Don’t Buy Too Much Insurance

It’s just as important to avoid overpaying for unnecessary coverage as it is to ensure you have adequate protection.

• Tip:
  Avoid duplicating coverage—For example, you may not need an additional travel insurance policy if your credit card already provides coverage for trip cancellations or lost luggage.
  • For Health Insurance: Don’t buy duplicate coverage. If you have health insurance through your employer, you might not need extra coverage unless it’s to cover specific needs (like dental or vision).
  • For Auto Insurance: Review your auto insurance to make sure you aren’t paying for redundant coverage if you already have coverage from another source (like credit card rental car insurance).