5 Kinds of Insurance You Need -- and 2 You Don't

Having the right insurance coverage can save you from financial disaster -- but insurance policies can also be expensive, so you don't want to buy policies you don't really need. Navigating the process of obtaining coverage is tricky, especially if you're faced with a hard sell for coverage that isn't actually necessary.

To obtain the right coverage without wasting your cash, it's important to know what policies actually protect you from a calamity -- and which ones won't. Here are five types of policies you definitely should buy, along with two you can almost always skip.

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Source: Fool.com