Insurance

Person with a black umbrella walking along a rainy urban street.

What is Insurance?

Insurance transfers risk from you to the insurance company. The company pays a claim if a covered event occurs. While not fun, insurance is necessary and sometimes legally required.

Almost everything can be insured.

Key Terms

Almost everything can be insured.

Assess Your Risk

Consider where to transfer risk. Can you afford a house fire out of pocket? If not, homeowner's or renter's insurance is essential.

Some insurances, like car insurance, are legally required with minimum coverage.

MUSC students may self-enroll in our Brightspace Financial Literacy Course to explore more on car, disability, health, home, life malpractice, and umbrella insurance.

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