Some types of insurance are required, such as your auto insurance and your homeowner’s insurance. Even without a lender’s requirement for home insurance or your state’s requirement for auto insurance, you may understand the true financial benefits associated with purchasing coverage and maintaining an active policy. Home, auto and health insurance are among the most common types of insurance that people purchase, and they are all designed to help you pay for unexpected expenses. In some cases, coverage can save you thousands of dollars or more. However, the cost of insurance premiums can be substantial, and you must pay your premium regardless of whether you actually use the insurance or not. These are some effective ways to save money on your premiums so that you can get the coverage that you need.