Insurance can be great when it protects you from things that could go wrong. However, there are certain situations when the insurance just isn’t worthwhile and could cost you unnecessary money to carry. Take a look at a few examples from SavvySugar:

Pet Insurance

In most cases, the total medical costs incurred in a pet’s lifetime are less than the cost of pet insurance coverage. With pet insurance, there’s no co-pay system. You unfortunately have to pay all of the costs up front and wait for the providers to reimburse you. It might just be easier to go without insurance or look into “accident and illness” pet coverage instead, which is much cheaper.

Divorce or Wedding Insurance

Financial planners in general are not fans of this kind of insurance that protects you should you need to cancel your wedding or get a divorce. A good emergency fund should be able to help you with the costs if either of these unfortunate things should happen.

Private Mortgage Insurance

PMI is required when you can’t put 20 percent down for the down payment of a house you want to buy. This insurance is tacked onto your monthly mortgage and interest payments and is of no benefit to you. Instead, it protects the bank when they’re dealing with borrowers who have higher risk of defaulting. Wait until you can afford the 20 percent down payment before buying the house so you don’t have to pay for PMI.

To read about 4 more insurance policies that aren’t worth it, head over to SavvySugar’s 7 Insurance Policies You Can Live Without.