Is All Insurance Necessary?
by: LeeMac
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Word Count: 466
Extended warranties on your home appliances. Quite often, the extended warranty is often a very lucrative way for the manufacturer or the store to make a lot of extra money on your purchase. Consumer Reports constantly survey tens of thousands of its readers about their purchases, repairs and extended warranties, and they find that in most cases, the extended warranty is not worth it or is at most a wash. Make sure you buying a good product with a good reliability rating and you won't need an extended warranty at all.
Roadside assistance: some people have a roadside assistance coverage as part of their automobile coverage package. But if you belong to an automobile club like AAA, then you're wasting your money. And if you have a brand-new vehicle you may find that many companies have roadside assistance as part of the purchase price. You may be able to even give up AAA for a few years, until the coverage from the automobile company runs out.
Having the maximum coverage for personal injury protection on your car insurance. Check out your health insurance policy. Are you covered there? If you are covered, then you have no need to spend money on something you don't need. If you still feel you would like additional coverage then buy the minimum on your auto insurance.
Rental car insurance: This is one that most people are not aware of. Quite often, when you pay for a rental car from a major credit card supplier you will be automatically available for the rental car insurance. Check with your bank or credit card company before you take your trip to determine if they will cover you and exactly what is being covered.
Travel insurance: Check to see if your current health insurance policy will cover you on your trip. Make sure you know whether you are covered in your home country or if you decide to go abroad. You may find you don't need any further coverage beyond your present policy. If you're well covered for all contingencies in your normal insurance policies you won't need travel insurance.
Don't be a fool and refused to spend good money on a good insurance policy just because you're cheap. You can live to regret it. On the other hand, make sure you do spend your money wisely on insurance packages that will give you the most bang for your buck. You work hard for your money, make it work hard for you in return.
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