Coverages most people dont know they need (until its too late)

Insurance adjuster for 15 years here (recently retired). These are the coverages people skip to save money and then regret it:

1. Uninsured/Underinsured Motorist - so many drivers have no insurance. This protects you. Usually under $20/month.
2. Water backup/sump pump coverage - standard homeowners doesnt cover sewer backup. Its a cheap add-on.
3. Replacement cost vs ACV on contents - ACV depreciates your stuff. That 5 year old couch worth $200 on ACV might cost $800 to replace.
4. Scheduled personal property - your homeowners has sub-limits on jewelry, electronics, etc. Schedule valuable items separately.
5. Umbrella policy - $1M in extra liability coverage for like $200-300/year. If someone gets hurt on your property, this could save you from bankruptcy.

Read your policy. Actually read it. Most people have no idea what they have until they need it.