👉 Insurance is defined as a method of paying for risks and uncertainties that cannot be completely controlled. For instance, imagine you are putting your house up for rent. If there were no insurance policy in place, your landlord might not have the funds to make repairs if something goes wrong. However, if your home had a fire insurance policy, they would cover damages caused by fires or other disasters. So, when we think about insurance, it's like having a safety net that protects us from potentially unforeseen financial storms!
