Last month, one of my employees had a minor fender bender while making a delivery. Nothing major, but it got me thinking...maybe I'm paying for more insurance than I really need. Anyone else ever wonder if they're over-covered or under-covered?
Had a similar thought last year after a small scrape during a weekend road trip. Decided to sit down, pull out my policy, and really break down what each coverage meant. Turns out I was paying extra for roadside assistance and rental coverage I didn't really need—already had AAA and a backup vehicle. Might be worth checking line-by-line to see if you're doubling up on anything...could save you a decent chunk each month.
"Turns out I was paying extra for roadside assistance and rental coverage I didn't really need—already had AAA and a backup vehicle."
Good point about checking for duplicate coverages, but I'd be careful cutting back too much on rental coverage. Had a minor accident last year myself, nothing major, but my car ended up in the shop for almost two weeks waiting on parts. Thought I was set with a backup vehicle too, until it decided to break down at exactly the wrong time (typical luck...). Ended up needing that rental coverage after all.
I get wanting to trim the fat off your policy—totally makes sense—but sometimes those seemingly redundant coverages can save your butt when you least expect it. Maybe just dial down the limits or choose a cheaper option instead of dropping them entirely? Just something to think about before you make any big changes.
