Although it may seem strange to say, there are some days when you are really better off not buying insurance. All you have to do is make sure you know what you DO have in order to not spend money unnecessarily. Let's take a look at a few areas to help you better understand this concept. 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. Credit insurance policies are often sold along with home mortgage loans. They promise to cover the mortgage payments in case tragedy strikes the homeowner. But credit insurance policies don�t insure the full term of the loan! They usually on;y cover the first 3 to 5 years of the loan, even though your mortgage may be for 30 years! And single premium credit insurance is usuaully overpriced when compared to term life insurance.
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.
Keep in mind that by avoiding the above situations in various insurance policies, you will not necessarily reduce your risk. You could still end up with a loss in any number of these circumstances. But understand that what you are doing here is making sure that you spend money wisely on the insurance that you do need.
You don't want to waste your valuable resources on insurance policies that simply don't make any sense.
Find the life insurance you and your family really need at http://www.find-insuranceonline.com/
