Quote:
Originally Posted by Battlebasset
If you are getting the same letter I am, they cap the pay out at $1000. So for $10 per month, you could save that, and pay for it in about 8 years. Not worth it IMO.
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The 8 year observation is important. The same can apply to other special insurance policies. If you save the premiums you will probably not exceed the repair cost in your lifetime. For example I cruise a lot and never get insurance. Never had a claim so if I have one in the future I will still be ahead from past self-insuring. Remember insurance is for repair costs you can not afford.