Sometimes We Don’t Sell Insurance…Here’s Why

Insurance Text On Cloud

It is not very often that an insurance agent will say, “Don’t buy that insurance.” Well, we say it often! Remember, we are developing a conversation on a new way to serve our insurance clients. We will be the first to say that certain insurance may not always be best for your needs. We believe each client is unique and therefore requires unique insurance solutions.

Cliff Heath Insurance provides the personal, auto, and homeowners insurance Mt. Pleasant, SC residents trust. Our insurance agents will help you find the plan that will protect your closest and most valuable assets

Here are some examples of insurance products you most likely do not need to buy.

  1. Universal life – Typically term life insurance is going to be a better fit for you. Term life costs less, and you can take the premium difference and invest it yourself.
  2. Extended warranty plans – These are never a good idea. The warranty premiums are mostly commissions paid to the salesperson. Some credit card companies offer this protection if you make the purchase with their cards.
  3. Pet Insurance – Pet insurance usually is very limited in coverage and very costly.
  4. Collision insurance on older vehicles – If your vehicle has little or no value, it is better to pocket the premium and place it into a fund for future losses.
  5. Insurance on outstanding credit card balances – This type of insurance can be costly, and there are a lot of loopholes to go through before any benefit is paid.
  6. Mini Storage Insurance – As long as you have homeowner’s or renters insurance you don’t need to buy special insurance. Most policies have automatic coverage for property away from your primary premises. Call us for details and limitations.
  7. Rental car collision insurance – if you already have collision insurance from your personal auto insurance you don’t need to buy additional insurance from the rental company. However, opting for the additional coverage could be worth the price if you don’t have collision insurance. But if you’re charging the rental to your credit card, it’s also possible to get the coverage through them.
  8. Mortgage life insurance – This protects the bank, not you. If you were to die, the payout goes to the bank, not your family. You are better off buying term life insurance.
  9. Flight Insurance – This is completely unnecessary, as airline accidents are rare and your life insurance policy should already provide the coverage in the event of a catastrophe.

Insurance is designed for the accidents and unexpected events in life that are too costly to pay on your own. Call us for more information.

 

April 13th, 2015 by Cliff Heath Insurance