But the reality is that having no insurance is a fool's folly.

I've seen too many people lose everything they own or lose a loved one. And these things are never expected and they usually happen fast, so you need to be prepared. And knowing that you're financially covered no matter what happens, can give you unbelievable peace-of-mind.

So start insuring yourself against disaster straight away.

You can begin by opening a savings account and using it to save up a year's salary. That way, if you lose your job, or become too ill to work, you can still pay your bills band be able to eat for the next 12 months.

Having enough money to live on for a year can give you phenomenal confidence and lower you stress levels at work if you know that you and your family are financially secure for the next year if you lost your job or your company went bust. This is a form of health insurance.

Next you need to look at whether or not you have adequate insurance for your home and your belongings. The most expensive insurance is for single items that are so expensive to replace that they need a separate insurance policy of their own.

So if you own things such as expensive jewellery, artwork, bikes or expensive ornaments, make sure they are covered by your main policy or consider selling them if they are going to be too costly to keep.

Use deadbolts on your doors, install a fire extinguisher at home and get your house alarmed. These things can greatly reduce your insurance premiums.

When choosing a policy, look at the possibility of raising your excess (which is the amount of money you must pay yourself towards a claim) as this can significantly reduce your yearly payments.

And shop around before choosing a policy and make sure it covers everything you own.

Talk to other people and see what company they use and whether or not they're satisfied with it.

Go online and look up insurance company web sites. Some will have online quotes that you can fill out to see how much you'd have to pay. You can play around with these types of forms to see what you can be covered for and how much different things affect the price you pay.

And remember that what you fill out about your circumstances really matters.

For instance, say you tell them that when at home your car is always parked in your garage. Then one day you park your car on your driveway and someone steals. The insurance company will then not pay your claim because your car will only be covered by your insurance policy if it is parked in your garage when at home.

And make sure you know your home's worth and how much it will cost to rebuild it, which is usually less than you originally paid for the house and land combined.

You can also save money by using the same company to insure both your house and your contents together.

But no matter which company you use, just make sure you are adequately covered financially for any disaster that may happen.

And what about insuring you and your spouse? How would the rest of your family cope financially without one of you?

You and your family need adequate insurance. And the time to act is now.