When it comes to reducing debt, many people ignore the insurance line on their budget. They need insurance, so it becomes an untouchable expense with which they feel helplessly saddled. Look at your expenses towards insurance coverage, life insurance premium in your paycheck, auto insurance bills, home insurance receipts, etc. They add up to a huge number!

I am not asking for stopping your coverage. That’ll be suicide. Remember, I always say insurance is an important defense for your financial security. Insurance is required but, you can save money on your insurance coverage. You just need to know how. Here are three ways you can reduce your insurance debt with some simple financial “housekeeping.”

Insurance is the defense for your financial team (as an investment is an offense). When it comes to car insurance, you have a lot of choices and Car Liability Insurance Coverage is one of them. Since you have many choices, you should know as much as possible to decide on the coverage. You should know the facts and myths so that you can make informed decision

My coverage limits are absolutely minimum as per Florida state law. But, I am not asking you to go for the absolute minimum requirement, it must be driven by your absolute need. The amount of deductible you can afford, the amount of emergency cash you have saved, etc.

This guest post is for our international readers, especially readers from UK, Australia and Ireland. Enjoy this post on Income Protection Insurance!

Income Protection Insurance is an excellent way to ensure that you never lose out on the income you depend on, even if you become incapacitated and unable to work. IPI is not available in many parts of the world, so Australians should count themselves lucky that it is made available to them, for their own stability and peace of mind. If you are considering buying some Income Protection Insurance for the first time, or if you are unfamiliar with this type of insurance, here are three things to know.