The Best insurance is usually the Worst for you
Okay this one NEEDS an explanation
Insurance is meant to give you peace of mind in case something horrible happens, God forbid.
Many people recognize this, but take it too far.
What I mean is that they add all the little extras on to their policy, no deductible glass coverage, freezer item spoilage, extremely low deductibles, etc. These bells and whistles can be great under certain circumstances.
When you need insurance to kick in, you claim the accident and then pay a deductible.
When this happens your insurance score is affected. To other insurance companies you are seen as someone you has a higher risk association. As a business, they would much rather protect someone who isn't seen as "high risk" because means they're more likely to have to pay for something.
If that is the case, they will raise to your premiums to compensate for the risk (you).
So let's say you get insurance with all the bells and whistles as mentioned above.
You're going to claim every. Little. Thing.
Crack in the windshield-claim it
Dent in the wall- claim it
Stolen $100 watch-claim it
Why wouldn't you, right? You're paying for insurance for a reason.
The problem is that this is will make you look like you're an extremely risky file to insurance companies. Therefore, your insurance rates will go up.
So what's the point?
Don’t pay for excessive insurance.
Don't get cheap insurance either.
Get solid insurance, and only use it when it makes sense.
Which, hopefully, isn't often.