Buying insurance means you pay an insurance company a certain sum of money, called a "premium," to take care of a risk instead of yourself. Some insurances, like life insurance and car insurance, are very helpful. However, there are some insurances that you don't necessarily require. Most of the time, they have high premium prices, a lot of requirements on collection, and a low return. Other insurances are a waste as it is very unlikely that the thing you are getting insurance for will happen to you.

Here are 7 types of insurance that just aren't worth the money.

Longer guarantees

There are a lot of new things that come with longer warranties, like electronics. These are on top of the standard warranty that comes with new purchases. Statistics show that you are very unlikely to ever need an extended warranty for small items that almost always work as described.

Rental Car insurance

Most often, your auto insurance will cover rental car insurance, so buying the same policy twice is a waste of money. Also, renting a car isn't something people do very often. You'll waste a lot of money and not getting much in return.

Insurance for flights

What are the chances of you dying in a plane crash? Not a chance in hell. So why spend money paying huge premiums for an unlikely event? Also, if something bad happens, you are already covered by your life insurance. If you have good life insurance, you won't have to pay more for flight insurance.

Life insurance for a child

A life insurance policy isn't worth it for a child because they aren't likely to be in dangerous situations all the time. Also, children don't have any heirs who would benefit from their policies, so it's not worth the money to get insurance for them. It is better to use the money to save for their school.

Insurance for credit cards

Why pay a high price for something you can do with a little organisation and reduced spending on Amazon? If you pay your credit card bill on time, you won't need insurance as a safety net.

Insurance for cancer

Cancer insurance is made to pay for medical bills for people who have been diagnosed with cancer. Spending money to cover a very specific illness like cancer is a waste of money. Instead, you should get good health insurance that will cover all of your physical problems.

Insurance for accidental deaths

We get it, you keep stubbing your toe on the bed frame. Accidental death insurance isn't likely to help you unless you often have life-threatening accidents like slipping and falling off a cliff. There are also a lot of rules with these policies that make it hard for the insured to get them.

（Writer：Fuzy）