A lot of financial preparations center not only on accumulating your wealth, but on making sure that you protect it from risk. That is the essence of insurance, that you can proactively manage risks. Yet, many people assume they are covered, failing to understand the basics of insurance policies or the variety of options available to them. From auto insurance to homeowners’ insurance to supplemental insurance, it’s important to understand what insurance is and how it works in order to answer the question: Are you really covered?