Welcome to the multi-award-winning Money Distilled newsletter. I’m John Stepek. Every week day I look at the biggest stories in markets and economics, and explain what it all means for your money.

Rather than spend the last newsletter of the week panicking over the exact details of the latest bit of income tax kite flying from UK Chancellor of the Exchequer Rachel Reeves, I thought we would raise our heads from the spectre of the never-ending budget, and instead take a look at the idea of insurance.