If you need to reduce the overall insurance costs, you should simply avoid purchasing certain insurance policies which you actually do not use. So, today we are going to tell you about the particular kinds of coverage you can live without. We will touch upon such important areas as life insurance, car insurance and travel insurance. Now, here are the types of coverage which you should stay away from:
1. Collision and comprehensive coverage
This kind of protection is not necessary for autos that have very little or even no value.
2. Rental car insurance
In case you currently have a full-coverage policy, you may check with your insurance agent to understand whether or not you are covered for damaging a rented vehicle. Also, you should have a talk with your own credit card provider about this. You might be offered such coverage. But this can only happen in case you rent a car with your credit card.
3. Mechanical breakdown insurance
If you own a new car or currently have a leased vehicle which is still under warranty, then you definitely do not need this addition to your car insurance.
4. Life insurance
For those of you who are single and have absolutely no dependents it should be underlined that life insurance is not a must-have. Probably you do not need to spend a dime on it if nobody needs financial support from you personally.
5. Travel insurance
There are some health insurance policies available nowadays that cover you no matter where you are. So, they will pay for your medical treatment even abroad. If you have purchased such a policy, there is clearly no need to buy extra travel insurance.
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