H. Hunt Charges Quotations

In many cases, insurance will only cover 80 percent of the charges and 80 percent of $40,000 bill could still leave someone with an $8,000 balance.

The typical rate is 75 cents for each $100 of loan coverage per month. So your credit card charges a 15 percent finance charge and the insurance adds another 8 or 9 percent. That's not an insignificant amount of money.