Quote:
Originally Posted by Mark T. DeNucci, Sr.
I also purchase the NASO Game Fee Replacement Insurance, and that is a dollar for dollar deduction.
|
It is highly doubtful that will ever pay for itself. With a RARE exception, you always spend more on insurance than the benefits you will ever receive. If that were not the case, no company could ever make a profit selling insurance.
Insurance should only be bought when you can't afford to take the loss yourself. For most people, losing a few game fees is not a major loss and certainly not worth the cost of buying the insurance year after year. Instead, just deposit the insurance premium in a savings account. In 2-3 years, you'll have enough to pay for whatever games you're likely to miss over your career.
The same thing applies with any other insurance...only insure what you can't afford to cover...set your deductibles as high as possible, up to what you can cover when the need arises. Don't get them as low as possible so you don't have to spend when something happens, you're just paying it all in advance and paying more. You just don't realize it since it is paid over time.