Insurance purposes refer to the reasons for obtaining insurance coverage, which primarily include financial protection and risk management. Individuals and businesses purchase insurance policies to safeguard against potential losses from unexpected events, such as accidents, natural disasters, or health issues. This helps ensure that they can recover financially without facing significant hardship. Additionally, insurance purposes often involve legal requirements, such as auto insurance for drivers or workers' compensation for employers. These policies not only protect the insured but also provide peace of mind, knowing that they have a safety net in place for unforeseen circumstances.