Insurance is a form of risk management that provides financial protection against loss or damage. It can help protect you and your family from unexpected events such as illness, injury, death, accidents, property damage, and other losses. Insurance allows you to spread the cost of these risks over time by paying a premium in exchange for an agreement to pay out a certain amount if something happens. Different types of insurance policies are available depending on your needs and budget. These may include life insurance, health insurance, auto insurance, homeowners insurance, renters insurance, business insurance and more.