When creating a comprehensive financial plan, many customers overlook the importance of insurance coverage. Insurance is fallback protection, a safety net against the unexpected costs of accidents, illness, disability or disaster.
Miller Kaplan guides clients in obtaining the ideal, comprehensive insurance coverage they need. These are the contingencies and considerations we evaluate with our clients to determine the best, economical insurance plan for their situation.
What Types of Insurance Coverage Are Available?
Depending on a client’s needs, they may require any one of:
- Health Insurance
- Automobile Insurance
- Disability Insurance
- Life Insurance
- Homeowner’s Insurance
- Renter’s Insurance
- Disaster Insurance
Health insurance and automobile insurance are well-known standards, but the other coverages can be critical, too. If you’re renting an apartment or home, chances are the landlord has the building insured, which doesn’t cover belongings or liability to accidents occurred in the home. Owning a home is a monumental investment and a large chunk of collateral; homeowner’s insurance ensures coverage from liability claims, damage to the property, and recouping stolen or destroyed belongings. Even geographic location factors into insurance coverage: living in areas prone to natural disasters (i.e. tsunamis, earthquakes) may require disaster insurance.
Unique Insurance Coverage Plans.
Entertainers, artists, athletes, and similar high net worth individuals may need additional insurance thanks to the unique lifestyles they lead.
These specific, niche insurance coverages provide an extra layer of protection on different assets:
- Non-appearance Insurance
- Travel Insurance
- Short-Term Rental Insurance
- Wardrobe Insurance
- Excess Liability
- Umbrella Insurance
- Specific Insurances for Body Parts/Voice
Umbrella insurance and non-appearance insurance isn’t top of mind when considering insurance in your financial plan, which is where Miller Kaplan provides value. Through our evaluation of a client’s current insurance package, we discover areas that may need to be insured that have been understandably overlooked.
Not only is the awareness of the types of insurance coverage a client requires overwhelming, keeping track of the insurance can be equally challenging. Miller Kaplan does the work for clients, maintaining an open line of communication with the insurance broker to certify new assets, travel, and events are covered.
Miller Kaplan deals directly with insurance brokers to obtain and compare quotes, assisting our clients in deciding what coverage is best for them, at the most competitive rates.
Unsure of what type of insurance coverage you need? Whether you’re looking for advice on the types of insurance coverage that’s best for you, or need an evaluation of your current insurance package, Miller Kaplan provides business management solutions for clients.
We highly recommend you confer with your Miller Kaplan advisor to understand your specific situation and how this impacts you.