Insurance Coverage You May Not Know You Have

Here are some insurance coverages you may not even know you have!

  • Your homeowner’s policy may cover lost luggage, as well as items stolen from your car and other locations, such as your purse. It also may cover items you have borrowed, property damaged by vandalism, or property damaged in a move.
  • Your credit card may provide accidental death insurance for you if your airline tickets were purchased with the card.
  • Some credit cards offer $1,000 in life insurance for cardholders, free for the asking.
  • The American Automobile Association (AAA) insures its members for hospital and death benefits if they are in an auto accident.
  • Your auto policy includes medical coverage, so if you are in an auto accident, your costs may be fully covered regardless of the co-pay and deductible provisions of your health insurance policy.
  • Your health insurance may cover children who are away at college—check before you buy separate insurance for your college-age kids.
  • Clubs, fraternal organizations, credit unions, and other groups may have free life insurance benefits with their memberships.
  • Your auto policy or credit card may cover damage to rental cars, saving you money on expensive rental car insurance.

Excerpted from the book It’s More Than Money – It’s Your Life! by By Candace Bahr, CEA, CDFA and Ginita Wall, CPA, CFP

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