Biggest Mistakes In Personal Insurance

[scott]

Several years ago I came up with a list of the 20 biggest mistakes in the personal insurance programs that I saw. Here's my list:

Mistake #1 - Not Having the Right Agent
Mistake #2 - Failure to Monitor the Financial Rating of Your Insurers
Mistake #3 - Failure to Review Your Coverage at Least Once a Year
Mistake #4 - Splitting Coverage between Two or More Insurance Agents
Mistake #5 - Renters without Insurance
Mistake #6 - Failure to Understand Homeowners Policy Limitations
Mistake #7 - Contents Valued on Actual Cash-Value Basis
Mistake #8 - Using Insurance to Pay for Little Losses
Mistake #9 - Not Considering Flood Coverage for Your Home
Mistake #10 - Depending on Personal Insurance to Cover Your Business
Mistake #11 - Not Considering Earthquake Insurance
Mistake #12 - No Coverage for Libel, Slander, False Arrest
Mistake #13 - Not Maximizing Your Medical Reimbursement Account
Mistake #14 - Buying Collision Insurance on an Old Vehicle
Mistake #15 - Not Buying the Collision Damage Coverage for Rental Cars
Mistake #16 - No Umbrella Liability Policy
Mistake #17 - No Disability Coverage or Buying the Wrong Kind
Mistake #18 - Not Buying Enough Life Insurance
Mistake #19 - No Will or Old Will
Mistake #20 - Misunderstanding the Hazards of Volunteer Work

The white paper has been quite popular.

What mistakes don't belong on the list?

What mistakes should be added to the list?

Id like to keep the list at 20 - if you add one you must take one off.

[dev1nsan]

that list seems like it could be summed up in a sentence, buy more insurance and know what kind of insurance your buying.