Insurance is part of milestone planning because it limits financial damage from accidents and unexpected loss. Auto and home insurance protect different risks and come with trade-offs: higher deductibles lower premiums but increase out-of-pocket when claims happen; lower deductibles raise premiums but reduce the hit if a loss occurs. Understanding what basic coverage types do (liability, collision, comprehensive for auto; property and liability for home) helps you pick the right balance between monthly cost and protection level. While specific policy details vary, a conceptual understanding helps when you compare quotes or include insurance in milestone budgets.