9 insurance mistakes clients make
Generally, any insurance beats no insurance, particularly if you're talking life or health coverage. But insurance isn't a "commodity like salt or sugar," says Bill Wilson of the Independent Insurance Agents & Brokers of America. "There can be a dramatic difference in coverage from one policy to another." One homeowners policy might cover all water damage, for example, while another might pay only if you notice it right away, excluding the effects of a pipe that has caused mold growth over a long stretch. In health care, coverage and price differences can be especially dramatic. "The cheapest is rarely the best," says Joseph Ditré, executive director of Consumers for Affordable Health Care.