If you\u2019re willing to pay the premiums, you can insure just about anything.<\/p>\n According to GEICO, rocker Gene Simmons insured his tongue for $1 million. NFL star Troy Polamalu insured his hair \u2014 also for a cool million. A Dutch winemaker insured his nose for $8 million, but the terms of his policy forbid him from riding a motorcycle or working as a firebreather or a knife thrower\u2019s assistant.<\/p>\n Student Loan Forgiveness: Will You Qualify for $0 Payments Under Biden\u2019s New Plan?<\/a> You might be able to insure anything you\u2019re willing to pay for, but which types of coverage<\/a> are always worth the price of the monthly premiums?<\/p>\n Some experts consider that to be a trick question.<\/p>\n \u201cI would be cautious around anyone that uses the word \u2018always,’\u201d said Infinitive Wealth Advisory<\/a> founder Mark Hayes, a CFP who has worked in the insurance space for nearly two decades. \u201cInsurance is inherently a bet where some win and some lose. However, the biggest losing bet you can take is choosing not to get a policy, only to find out that you need it.\u201d<\/p>\n These are the policies that you\u2019ll (almost) always rather have and not need than need and not have.<\/a><\/p>\n The first one is easy because, unless you live in New Hampshire, you have to have it by law: auto insurance. Regulations vary by state, although nearly all 50 require liability coverage at a minimum. But no matter where you live, hitting the highway without it is trouble waiting to happen.<\/p>\n \u201cAuto insurance is always worth the money, as being caught without it can result in hefty fines beyond what you may face from an accident,\u201d said Paul Boudreau, an insurance broker at Rowat Insurance<\/a>. \u201cAn auto insurance policy not only protects your car but also protects you as the driver when involved in at-fault accidents. Should you get into an accident without auto insurance, you may face medical bills, repairs, legal costs and possibly license revocation.<\/p>\n
Advice: Protect Your Financial Future With Gold and Silver<\/a>
See the List: GOBankingRates\u2019 Best Banks of 2023<\/a><\/em><\/strong><\/p>\nAuto Insurance<\/h2>\n