With the current economy its easy to start cutting corners as we all tighten our monthly budgets to make ends meet. With little relief in sight, its important that we save where we can without making any serious compromises. Insurance represents a significant portion of our monthly budgets and although its definitely an area for saving, its something you need to save on with great caution. Insurance gives you a safety net in different areas of your life and often times when you really need it you won’t have it and end up paying the price.

One of the problems with the current economic crises is that because insurers are also feeling the pinch, premiums are ballooning and many of us are struggling to keep up.

1. Home Insurance 
Insuring your home is not a luxury. Although contents insurance is something you can save on you should never let go of your home insurance. A fire or a natural disaster can destroy your home and potentially destroy your greatest asset. Can you imagine having a mortgage on a home you no longer have?

2. Medical Insurance 
Your health is the most important thing you have. Your health and that of your family should be your number one priority and if you want to save on health insurance try and make sure that you are always covered for serious illness as this can be huge cost in case it happens.

3. Income Protection 
In the current economy nobody is certain of their jobs. The job market has changed for good and the days of getting 1 job for life is over. You need to protect your income in case of losing your job or getting a serious injury that could prevent you from earning a living.