5 Ways You Could Be Over-Insuring Your Car
It is prudent to have insurance, but it is also smart to have the right amount of insurance for your needs. If your car is over-insured, you are simply giving away money to the insurance company, and regardless of how nice your insurance agent is, you can probably find a better use for that cash.
Over-insurance can be hard to determine because it depends on subjective criteria — specifically, your tolerance for risk. However, in the field of auto insurance it is a little easier to determine a good balance of risk.
Consider the different types of insurance that make up a typical auto policy:
- Liability – With the exception of New Hampshire, every state requires liability coverage that covers injuries to other people (including passengers) and property in case of an accident that they cause. You nee...
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