Almost any risk can be covered by insurance, but only a few coverages are good values. Always weigh the potential financial risk with the cost of the premium to insure that risk. For example, if raising a deductible on an automobile collision policy from $500 to $1000 cut the premium by $200 annually, you would save $200 every year by accepting $300 more net risk ($500 minus the $200 yearly premium) -- not a bad risk to take. If you go two years without a collision claim, you are ahead of the game. In this example, paying $200 annually in order to insure $300 (net), is not a cost-effective use of your premium dollar after the second year.
For information on the importance of life insurance, and how to choose what's right for you, click the following link. The Case for Life Insurance