Car Insurance

Insurance is either a confusing, scary, or boring word for most college students. The most simple way to understand what insurance is would be to say that a bunch of people (policyholders) pay into policies in case something happens to either a tangible object (phone, car, home, laptop, jewelry, etc.) or a person (health insurance, life insurance, disability insurance, cancer policy, stroke policy, long-term care policy).  Most people don't have enough cash to replace the thing that they are insuring (imagine having enough cash at all-times to replace your car) so they pool their money with others, and for a certain price, their asset can be replaced.