It covers the cost of repairs to your car if you're responsible for an accident.. But as Carolina's Choice Insurance Agent Max Fain tells us it's not mandated by the state and...
"If you drive an older vehicle that you can replace for not very much money, it might be worthwhile not carrying collision," said Fain.
Your chances of needing one are rare, especially if you buy brand named electronics. So it's unlikely to pay off.
This covers your family if you die in a place crash.. but if you have life insurance that does the same, plus Fain points out...
"The safest way to travel is in an airplane. They just don't crash very often," said Fain.
Credit Card Insurance
Industry experts say spending money on coverage when you should be saving that to pay off your debt just doesn't add up."
Water Line Coverage
This pays for repairs of the pipe from your house to the street. But if you live in a house built after the 1950's chance are you'll never need it.
In this economy it sounds attractive, but saving that money in an emergency fund is a better option since you'll also get checks from the government.
Accidental Death Insurance
It's open enrollment for many workers right now. But experts suggest you put more into overall life insurance and don't waste your money on overly specific policies.
Fain says when in doubt remember...
"The real specific policies are going to be better for the insurance company than they are for the customer."
Tag : Insurance