3 Types of Protection You Do Not Need

insurance you don't needWhen it comes to being financially fit, being protected is a must. For example, having proper health insurance to cover large medical bills, homeowners insurance to cover damage from a natural disaster and auto insurance to cover an accident.

But there are 3 kinds of protection that might not benefit you:

#1: Extended Warranties.

Most companies charge 15-25% of the purchase price. The problem here is in the fine print. Some of the product repairs might not be covered under the warranty. At the end of the day, it could be cheaper to get a new one if it breaks.

#2: Rental Car Insurance.

If you have ever rented a car before, you know you will get the offer for “loss damage waiver” insurance before you leave the rental office. But chances are, you might be covered already, if you have auto insurance on your car at home, and/or your credit card provides this coverage for you. It pays to call your credit card company and ask them about this before your next rental experience.

#3: Travel Insurance.

It’s estimated that basic travel insurance will cost you about 5-7% of your vacation cost. And if you choose a plan that covers cancellations, it will cost you 40%. So think twice and do the math, before you buy any insurance for your travels.

Remember… every dollar counts!

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