Auto insurance protects you against financial loss if you have an accident. It is a contract between you and the insurance company. Insureds agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy.
Auto insurance can provide bodily injury, collision, comprehensive, property damage, personal injury protection, uninsured motorist, underinsured motorist, roadside assistance, and loss of use coverage.
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Homeowners, renters, and condo policies cover a variety of events and serve as an invaluable financial safeguard against many disasters.
The HO-3 policy is the most common type of home insurance form on the market. What separates an HO-3 from policies with more limited coverage is that your dwelling is covered against all perils, unless they are specifically listed as exclusions. This type of coverage is referred to as open perils coverage, with a peril defined as any risk or cause of loss to your home. Damage to your personal property, on the other hand, is only covered on a named perils basis with an HO-3. This means that the cause of damage has to be explicitly stated in the HO-3 form to ensure coverage by your insurer.
HO-3 policies will have pre-determined limits in (6) standard areas
Dwelling – Coverage A
Other structures – Coverage B
Personal property – Coverage C
Loss of use – Coverage D
Personal liability – Coverage E
Medical Payments to others – Coverage F
HO-3 insurance policy exclusions may vary from insurer to insurer, but a certain set of perils is almost always omitted from standard HO-3 special forms. The most notable of these are flood and earthquake damage, but exclusions can go beyond these dangers. Homeowners should always read their HO-3 form to understand which events aren’t covered. Voluntary added coverages may be offered for:
- Water or sewer backup
- Flood insurance
- Earthquake insurance
An HO-5 policy is the broadest type of homeowners insurance policy, offering more generous coverage than even an HO-3. One of the key distinguishing features of an HO-5 policy versus an HO-3 is that open perils coverage is extended to personal property, providing you with extensive protection for both your belongings and your dwelling.
HO-4 policies provide coverage for renters. A HO-4 policy protects tenants from the costs of unexpected personal property damage, theft and legal liability. This coverage can be bought by anyone renting an apartment, condo, home or other living space. Although the coverage is similar to homeowners insurance, key differences include:
- Renters insurance does not cover the structure, or dwelling, where the tenant lives
- Damage to the building is the landlord’s responsibility and would likely be covered through a landlord insurance plan.
HO-6 policies are for condo owners. HO-6 coverage reflects the fact that condo owners do not always bear responsibility for the cost of unexpected damages to communal areas of their building or to their built-in property, such as fixtures or appliances, within the condo.
Boat / Motorcycle / RV
Sailboats, Fishing Boats, Powerboats, Personal Watercraft and Yachts all require their own insurance and give you the freedom to travel wherever you’d like on any lake or river in the U.S., plus ocean waters within 75 miles of the coast.
The risks posed by motorcycles are similar but different than the risks posed by automobiles. From bodily injury and property damage to theft and emergency expenses, motorcycle insurance offers options including but not limited to:
- Bodily injury to someone else or damage to someone else’s property for which you are legally responsible while riding your motorcycle
- Bodily injury to yourself because of an accident with an uninsured motorist
- Damage to your motorcycle caused by an accident
- Theft, fire, vandalism, and other losses — even while your motorcycle is in storage for the winter
- Attached side cars
- Emergency roadside expenses
- Damage to protective gear
- Trip interruption expenses
RV / Camper / 5th Wheel / Travel Trailers
Part home and part automobile, a RV is a different kind of beast that requires specialized coverage. Depending on the capabilities of the asset, coverages may include all components of coverage of an auto policy as well as personal property and general liability coverage.
Umbrella insurance is a type of personal liability insurance that may cover claims in excess of regular homeowners, auto, or watercraft policy coverage. Umbrella insurance coverage covers injury to others or damage to their possessions; it doesn’t protect the policyholder’s property. Umbrella insurance may even cover certain liability claims those policies may not, such as libel, slander, and false imprisonment. Umbrella insurance may cover not just the policyholder, but also other members of their family or household.
Insureds may hear individuals should purchase umbrella insurance if the total value of your assets, including ordinary checking and savings accounts, retirement and college savings and investment accounts, and home equity is greater than the limits of your auto or homeowner’s liability. The idea behind this advice is that you want to have enough liability insurance to fully cover your assets so you can’t lose them in a lawsuit.
Life insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person. Depending on the contract, other events such as terminal illness or critical illness can also trigger payment.
