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Paring down your list of monthly bills may be on your to-do list. With so many bills and costs for items that are a need, it can be difficult to figure out what in the budget can be cut. If you are looking into financial responsibilities that can be lowered or cut out completely, you should first take a look at your insurance. Here are some insurance types that you need and three that you may be able to get rid of and save your cash.

Can skip: Children’s life insurance

If you have children, you may be concerned about them and their wellbeing. Some parents will choose to get life insurance for their children, but the truth is that these policies are rarely used. Life insurance is most often used as a payment to supplement income when a dependable income earner dies. Since parents do not depend on their children for income, life insurance for children is not a necessity. Instead, be sure that the have excellent health coverage and contribute money to their savings and college funds each month.

Can’t miss: Homeowner’s and renter’s insurance

Although renter’s insurance and homeowner’s insurance is easy to miss, it is one type of insurance that you can’t live without. If anything, such as a break in, natural disaster, or other issue happens to your home, you will need to have the insurance to help recoup the cost to replace your items and rebuild your home. Homeowner’s and renter’s is also very affordable, making it easier to add to the budget monthly.

Can skip: Insurance through rental companies

If you travel a lot, you may find yourself in need of rental cars at times. At the counter, the rental agent will offer you rental car insurance coverage through the company. Many people take the insurance, however, in most cases, you will not need it. Beef up your own auto insurance coverage to make sure it covers any rental cars that you may drive. If you have a credit card, most will offer collision coverage for rental cars without any extra fee. A quick call to your auto insurer and your credit card company will offer you the coverage that you need.

Can’t miss: Health coverage

A large number of people who file for bankruptcy every year file due to overwhelming medical debt. This is something that can be avoidable with excellent health care coverage. Whether you are a single person, a DINK couple, or a large family, get the most comprehensive healthcare that you can afford. Find healthcare coverage that offers regular checkups, visits to specialists, and even dental coverage. Each of these three areas is vital for the health and wealth of your family.

Can skip: Accidental death insurance

It is both admirable and necessary to want to make sure that your family is taken care of if you are taken away from them too soon. Some will cling to accidental death insurance as a payout for their family if something unexpected happens. Accidental death policies are not necessary as they are notorious for being difficult to cash out and recover. In the event that you do not die by accident, this money would also have been better put to use towards debt or savings.

Can’t miss: Life insurance for adults

All adults will need to have life insurance of some kind. If you are a single person, life insurance will give your family and friends a way to bury you and take care of your family financial affairs. If you have a family that depends on your income, you will need to keep enough life insurance for your family to be comfortable when you are gone. A life insurance professional can help you pick out an adequate policy that will cover anything you may be concerned about at you end.

Letting go of the coverage that is unnecessary will improve your life in several ways. Dropping unnecessary insurance will keep more money in your pocket for wants, which will improve your quality of life. One of the biggest ways that you will benefit from dropping the “can skip’s” is that you have more money to go towards savings and beefing up the necessary insurance payments for life.