2012 Excuse No 8: Top 10 Excuses why Nigerians do NOT Insure!

by Free Insurance advice on February 28, 2012 · 1 comment

in All About Claims, FAQS on Insurance, General, Insurance in Nigeria

Excuse # 8:  ‘I don’t need it; it is of money’! 

To this set of people, insurance is a waste of their hard-earned money.

They hinge their on the reasoning that insurance only benefits those who have misfortunes. Since they are always careful to avoid any form of , they reason that insurance is a no-go area for them. These Nigerians are often too quick and proud to showcase their accident-free records. In most cases, they scout around for the cheapest insurance cover which often turns out to be fake but they are unconcerned. Insurance to them is just to meet requirement.

A fundamental flaw of this idea is that most accidents are caused by people/things beyond your control. Think of the accidents on our roads, fire incidents and different forms of catastrophe here and there; they are mostly caused by people or things beyond the control of the victims. It therefore makes sense to consider and embrace insurance since you are probably not in total control of things that could trigger a loss situation.

With insurance, you are also able to manage your resources more efficiently since only a fraction of the risk is paid as insurance premium .

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{ 1 comment… read it below or add one }

Free Insurance advice February 29, 2012 at 8:06 am

Is insurance a waste of money?

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