Last month, I purchased books off Ebay but opted not to pay insurance for them. They were lost in the mail and since they were not insured, I couldn't get a refund. I did get a half-hearted "I'm sorry." from USPS and was instructed to furnish them with so many types on fino, without guarantees of ever being reimbursed. Essentially, I just lost money while the seller got to keep her earnings.
Now, typhoon Ondoy has ravaged NCR and with it, businesses and homes were destroyed. Even paint jobs can cost thousands, how much more, cars carried away by flood water? Not only that, people have also died and I cannot help but wonder how many of their employers have gotten key man insurance?
Insurance may seem added cost when you don't need it yet. And if you never do, so much the better for you. Still, it does serve a really good purpose for really important matters such as life and health, home and business, security and peace of mind. So don't be stingy and get one for these things. Be insured. Make sure that when you lose something, there is something to lessen the blow.