Insurance Needs Calculator

At a minimum, most people need: health insurance (to avoid catastrophic medical bills), auto insurance (legally required in most states), and disability insurance (protects your income — your biggest asset). Life insurance is essential if anyone depends on your income. Homeowners or renters insurance protects your property and provides liability coverage.

Green means your coverage appears adequate for your situation. Orange means you may be under-insured and should review your coverage levels. Red means you have a significant gap that puts you at financial risk. These are estimates — consult a licensed insurance professional for personalised advice.

Over-insurance is less common but can happen — for example, keeping collision coverage on a very old low-value car where annual premiums approach the car's value. The rule of thumb: if your vehicle is worth less than 10x the annual collision premium, consider dropping it.

Priority order: 1) Health insurance (medical bankruptcy risk is highest), 2) Disability insurance (most likely catastrophic income event), 3) Auto insurance (legally required, liability exposure), 4) Life insurance (if dependents), 5) Home/renters insurance (property and liability protection).