INSURANCE?

You have to do insurance to remain insured about your future.what would happen if your house set on fire and everything ruins,if you have insurance than insurance company will pay you for your losses.
Insurance is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a reward, and can be thought of as a guaranteed small loss to prevent a large, possibly devastating loss. An insurer is a company selling the insurance; an insured or policyholder is the person or entity buying the insurance. The insurance rate is a factor used to determine the amount to be charged for a certain amount of insurance coverage, called the premium. The practice of appraising and controlling risk, has evolved as a discrete field of study and practice.