You need to insure a number of important things in your life. You are required to have insurance for your car and your home in order to legally own and use that kind of property. It is also necessary to have health insurance and life insurance. There are a lot of other things you can insure, but these are the most important to have covered in case of an accident.The nature of insurance is to take care of you personally and financially if there is an accident. Sometimes people scoff at the idea they are paying hundreds and thousands of dollars yearly for something they may never use if they are a safe, healthy person. In the event something does go wrong however, coverage can save you from enormous costs, sometimes so expensive you could go into short or long-term debt because of it.Car insurance is necessary in order to be able to drive your car. If you are pulled over for any reason and you are not able to provide proof that you are currently insured, then you will either get a ticket or be taken to jail. If you do not have updated information in your car, you will get fined. In the event of an accident, without being covered you will often be required to pay for damages for the other party if you are at fault. You will also have to pay for your own damages regardless of whether it was your fault or not. This can be extremely expensive. When covered, the only thing you pay is your deductible.Not having home insurance is simply irresponsible. It is necessary for legal reasons but also making sure that one of the largest investments you will ever make in your lifetime is protected. You never know what will go wrong. Coverage pays for everything from a burst pipe in your plumbing to a tree in your roof. It can also pay for necessary updates before an accident happens. You may also want to supplement your plan with separate coverage for flooding, which is usually not included in many plans.Health and life insurance is also important to have. Usually these are offered through your employer and the cost of these plans comes out of your paycheck. In case you get into an accident, these plans with help cover a significant portion of your medical bills and reimburses you for financial losses if youre out of work for a long time. In a fatal accident, a life plan will make sure your family is financially covered when they no longer will have your income to rely on. If you are not currently employed or work independently you are able to pay for coverage with an outside company.If you are concerned you are paying too much for insurance, know that this is a competitive market and there are a lot of companies vying for your business. You can secure a low rate that gives you the maximum benefits for car insurance, home insurance, and health insurance. Many companies offer programs where you can bundle a plan together and pay a lower premium in order to save you money and keep you covered in several areas of your life. Shop around. You dont have to pay too much money to get what you need.