The value placed on a possession is created through a combination of personal importance and monetary value. Personal importance might stem from practical circumstances, such as protecting one's livelihood, to sentiment and nostalgia. We protect possessions because they help trigger memories of the past and tell us, and others, who we are and who we have been. Possessions have become especially useful in cases of Alzheimer's as they can act as a vital link to the self.
Individuals can protect their valuables themselves using items such as traps, locks or fences, while spiritual items can be used to defend possessions through shared belief. Another communal institution is insurance, as individuals are not left to deal with a risk themselves. Money is paid in overtime to secure assistance from a company in the event of future damage. While insuring items does not physically stop an object from being damaged, recuperating the monetary value of the item can protect people’s livelihoods.
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