Usually Waste Money Choosing insurance is all about reducing risk and betting on whether or not a disaster will occur.
Although homeowners or renters insurance is not required by law, your lender or landlord may require it. In almost every state, liability coverage at the very least is required.
Many people consider health insurance to be a worthwhile investment; you can likewise purchase protection for your pet, important property, charge cards, and every kind of life-and-passing situations. But should you?
Whether or not you buy insurance and how much coverage you get depend on your particular risks and needs, and you should look at yours first before making any decisions.
However, here are seven kinds of insurance that you probably shouldn’t buy.
Insurance for renting a car The rental car company will always try to get you to sign up for their insurance policies in case you get into an accident and damage your car.
However, if you already have auto insurance for your own vehicle, you probably already have coverage, so purchasing an additional policy is pointless.
As long as you pay with the card, many travel credit cards also include coverage for rental car insurance.
Obviously, read the fine print of your policy and the limits of your coverage. For instance, your US auto insurance may not cover cars rented abroad.
When booking a pricey flight, cruise, or hotel, it’s tempting to add trip protection. In some cases, it might be worth it.
However, there are some restrictions and exclusions to travel insurance, and if you pay for your reservations with a travel rewards credit card, you may already be covered in the event of a trip interruption, delay, or cancellation as well as for lost baggage.
