How much do you really own? Seriously, do you own your home? Literally? Because chances are you have a mortgage on your home, meaning you owe a bank or someone money before it is entirely something that is your asset outright. How about your car? Own that? Unless you have that pink slip, or the online comparable, you have a loan on it as well. You may even lease your vehicle, in which case you’re about as far from that actually being your car as you can get.
While we may not have full ownership of some of our higher-ticket items like homes and cars, the third party that loaned us the moola to buy them wants to be sure their collateral is protected. One great way to protect your stuff is to insure them.
