Certain insurance types are required by law like being insured in order to drive a car or employ somebody for example. On the other hand there are the insurances that your individual needs dictate like your own vehicle protection, health and property either house or business or because the financial institution requires insurance for your mortgaged property. Needs are certainly different to each individual so there is no magic formula that will assist you in organizing an insurance plan for you and your family on your own. What you need to do is to carefully think of the things you wish to protect and set your priorities according to your financial situation.