| Insurance is generally something that you | | | | There are a couple of exceptions to note. If |
| purchase in order to protect you and your | | | | the car rental is for business use, check to |
| family from the potential financial loss | | | | see if your employer's business policy covers |
| caused by a catastrophic event or serious | | | | you. And if you will be driving outside of |
| illness. | | | | the US, your agent can tell you if you will |
| | | | require special coverage. |
| But there are types of insurance that don't | | | | |
| really provide that peace of mind for you, | | | | Unreasonably Low Deductibles |
| that are not required, that cost more than | | | | |
| you could ever benefit from, and that are | | | | While this is not technically a "type" of |
| best avoided. | | | | insurance, it is an insurance expense that |
| | | | you can do without. A lot of people carry |
| Here are 3 types of insurance that you can | | | | lower deductibles because of the peace of |
| "just say NO" to. | | | | mind it gives them. But how many times do you |
| | | | really need this lower deductible? And |
| Life Insurance Sold By Credit Card Companies | | | | nowadays, while you may be required to carry |
| | | | insurance, it is often detrimental if you |
| Credit card companies will offer you | | | | actually use it! |
| insurance that pays off your credit card | | | | |
| balances when you die. If you already have a | | | | So if filing a claim will jeopardize your |
| life insurance policy, either obtained on | | | | insurance coverage, you may want to only file |
| your own or through your employer, that will | | | | a claim that you really can't handle. It |
| do the same thing. Why pay the credit card | | | | makes much more sense to raise your |
| companies a much higher premium for the same | | | | deductible and "self-insure" for the smaller |
| thing? | | | | claims, using the savings from your lower |
| | | | premiums. |
| Rental Car Insurance | | | | |
| | | | If you decide to increase your deductibles, |
| When you rent a car, they always ask you if | | | | be sure to put your saved premium dollars |
| you want auto insurance which will cover you | | | | into a savings account so that you can pay |
| if you are in an accident in the rental car. | | | | for those losses that fall below your |
| If you have your own auto insurance, you will | | | | increased deductible amount. |
| most likely not need this. Check with your | | | | |
| agent to be sure, but most policies cover you | | | | Specialty-type coverages, like the ones |
| regardless of what car you are driving. Even | | | | mentioned here, can usually be covered with |
| if your regular policy only offers this | | | | another good broad-based policy that you |
| coverage by adding a "rider" to your policy, | | | | already have. And why are these speciality |
| the cost of the rider will most likely be | | | | insurance polices more expensive? It costs |
| much cheaper than paying the higher per-day | | | | more for the insurance companies to |
| charge that the rental agency will charge | | | | administer these policies … so guess |
| you. | | | | who ends up paying for the extra costs?! |
| | | | |