The whole point of insurance is that it's there to protect you financially in your hour of need. But if you've been paying for inadequate cover, or been mis-sold a policy, then it's actually costing you financially instead.
Before buying insurance, you should always take the time to shop around for the best value and never feel pressured into signing up for something you don’t fully understand. If you’re taking out mortgage protection, remember that you don't have to take it out with the bank that you gave you your mortgage.
Always read the policy terms and conditions carefully so that you know what you’re covered for. It might not be the most exciting thing you’ll ever read but it’ll save you a lot of hassle (and potential heartbreak) if you ever need to make a claim.
Finally, when looking at health insurance, be aware of what the excess on your policy is. A higher excess will reduce your premium but means you’ll have to pay more yourself in the event of any claim.