General insurance Why most people refused to Insured their belongings this days?.

[Mataracy]

I have seen that many people now a days do not see taken insuring of their belongings serious talk less of Insuring there life.
Can we say that; people do not trust insurance company that's why they do not like to insured ?.
I think since insurance; can be defined as a contract between two parties whereby the one called the insurer for a consideration (premium) promises to indemnity or compensate the other called the insured in event of the happening of the insured peril.
Since insurance is a legally enforceable contract, each party to the contract - the insurer and the insured must conduct themselves according to the terms and conditions guiding the contract.
So therefore I think with all these analysis people should have find it important to insured their property and even there life.
As for me I use to see some people that insured their property and when fire burn up there belonging insurance came to their rescue by providing them with new things in place of the burnt one.
This shows how important for some one to insured he/ her property or life under insurance company.

Why people scared or refuse to insured their property or life under insurance company?

 

[btaliat]

Insurance policy is very good and vital but I don't see as necessary personally. My reason may not be tenable to some people because we all have different view. Though, nobody knows what will happen tomorrow, but there are one issues that we can prevent. Instead of going to some insurance policy, I would have rather prevented those things I am actually want to insure from happening.

 

[Bookwormlux]

So many people think that these insurance companies are only out there to make money from them and so they would rather invest this money in something that will get them profit within a short time instead of giving it out to insurance companies hoping to benefit someday. This is the major reason.

 

[Setho]

The reason why a lot of people have refused to ensure their properties is because you feel that insurance is very expensive and that they are better off just saving the money instead. A lot of people have also not put money into insurance because they do not know much about it and how it works.