From Here to Financial Happiness

Day Thirty Two Just in Case

Here's a horrifying thought: You could potentially need up to eight different types of insurance. Here are the eight policies:

• Life
• Disability
• Health
• Long‐term care
• Auto
• Homeowner's
• Renter's
• Umbrella liability

Sound like a family budget buster? The good news is, very few people will need all eight policies – and there are ways to trim the cost of the insurance you do need. For instance, if you own a home, you should have homeowner's insurance and, indeed, your mortgage company will require it. But you might get a policy with, say, a $5,000 deductible. True, that means the first $5,000 of loss will come out of your pocket and you need to be prepared for ...