Insurance: What You Need and What You Don't, How to Avoid Skimping and Overspending on Your Policy

Suze Orman starts this series just as I would, so I'll let her say it:

I'm not going to pretend the subject of insurance is sexy or exciting. But it sure is an important and, yes, potentially dangerous topic that deserves your full attention.

Yes, it's boring. But it is important. And if you want to protect yourself and your family (and potentially same some money), you should read on:

I say dangerous because if you screw up and don't have the right coverage-be it auto, home, or life insurance-you are risking financial disaster. All it takes is one mishap or setback that isn't covered by an insurance policy and you, or your loved ones, could easily end up bankrupt.

That's why it's well worth your time to make sure you have the right insurance coverage.

With that said, I'll be covering Suze's various insurance articles over the next few days. I hope you come back to read them -- they could make a BIG difference in your financial health.

Comments

[monty loree]

In light of the hurricane katrina disaster, life insurance is going to be the only source of financing for some families to rebuild.

The logic is the same for the individual's case.

Life insurance isn't boring for the beneficiaries of the New Orleans disaster.

[FMF]

Monty --

For the people who have life insurance, I'm sure they'll be thankful. For people who don't, they'll wish they did. However, my experience in writing and talking about personal finances is that most people do find insurance to be a boring topic (and one they don't want to have to deal with). Maybe Katrina will change that viewpoint (at least in the short term).

FMF

[YoungMiser]

It is important to have insurance and to not have the bare minimums. It is also important to gauge risk, because insurance companies prey on "what if", and each time they say that, it costs you money.