There are many different types of life insurance, each have their own benefits and drawbacks.
- Term life insurance
- Whole life insurance
- Universal life insurance
- Variable life insurance
- Indexed universal life insurance
- Simplified issue life insurance
- Guaranteed issue life insurance
To maximize your premium dollar investment work with a TSIG licensed health and life insurance agent to make the right decisions for you and your personal legacy goals as your beneficiary profile evolves.
Supplemental insurance is additional coverage that you can use to help with the out-of-pocket expenses that may not be covered by your major medical insurance. Supplemental insurance is optional, as it’s additive to your current coverage. Major medical covers an average of 60% of total medical costs, and supplemental insurance helps cover the remaining 40% of any medical bill.
Accident insurance policies help provide support when life’s most unexpected moments arrive. Supplemental accident insurance is meant to be purchased in addition to your primary policy. It helps pay the bills that your major medical insurance doesn’t completely cover. Depending on the options elected accident insurance may help pay for:
- Ambulance Rates
- Urgent Care Visits
- Doctor Visits
- Intensive Care Costs
- Major Diagnostic Test and Exam Fees
- Therapy Charges
- Rehabilitation Costs
- Family Support Benefits
Cancer Insurance policies can help cover many different treatment plans. Each cancer insurance option offers cash benefits that can be used however you decide. This means you can put cash toward rent, groceries or a detailed treatment plan. A few common medical procedures or treatments that Aflac can help cover are:
- Cancer Screenings
- Radiation Therapy, Chemotherapy, Immunotherapy or Experimental Chemotherapy
- Hormonal Therapy
- Stem Cell and Bone Marrow Transplantation
- Blood and Plasma
Critical Illness Insurance is for those who experience a life-changing event, like a heart attack or stroke. It offers lump-sum cash benefits that can be used however you decide – from helping with everyday bills to surgery. These plans may help provide coverage for diseases that aren’t covered by our cancer/specified disease insurance policies.
Hospital indemnity insurance is a great option to combine with other existing insurance plans. Supplemental hospital insurance can help cover expenses that take place in the emergency room, like ambulance costs, x-rays and blood tests, to name a few. Talk to your TSIG agent and seeing if hospital indemnity insurance coverage is an option.
Most health insurance plans cover care within the United States and its territories. For international travel, there are affordable options for accident and catastrophic care needs that arise when traveling. Talk to your TSIG insurance agent to discuss benefits and options for medical care while traveling outside the United States.
Dental and Vision
TSIG provides access to three top dental carriers in Michigan. Delta Dental, Blue Cross Blue Shield Dental, and Humana Dental are accessible to our group benefit clients, Medicare clients, and individual marketplace clients.
TSIG provides access to VSP, the largest vision carrier in the USA. With a VSP Vision Plan insureds can access coverage and partial reimbursement for:
- Exam Services
- Prescription Lenses
- Lens Enhancements
- Extra Glasses
- Elective Contact Lenses
- Essential Medical EyeCare
- Discounts on VSP Laser Partner Procedures
Under 65 Individual Health
The Patient Protection and Affordable Care Act (ACA) provides numerous rights and protections that make health coverage more fair and easy to understand, along with subsidies (through “premium tax credits” and “cost-sharing reductions”) to make it more affordable. TSIG has a custom Health Sherpa portal to the Health Insurance Marketplace (link below) that allows TSIG clients to access all plans offered in their zipcode and identify how much of a premium subsidy they will receive through the ACA for the upcoming year.
During the Open Enrollment Period (OEP) period that begins November 1, insureds can re-affirm their current coverage or switch to new coverage effective January 1 of the following year. A Special Enrollment Period (SEP) is a time outside the yearly Open Enrollment Period when you can sign up for health insurance. You qualify for a Special Enrollment Period if you’ve had certain life events, including losing health coverage, moving, getting married, having a baby, or adopting a child, or if your household income is below a certain amount. Depending on your Special Enrollment Period type, you may have 60 days before or 60 days following the event to enroll in a plan. You can enroll in Medicaid or the Children’s Health Insurance Program (CHIP) any time. Job-based plans must provide a Special Enrollment Period of at least 30 days.
Medicare is the government subsidized health insurance program for people aged sixty-five or older, some disabled people under age 65, and people of all ages with End-Stage Renal Disease. Let us help YOU to discover the most suitable Medicare programs available.