Kinds of Insurance Do You Feel Are Worth Investing In?
As the title of this section says – what types of insurance do you feel are worth investing in? Have you always felt this way about them? Did something make you change your mind?
What kinds of insurance do you feel are definitely worthy of a pass? Is there a kind of insurance you feel would absolutely never be worth getting?
Of course, if you have any other insurance advice for me, don’t hold back – let me know! Always love learning from what you have to say.