What Insurance Plans Are Wasting Your Money?

Having insurance is not only smart, but it is legally required. Insurance such as car insurance and health insurance is mandatory by the state. Other types of insurance coverage, such as home insurance, business insurance, etc. just make sense to get through everyday life. However, there are some insurance policies that you could be paying for that is a waste of your money.
•Extended Warranties. When you purchase any type of television, computer, lawn mower, anything that is a medium investment, you will be asked to purchase a warranty plan along with it. More often than not the warranty plan expires before the machine actually breaks and you wasted money on it. Look into your homeowners insurance and what it covers within your plan to avoid buying extended warranties.
•Rental Car Insurance. Buying rental car insurance when you rent a car can be another situation where you are wasting money because you could already be paying for coverage in your car insurance plan. Contact your insurance company to see if your car insurance covers rentals.
•Pet Insurance. Most people consider their pet another member of the family. However, you should consider pet insurance a luxury insurance plan. Making the decision to buy pet insurance should depend on your financial standing and if it is budgeted within your income. If it is not, then you can go without it. Do not spend money on pet insurance when you are having trouble paying for other insurance policies.
Before you cancel any insurance policies, call our agents at Spivey Insurance Group to make sure you are getting the most out of your money. Our agents are happy to create an insurance plan that is perfect for your lifestyle. Contact us today at 704-821-4460 and follow us on Facebook, Twitter, Pinterest, and Google Plus!

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