Things your Insurance Agent should discuss with you.

What are your current exposed assets?

Even though Michigan is a no-fault state, we can still be sued as the result of a car accident. Reasons can include things such as Wrongful Death, Bodily Disfigurement, Loss of Bodily Function and Loss of Wages. And what’s at risk are your assets and your income (up to 30%). Not having proper liability coverage in respect to your assets and income on your auto insurance could leave you wiped out financially for years to come.

Do you have health insurance that covers you in a car accident?

Your Personal Injury Protection provides for unlimited medical benefits in the state of Michigan for injuries resulting from a car accident. With that, most health insurers include exclusions for such injuries. Having the correct medical coverage on your auto insurance will save you and your family major headaches and confusion with getting medical bills paid should you be injured in an accident, and assure that you get the correct treatment when you need it.

Are there any other drivers in your household?

Having undisclosed and uninsured drivers in your household could leave you exposed and give your insurance company grounds to deny a claim should the undisclosed driver have an accident in your vehicle. With liability settlements averaging $306,000 in the U.S., you don’t want to leave yourself exposed to foot the bill. Be sure you are with an advisor who will put you in the best situation possible and make sure that if you have a claim, you get paid.

Are the standard Survivor Benefits sufficient for your needs?

Most auto insurance policies come with additional Survivor Benefits that pay out if you were to die in a car accident. Most of the time, the base amount isn’t nearly sufficient to pay for funeral services. Addtional coverage is available at a low cost. Having an advisor that puts your family’s concerns first can ease the burden of final expense costs. If such a tragic event did occur, the last thing a family needs is to worry about how to pay bills.

Is there anything you’d like to make sure we cover today?

An advisor who puts your needs first is an invaluable asset to your financial team. A strong indicator of whose interests are primary in your relationship is whether or not your advisor takes the time to ask if there’s anything you’d like to cover during your conversation. Is your advisor serving your needs and making sure you have real protection? Or are they just pushing your policy through?