Insurance is one of those expenses for which people tend to hate paying—until they actually need it. Most people don’t plan on getting into a car accident, having a branch fall through their home’s roof, or getting robbed. When you have sufficient insurance, these events can be minor inconveniences, but when you have a bad policy, you can set up your family for financial ruin. Don’t fall for the most common insurance mistakes that people make when you’re in the insurance office.

Getting Only Basic Insurance

Carrying the bare-minimum insurance isn’t enough. Sure, you can save a bit of money by getting the bare minimum required month to month, but chances are, you’ll need better insurance at some point. The types of insurance that everyone should carry to protect their families from financial disaster include: car insurance, health insurance, homeowner’s or renter’s insurance, disability insurance, and life insurance.

Not Getting the Right Amount of Insurance

Another of the most common insurance mistakes that people make is not getting the right amount of insurance coverage. This means either getting too much and paying for more than you need or not getting enough coverage. Because people’s lifestyles and financial positions are so different, two people can also have dramatically different insurance needs. For example, you don’t need $1,000,000 coverage on your house if it’s worth just $300,000. Likewise, you shouldn’t be driving around in an $80,000 car with bare-minimum legal coverage on it. You want to have enough insurance to cover your items but not so much that you’re wasting money on something you’ll never need to utilize. Usually, speaking to an insurance agent is best to get a clear picture of your assets and how you should protect them.

Choosing the Wrong Insurance

Another common mistake is getting the wrong types of insurance. There are so many different policies that can really work for you if you choose them smartly. However, not all policies will fit all people. You want to pick out insurance that makes sense for you to use. Understand the policies you choose and the coverage provided to make sure you actually need what you’re paying for.

Not Shopping Around

Finally, a lot of people make the mistake of not shopping around. Every few years, you should do the rounds and get some quotes for coverage. You may be able to save money by doing so. Look for discounts for bundled policies or workplace affiliations, and you can likely keep your rates lower than if you were to just stick with one policy long term.