- You don’t own a car, walk everywhere or take a bike. You may not need auto insurance.
- You are going to win the lottery. You may not need life insurance.
- Your rich uncle is going to leave you millions of dollars. Cancel that personal umbrella policy.
- Phil Knight just named a shoe after you and your royalties will be millions of dollars. You may not need disability or long-term care insurance.
- You are freak of nature, and your doctor says you can’t ever get sick. Maybe it’s time to reduce your health insurance.
- You have a time machine so you can travel to the future and save yourself from every accident.
A Texas Insurance Update Every agent offers tips and suggestions on why you should buy insurance. But here are a few reasons not to buy insurance. Insurance is designed to protect you from unknown events that might cause you a financial loss. But you may think insurance is not worth it or just cost too much. So here are our reasons not to buy insurance.