Last Updated on February 25, 2021
3. Under insuring
The other common insurance mistake is not having enough insurance! By calculating the cost of basic insurance, you may find that it’s a little bit costly and maybe you are better off saving up without it. In that case, do a little research in your mind and count how much it will truly cost you if you got in an accident, got extremely ill, needed surgery, lost your house to fire, or any other unexpected incident. Wouldn’t the cost be a lot higher? Suddenly, you will find yourself broke with unlimited debt. Always think ahead before making a decision because these insurance policies are there for a reason: to protect you.
