Insurance, which we purchase, is like an investment in our future, to protect us from those unwelcomed situations. Let's understand this with an example: suppose you are driving in a car with your family, having a good time. Suppose a sudden accident happens in that stage your car breaks, and the people in the car get several injuries admitted to a hospital, Just imagine if you don't have insurance then you have to pay the hospital bill, car repair costs, etc., and your all saving goes to Nil.
And if you have both car insurance and health insurance then it acts as a protection shield that saves us both emotionally and financially.