Insurance Is Just That, InsuranceWhen we think of insurance, what typically comes to mind is the usual health insurance, life insurance, etc. I am usually one that doesn't mind paying a little extra to make sure that something is "guaranteed", but I have a new appreciation for insurance. I thought I would share my experience in case some of you out there, and I was one at one time, think it is a hassle and a waste of money to purchase additional insurance.

This year my husband and I decided to plan early to take a vacation. We booked our week long vacation to Mexico for December way back in early spring. We booked it, we paid it off in payments over about 6 months, we saved up for our spending money. 

It was truly the first vacation we had actually planned and prepared for to avoid the pitfalls of adding any more to our debt. I was pretty proud of us. Then IT happened. A mere 12 hours before we were to board our plane to paradise, my husband called me from work. They were doing layoffs at his job...he was safe and had "made it through" the layoffs, but he was told he had to be in Arizona that upcoming Tuesday. 

When he reminded management about his schedule vacation, their answer was - "you can go, but we have no problem calling someone that just got laid off back in to take your place and you may not have a job when you come back..." Ouch.

Obviously, it was a no brainer, we weren't going on vacation. I called the agency that we booked through and of course when they asked if I had purchased the travel insurance, my answer was "nope".

You don't want to think of things that will go wrong when planning a vacation! There was nothing that I could have foreseen that would have prevented us from getting on that plane. The long and short of it, we got some of our money back but the plane tickets were only a credit. When we re-booked our getaway we had to pay an extra $150 per ticket to change our reservations.

So I got to thinking about some of the other "insurances" that we don't think are important enough to look into or pay the small extra fee: 

  • The insurance credit card companies offer if you lose your job or are unable to make your payments
  • The extra insurance on a rental car
  • Pet insurance,
  • Renters insurance

When it is broken down, the cost of adding a little "peace of mind" is really not that much and when something does happen, it is worth it.

Is it just me? Because I had something happened that was unforeseen that now I am re-thinking so many other aspects of insurance....could be

But truth be told, if I had total coverage on my lost vacation, I may have been a little more excited when I was rebooking instead of counting the additional money I had to spend to get my little piece of paradise. Just saying.

Related Posts:

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Expecting The Unexpected: Natural Disaster Insurance

The Ins & Outs of Insurance after a Divorce

katie simmons lupo CareOne Customer Blogger, My Journey Out of DebtKatie (Simmons) Lupo

Katie is currently enrolled in the CareOne Debt Relief Services Debt Management Plan (DMP). You can read more about Katie's experience in the My Journey out of Debt blog. In her blog, Katie explores life without credit cards, living on a 'real' budget and making that adjustment from spender to saver. A newlywed, Katie candidly addresses how debt has influenced her choices in love and life. Look for older posts by Katie under the Single and Settling In blog. Compensated Blogger for CareOne Debt Relief Services.

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