Don’t forgo needed insurances for auto, home, life, and disability.  You do not want to be left broke after a serious emergency. However, you can save some money by increasing your deductibles. Full coverage is not always required but you want to be protected in a worst case scenario.

Life Insurance is critical for anyone supports a partner, children, or aging parents financially.

Get renters insurance if you are renting your personal residence. Renter’s insurance will protect you against damage or loss to your personal belongings when you occupy a rental unit. It can be anything from a studio apartment to an entire house or mobile home. Renter’s insurance also can provide liability protection for you in case someone is injured on your rented property.

If you’re planning to have a baby in the next year or so, you should buy life insurance.

Your best guarantee for low rates is to keep your driving record clean of accidents, violations, and claims. Typically Insurance companies look back 3 years.

If your car is older, and paid for, it may make sense to drop comprehensive coverage and collision coverage. Check the value of your vehicle first. If your car is damaged or stolen, your insurer will only cover you up to the actual cash value.

If you are getting married and your soon-to-be spouse relies on you as the bread winner to live the lifestyle you share, it’s time to get life insurance.

Raise your deductibles. The lowest deductibles come with the higher premiums. So if you’re a good driver and can afford the higher deductibles, considering increasing them.

If you are self-employed, starting a family, or paying off debt, it’s also a good time to consider purchasing life insurance.

When you are deciding the amount of coverage for a life insurance policy, you should include all of your debt to ensure your beneficiaries receive enough money in the event of your death to pay off your outstanding balances completely. Obviously wIth the largest debt for most Americans being a mortgage, but you should also consider your student, auto and personal loans as well as any credit card balances, if you have them.