Save Someone's Skin Meaning

(idiomatic, informal) To save someone's life.

Example: to prevent an undesirable occurrence
2010 December 29, Chris Whyatt, “Chelsea 1 - 0 Bolton”[1], BBC:
  Centre-back Branislav Ivanovic then took a wild slash at the ball but his captain John Terry saved Chelsea's skin by hacking the ball clear for a corner with Kevin Davies set to strike from just six yards out.