Insurance Policies You Shouldn't Consider In 2017

2017 is a very promising year for everyone but there are few things you need in order not to spend so much. There are certain insurance that won't be necessary in 2017 and beyond. This article will highlight some of them. You shouldn't consider these insurance because they are just a means of spending much money on needless insurance... we have also written some Insurance Policies To Consider in 2017 and other useful tips.

Universal life 

Typically term life insurance is going to be a better fit for you. Term life costs less, and you can take the premium difference and invest it yourself.

Pet Insurance 

Pet insurance usually is very limited in coverage and very costly.

Insurance on outstanding credit card balances 

This type of insurance can be costly, and there are a lot of loopholes to go through before any benefit is paid.

Extended warranty plans 

These are never a good idea. The warranty premiums are mostly commissions paid to the salesperson. Some credit card companies offer this protection if you make the purchase with their cards.

Collision insurance on older vehicles 

If your vehicle has little or no value, it is better to pocket the premium and place it into a fund for future losses.

Mini Storage Insurance 

As long as you have homeowner’s or renters insurance you don’t need to buy any other special insurance. Most policies have automatic coverage for property away from your primary premises. Call us for details and limitations.

Flight Insurance 

This is completely unnecessary in 2017, as airline accidents are now very rare and your life insurance policy should already provide the coverage in the event of any catastrophe. 

Mortgage life insurance 

This protects the bank, not you. If you were to die, the payout goes to the bank, not your family. You are better off buying term life insurance.

Insurance is aimed at helping you pay for those things that are too expensive for you to pay on your own. Please learn to save!