Insurance Services 3Insurance is protection against incidents and accidents. Insurance protects a person or entity from extreme financial loss or responsibility due to an unfortunate or unforeseen event.

Insurance comes in many forms and types such as liability, life, health, auto, property, and much more. Insurance protection is designed for everyone and is a true benefit in time of need. Property insurance, for example, is protection against damage to your home in the event of a flood, fire, or other natural disaster. Insurance also benefits professionals such as doctors and lawyers who purchase coverage to protect themselves against liabilities.

Who Needs Insurance and What Types are Available?

Many types of insurance are available for purchase. It’s true that some types of insurance are more than most people will ever need.

VIP Divorce Discovery provides skilled insurance experts who understand the best insurance coverage that our clients require. We offer the following types of insurance:

Home Insurance

Insurance Services 3Whether you own or rent, live in a two-story house, or high-rise condominium, your home and its contents are likely among your biggest investments. Insurance coverage provides a way to protect yourself from the unexpected.

When you buy a house, condominium, or manufactured home, your lender typically requires home property insurance to cover risk. Many property management companies and condo associations also require property and liability coverage. It makes sense to be wise and purchase adequate coverage for your home.

Property and liability insurance protects your home and personal property from loss. It includes medical payments coverage in case someone is injured on your property, which helps protect your assets if you are found liable.

Auto Insurance

Insurance Services 4Choosing the right auto insurance can be tough. Driving to and from places of employment or attending family events typically requires a mode of family transportation. Owning automobiles is quite necessary; however, driving can also be dangerous. You never know when an accident may occur where you will be at fault. For this reason, it’s very important to carry auto insurance.

VIP Divorce Discovery’s partners customize your insurance coverage depending on your needs. Auto insurance includes much more than just collisions; acts of nature may cause hail damage or a falling tree, which may damage an automobile. The result oftentimes is too much money out of pocket for repairs. Auto insurance, however, is always the best solution, even though the insured driver may incur a small deductible depending on the type of accident. Deductible costs are minimal compared to what it would cost to pay the entire repair bill if auto insurance were not available.

Life Insurance

If someone will suffer financially when you die, chances are you need life insurance. Life insurance provides cash to your family after your death. This cash, known as the death benefit, replaces your income and helps your family meet many important financial needs such as funeral costs, daily living expenses, mortgage payments, and college funding. And, an added benefit is that there is no federal income tax placed on life insurance benefits.

To help you understand how life insurance may apply to you, we’ve outlined these scenarios:

You are a single parent.

You are the caregiver, breadwinner, cook, chauffeur, and so much more.
Almost four in 10 single parents have no life insurance, and many with coverage say they need more than they have. With so much responsibility resting on your shoulders, you need to ensure that you have enough life insurance to safeguard your children’s financial future.

You are a stay-at-home parent.

Just because you do not earn a salary outside of the home does not mean that you don’t contribute financially to your family
Childcare, transportation, cleaning, cooking, and other household activities are all important tasks, the replacement value of which is often severely underestimated. In the case of your unforeseen death, with life insurance, your family can afford to make the choice that best preserves their quality of life.

You are retired.

Depending on the size of your estate, your heirs could face an estate tax payment of up to 45% after you die.

The proceeds of a life insurance policy are payable immediately, allowing heirs to address these taxes, pay funeral costs, and pay other debts without having to hastily liquidate other assets, often at a fraction of their true value. Life insurance proceeds are also generally income tax free and do not add to your estate tax liability, if properly structured.

Insurance Services 4While insurance is expensive and certainly takes a chunk out of your budget, being without it could lead to financial ruin. Always check with your employer first for available coverage, as this will probably be where you will find the most economical way to secure.

If your employer doesn’t offer life insurance, obtain multiple quotes from several insurance providers. Schedule times with agents who offer coverage in multiple areas as they may have discounts available if you purchase more than one type of coverage. The expense of not having insurance is nothing compared to the expense of living without it.


How VIP Divorce Discovery Can Help

VIP Divorce Discovery and its partners strive to provide outstanding service and superior coverage to every client. We help you identify your individual insurance needs to develop the most comprehensive, cost-effective solution. We listen carefully to your specific needs and requirements, and develop insurance solutions with a level of service and coverage you can’t find anywhere else.