The Ins & Outs of Insurance

April 22, 2022

The Ins & Outs of Insurance:

Many individuals question and ponder about the necessity of insurance. Insurance policies are necessary in order to protect what matters most: Yourself, Family, and Assets. Insurance not only cover the unforeseen events but also the inevitable events. There are various types of insurance catered to protecting different assets, including but not limited to, Home, Auto, Life, & Health. Rest assure, all of these are important items to have for each household type. Keep reading to find out why!

Home & Rental Insurance

Home & Rental Insurance protect the roof over your head from circumstances that are out of our control. For those who reside in Southern part of the United States, you could be affected by natural disasters such as Hurricanes, Tornadoes, Flood and Sinkholes. If you reside in the Western parts of the US, you may be affected by Earthquakes along with some natural disasters mentioned prior. And if you reside in the Norther parts of the US, you may face Snowstorms. 

Make sure that you ask your local insurance agent if your residences are located in a natural disaster zone when getting an insurance quote. Let's face it! We don't have a crystal ball and we can't see the future. By obtaining an insurance policy, you save yourself tons of money in the event that a natural disaster happens. Insurance allows the policy holder to cover some, if all, the damages, pay for temporary housing, and replace items that may have been damaged or lost. 

Life Insurance

Life Insurance covers the inevitable and protects your family from financial stress. A life insurance policy can cover debt and household expenses for your family as well as pay for funeral costs in the event of death. 

Many believe that life insurance can only be beneficial after death but did you know that a Life Insurance policy can be seen as a financial asset? Depending on the policy type, an individual may borrow from the cash value of the policy or transfer the value to other investment entities in order to cover long term care, medical expenses, or even retirement funds. By obtaining a life insurance policy, you can create generation wealth to pass down to your loved ones and future children.

Auto Insurance

Auto Insurance protects you, your vehicle, and other involved from the unforeseen accidents that may take place on the road. Some coverages to consider are liability, collision, and comprehensive coverage.

Liability Coverage pays for any damages towards property or another person of an accident where you may be at fault. This coverage is usually required by most states; nevertheless, is important to ensure you have a high enough deductible to cover any damages that may take place.

Collision Coverage pays to repair or replace your vehicle in the event that a collision occurs. The coverage protects the policy holder from costly fees that may take a toll on your savings account.

Comprehensive Coverage protects the policy holder by assisting with fees associated with replacing or repairing your vehicle by theft or damages that are not considered collisions.

Make sure to ask your local insurance agent about the benefits of other additional coverages when getting an insurance quote.

Health Insurance

Health or Medical Insurance protects the policy holder by payment or reimbursement for healthcare cost for you or your family. Without this coverage, regular health checkups become expensive and unforeseen medical problems may add more financial stress onto you and your family. If medical insurance is not a benefit provided by your employer, there are government entities that can assist and/or provide affordable medical coverage.  Visit to explore your options today!

Brought to you by:

Mu Upsilon Omega Chapter
Target III Committee
Telisha Martin, Chair
Shelby Lucas, Co-Chair
Judith Alford-Lightsey
Mechelle Caldwell
Cynthia Cooper
Sandra Cummings
Dale George-Harris
Debbra Livingston
Dorothy McKinzie
Faye McKnight
Sarah Richardson

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