Insurance is a complicated beast.
With approximately 459239 varieties, it's tricky to know exactly what's going to save you in the long run, and what is going to cost you big time.
Luckily for us though, this week, on Mamamia's money podcast, What the Finance, financial expert Melissa Browne takes us through exactly how and where you can be saving on insurance policies.
Watch: 5 money lessons your parents told you, that you should probably forget... Post continues below.
From home and contents to health insurance, here were the three key takeaways from this episode.
1. Get familiar with your current cover.
"Insurance is something where you want to read the fine print," Mel says.
"You want to potentially speak to an insurance broker, who is an expert in finding the right policy for you."
Life insurance is typically included in your superannuation if you are over the age of 25, and you can check this through your super fund.
"You might just check your super fund has life insurance and that it's at a level that you're comfortable with. If it's not, you might increase the cover."
Once you have your life insurance sorted, Mel suggests considering the other options available.
"There's car insurance, home and content insurance, business insurance, trauma, TPD, pet... There're so many insurance options, so it's really about picking and choosing the ones that are right for you."
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2. Delay your income protection insurance cover.
Melissa suggests that income protection insurance can be a useful cover to have, particularly if you are a contract or freelance worker.
But, there are strategies that will reduce its cost while still keeping you safe.
"If you have some sort of debt, asking the question: 'How am I going to pay for that if I was to lose that job or income?' is really important," Mel says.