Insurance is an essential part of financial planning. It providing peace of mind and protection against life’s unforeseen events. However, the cost of insurance can strain your budget. Along with everything else, inflation is causing insurance rates to rise. The good news is that you can save on insurance without compromising the quality of your coverage. Here are some tips to help you save:

1. Match your coverages to your specific needs. Insurance is not one size fits all. Have your agent explain each and every coverage that you are paying for. Use this information to help determine if your coverage fits your circumstances.