Do You Need This Insurance?

Risky Business

Insurance is a tricky business as you are essentially paying to protect yourself from something that may or may not occur. But does a future full of endless possibilities require that we insure ourselves against each and every one? While the answer to that question isn’t simple, Brian Smith, Insurance Edge adviser to American Express, does acknowledge many Americans end up with coverage that they don’t need since they often have it already. For example, married couples often end up with overlapping extensions in their life and health insurance policies, particularly when neither reads up on what’s included in separate policies. Additionally, consumers can opt for policies that aren’t worth the expense. “Sometimes, buying as much insurance as possible isn’t the best advice,” Paul Berger, a Florida insurance attorney who focuses on disaster law, says. Photo Credit: stallio