Final answer:
Buying more than minimum coverage insurance is not necessary and a waste of money is false because higher coverage limits protect against risks and expenses, reduce the risk of being underinsured, and provide adequate protection in unforeseen events.
Step-by-step explanation:
Buying more than minimum coverage insurance is not necessary and a waste of money. False.
While it is true that minimum coverage insurance meets the legal requirement, it may not adequately protect you from potential risks and expenses. When accidents or other incidents occur, insurance with higher coverage limits can help cover medical expenses, property damage, and legal liabilities.
Additionally, buying more coverage reduces the risk of being underinsured and having to pay significant out-of-pocket expenses. It also ensures that you are adequately protected in case of unforeseen events.