Take a look at the 5 disastrous insurance mistakes people make:
- Insuring a home for its real estate value rather than for the cost of rebuilding. Insurance is meant to cover the cost of rebuilding, not the sales price of the home.
- Selecting an insurance company by price alone. It’s essential to work with a company that offers competitive prices.
- Neglecting flood insurance. Unfortunately, damage from flooding is not covered under standard homeowners and renters insurance policies.
- Purchasing the legally required amount of liability for your car. Buying only the minimum amount of liability means that you’ll need to cover costs yourself.
- Dropping renters insurance. Bear in mind that renters insurance policy covers your possessions and other living expenses.
Read More Here: https://www.iii.org/article/five-insurance-mistakes-avoid%C2%85-and-still-save-money