Insurance is a necessity. No doubt about that. But practical insurance does not mean that you need to or should insure every item in your home, or purchase insurance plans that are not relevant to you. You need to find insurance plans that work for you, your budget, your line of work. Here is a quick guide to help you figure out what insurance items are necessary, practical, or not needed. For Everyone 1. The first thing to note is that some insurance plans are necessary or,