If you've ever been in a car accident that was more than just a little fender bender, or if your house or residence has ever been burglarized, you know better than most people how important insurance agents are. If your place gets burglarized, you almost never recover what was stolen. The costs to replace the things that were taken can be more than you can afford all at once, but you may need your things now. If you are in a bad car accident that totals your car or seriously damages it, you may not be able to get back on the road if you cannot fix your ride. These are but a few examples of why insurance is so vital to your life. Without it, you may never recover from an unfortunate situation that you had no control over.
If you can give your agent an accurate estimate of what your things are worth, you can better formulate your policy. This can also save you some stress later on if something happens and your policy must go into effect. In this event, having already calculated the cost of your valuables will give you specific up-front appraisals. Getting accurate value estimates after something has been stolen or damaged, hardly ever works out in your favor.
If you are an elite athlete, you should also consider taking out a policy on your health or future playing capabilities. Let's say you are a star collegiate running back with a great chance to play professional ball, but in your final amateur season you sustain an injury. Even if the injury isn't career-ending, it may hurt your stock moving forward and you could lose significant amounts of money in potential contracts. In these cases, having a policy on your body is a great investment.
