Insurance is about managing risk. Insurance companies use sophisticated algorithms to determine how risky each of us is, and they price policies accordingly. That’s why smokers pay more for health insurance and bad drivers pay more for car insurance. Still, insurance can be confusing and aggressive sales agents only make the problem worse. To help clear things up, personal finance expert Lauren Lyons Cole debunks some of the most pervasive myths about different types of insurance. She guides you through auto insurance, renter's insurance, homeowner's insurance and life insurance to tease out what is essential and what's a racket -- all with an eye on being prudent and economical.