Insurance Policies : Which Do You Need, Which Should You Skip?

June 1, 2012 at 8:45 am Leave a comment

http://www.msnbc.msn.com/id/32545640

Insurance is protection against unexpected expenses and insurance policies are available for nearly any scenario you can envision — even your own ransom. But just because an insurance policy is available, that doesn’t mean you should buy it.

Some insurance policies give you good bang for the buck. Others are plain wasteful.

In this 3-minute segment from NBC’s The Today Show, you’ll hear of several common insurance policies and their relative merits to people of Michigan who purchase them.

For example, Americans will spend an estimated $450 million on pet insurance this year. Because of the policies’ restrictions and deductibles, though, it’s an insurance policy that rarely pays off. This is one reason why financial experts often recommend that you pass on purchasing pet insurance.

Within the segment, other reviewed insurance policies include :

  • Mobile phone insurance
  • Flight and travel insurance
  • Extended warranties for electronics
  • Umbrella policies
  • Renters insurance

There’s also discussion about home warranties, and why you should avoid policies that last longer than one year.

Insurance should be an important part of your overall financial plan. However, the key is to have the proper policies in place, with an appropriate amount of coverage. Review your policies annually and keep your coverage current.  

Advertisements

Entry filed under: Personal Finance. Tags: , , .

Pending Home Sales Slip In May What’s Ahead For Mortgage Rates : Week Of June 4, 2012

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Trackback this post  |  Subscribe to the comments via RSS Feed


Don Grimes

Click On Logo For More Info

Don Grimes
"Your Residential Mortgage Specialists"
Senior Mortgage Loan Officer
NMLS: #130686

Michigan Mutual, Inc
Office: (517) 507-0151
Toll Free: (800) 521-1642
Mobile: (517) 927-8110
don@DonGrimes.com
www.DonGrimes.com

Enter your email address to follow this blog and receive notifications of new posts by email.

Join 1,112 other followers


%d bloggers like this: