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Total Insurance
Cost Calculator
See all your insurance costs in one place. Understand if you're spending the right amount across all coverage types.
Most financial planners recommend spending 10-15% of your income on insurance. But the mix matters as much as the total. This calculator shows where your insurance dollars are going and whether the allocation makes sense.
📋 Your Annual Insurance Premiums
Total Annual Insurance Spend
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% of Income
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Target: 10-15%
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Insurance Spend Breakdown
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Optimize your insurance spend
Compare quotes to make sure you're getting the best price for every policy. Most people save 15-30% by shopping their insurance annually.
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Frequently Asked Questions
How much of my income should I spend on insurance? ▾
Most financial planners recommend 10-15% of gross income on insurance, but the right number depends on your situation. This includes health insurance premiums (employer and employee portions), auto, homeowners/renters, life, and disability. If you're young and healthy with minimal obligations, 8-10% may be appropriate. Families with dependents, mortgages, and significant assets may need 12-18%. The key is having the right coverage, not a specific percentage.
What's the most important insurance to have? ▾
In roughly priority order for most people: (1) Health insurance — one hospitalization can be financially catastrophic; (2) Disability insurance — most likely financial risk for working-age adults; (3) Auto insurance — legally required and high-risk exposure; (4) Life insurance — critical if others depend on your income; (5) Homeowners/renters — protects your property and liability; (6) Long-term care — important from age 50+.
When should I get an umbrella insurance policy? ▾
An umbrella policy provides $1-5M in extra liability protection above your home and auto policies, typically for $150-300/year. Consider it if: your net worth exceeds $300k-$500k (you have more assets to protect from lawsuits), you have a swimming pool or trampoline, you have teenage drivers, you own rental property, or you have a high public profile. It's one of the best-value insurance products available.