💰10 common insurance mistakes to avoid

Let’s face it—insurance might not be the most exciting thing to think about, but it’s super important. The right policy can be your safety net when life throws a curveball. But here’s the kicker: many people make mistakes when buying insurance, which can leave them overpaying or, worse, underprotected.

Here’s a quick rundown of the top 10 mistakes to avoid so you can save money and get the coverage you actually need:

1. Focusing Only on Price
Sure, cheaper sounds good, but a low-cost policy might not offer enough coverage when you need it most. It’s all about balance—find affordable protection that still covers your needs.

2. Ignoring Policy Exclusions
Those fine print details? Yeah, they matter! Make sure you know what your policy doesn’t cover so you’re not caught off guard later.

3. Choosing the Wrong Deductible
A high deductible can lower your premium, but can you afford it if something goes wrong? Choose a deductible that fits your financial situation.

4. Not Shopping Around for Quotes
Different insurers offer different rates—don’t settle for the first offer. Compare at least three quotes to get the best deal for the right coverage here.

5. Missing Out on Bundling Discounts
Bundling your home and auto insurance can save you some serious cash. Ask about bundling options to keep things simple and more affordable.

6. Over- or Under-Insuring
It’s all about finding that sweet spot. Make sure your assets are accurately covered—don’t guess on their value!

7. Letting Your Policy Auto-Renew

Your life changes, and so should your coverage. Review your policy annually to make sure it still fits your current situation.

8. Not Asking About Discounts
You could be missing out on discounts—good driver, home security, loyalty, and more. Always ask!

9. Picking the Wrong Life Insurance
Term or whole life insurance? It depends on your stage of life and financial goals. Make sure you’re choosing the right type for your needs.

10. Going Solo Without an Expert
DIY insurance might seem easy, but an insurance agent can help you avoid costly mistakes and find the best policy for your unique situation.

By avoiding these common missteps, you can make sure you’re getting the best deal and the right coverage. Got a current policy? Now’s a great time to review it and see if there are any savings or coverage gaps you can address!

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