While the article discusses a broad spectrum of financial matters. The section on insurance (rule 8) speaks to the point of insurance being used for the large life changing events and not for the small stuff.
The purpose of insurance is to make sure that you are protected if you have a life-changing event. You donâ€™t need insurance for the $500 problem when somebody hits a baseball through your kitchen window. You do need insurance when the tree falls, thereâ€™s a $50,000 problem and your whole kitchen gets taken out.
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