Life Insurance - Auto Insurance - Travel Insurance - Business Insurance
Whether you are looking for Life Insurance, Auto - Car Insurance, Travel Insurance, Business Insurance, Courier Insurance,….you should always know how to reduce your overall insurance costs. That is mostly done by avoiding purchasing insurance policies that you do not need.
So, which life insurance, car insurance, and travel insurance policies are not needed?
The list of policies one may not need will be different for everyone because of the difference in individual risk.
- Comprehensive and collision coverage on your car insurance - This is not necessary for automobiles that have little or no value.
- Maximum personal injury protection coverage (PIP) on your car insurance - If you have a a good health insurance policy, your injuries should be covered. If you prefer some protection, just buy the minimum.
- Roadside assistance - If you already belong to an automobile club like AAA, you don’t need this included with your car insurance.
- Mechanical breakdown insurance - If you currently own a new car or have a leased vehicle that is still under warranty, you don’t need this added to your car insurance.
- Rental car insurance - If you have a current full coverage policy, check with your agent to see whether you’re covered. Also, check with your credit card provider - it may offer coverage if you use the card when renting.
- Travel insurance - If your current health insurance policy covers you abroad, you probably don’t need further coverage.
- Life insurance - If you are single and have no dependents (this includes avoiding life insurance for children!). Find out if your are covered through your employer.
- Extended Warranties on Appliances - In the end, these can cost more than just buying a replacement appliance.
- Insurance on outstanding credit card balances - This type of insurance can be costly, and there are a lot of loopholes to go through before any benefit is paid.
- Credit Insurance - This is voluntary insurance on your mortgage. A typical life insurance policy would be a better option.
After all always remember to get the right insurance that you need, in the right time!
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