Is insurance the best theft protection?
When you hear about any type of theft, the first question that comes to mind is usually, “Were you insured?” People feel that insurance is the best theft protection – but is this true? Insurance never gives you 100 percent reimbursement of your losses. The payout depends upon the premium paid, time elapsed from the start of the policy and the actual market value of the insured commodity. From this it’s easy to see that insurance cannot be the best possible theft protection you can get. But if insurance is not the best theft protection, then what is? Prevention – the best theft protection is prevention of theft. Ensure that your home, your luggage, your wallet or handbag are safe by paying attention to small details. Never tempt fate by forgetting to check your windows and doors before you leave your home or go to sleep. Be careful! Insurance is a good alternative theft protection, but never better than prevention.
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