In most of my post, the word "protection" will appear most of the time to replace the term "coverage" because I strongly believe that Insurance is Protection.
In the context of risk management portfolio, we always wanted the most comprehensive protection which protects as many risks as possible. One very good example that can be used as a metaphor is - Home Security. There are a few things we need to take note when it comes to setting up a good Home Security.
First, we do not know which door or window the burglar will try to break in from. If they really want something from our house, they will even dig a tunnel that leads right underneath our safe. In this sense, it is pretty much the same as the risk we faced everyday, you will never know when you will step right in front of an oncoming vehicle!
A good Home Security system takes care of every door and window from burglar infiltration. Every door and windows that might be an entry for the burglar to your house is protected, leaving nothing to chance.
If a good Home Security system keeps each and every door and windows from potential break-ins, what should your insurance protection plan do to ensure all your personal risks is taken care of?
We start with one of the most important protection you should already have by now - Personal Accident Insurance
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