Before You Cut Back Insurance, Consider Discounts, Adjustments
Cash-strapped families might be tempted to let insurance policies lapse or, at the very least, reduce auto, home and life insurance coverage.
That may be possible in some cases, but making dramatic changes may not be necessary to save money. “Families should consider whether a short-term saving is worth the long-term risk,” says Roger Sevigny, president of the National Association of Insurance Commissioners.