The promise that something will be paid in case of loss. Used to cover important items and reduce personal risk. This tag covers how to get it, how to keep it, what kind, and why you should have it.

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What is the most honest explanation of aquisition fee in unit link?

When people combine insurance and investment, they are buying products called unit link. Usually, 100% of premi is gone for acquisition fee. Different insurance agent do it differently. The worse of ...
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1answer
27 views

Auto liability insurance and underinsured policy

I live in MA. Recently I was in an accident where the over driver was at-fault 100% and is not contesting this. I was moderately injured and had several dr appoints and tests for broken ribs and being ...
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1answer
56 views

What is the difference between Uninsured Peril and Excluded Peril

I was reading up on past Charted Institute Insurance (CII) Exam papers and I came across the following question 1) Insured Perils 2) Uninsured Perils 3) Excluded Perils In my opinion, ...
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1answer
80 views

Condo hazard insurance — who takes the next step? Everyone else is refusing

I live in California. The bank (in Atlanta) who has our home loan needs to see proof of our condo master hazard insurance policy or they will buy us a policy. The agent who sold the policy told me ...
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1answer
52 views

Query about Personal Accident cover

I work in a MNC in India. I have a query about Personal Accident cover. I read in a ET article as 'cheap and essential'. When I asked around about this with few individuals, they advised to buy ...
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3answers
890 views

Explain me the benefit of insurance policy

I have taken a life insurance policy from ICICI called "ICICI Pru Saving Suraksha LP". The details of my policy is given below. Term: 15 years Premium Amount: Rs 50,000.00 Sum Assured: Rs 500,000.00 ...
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0answers
11 views

Insurance broker - Online vs. physical location?

I have had my home & auto insurance with USAA for a couple of years now, and have never filed a claim. I have heard people recommend finding a broker with physical presence, to deal with ...
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1answer
107 views

How do I minimize my risk when loaning someone my car?

My wife and I recently had a third child, so we bought a minivan to replace her compact car. Since the car is over 10 years old with almost 150K miles, we know it won't bring us much money, so there ...
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3answers
421 views

Do laddered term life-insurance strategies give significant savings over getting re-rated with shorter term policies?

I have been reevaluating my life-insurance strategy and having remembered an article about using laddered term life insurance to give you a higher amount of coverage in the short term with reducing ...
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8answers
4k views

Why do people take out life insurance on their children? Should I take out a policy on my child?

I've always found those flyers that the schools send home in September contemptible. But maybe I'm the one in the dark...? If the purpose of life insurance is to replace a wage-earner's income in ...
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2answers
92 views

Deposited a 1m Life Ins. benefit check to WF. Do you foresee any issue dividing it up in 1/4?

Deposited a 1m Life Ins. benefit check to Wells Fargo. Do you foresee any issue dividing it up in 1/4 by opening three other accounts and either writing a check or wire to move? Concerned with any ...
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4answers
166 views

How to take a home inventory?

An answer to the question Spring cleaning for your finances? Is there any activity that should be done annually, with respect to your money? mentioned home inventory: The Inventory is also very ...
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3answers
255 views

Why can you not have more than one car or homeowners insurance policy?

It is not only possible, but often encouraged to have more than one life insurance policy (for example, the first term policy you have, plus a new one as your financial needs have changed, plus one at ...
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1answer
139 views

Buying a home, it appraised higher than the purchase price, does this affect mortgage insurance?

I'm kind of curious, does the fact that my home appraised higher affect mortgage insurance payment at all? It appraised for about 2% higher than I'm paying for it, and it'd be nice to remove a year of ...
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2answers
41 views

Can you get umbrella insurance from a different company from where you get your basic home/auto insurance?

I presently have auto and house insurance with a single company (call it company X). They have a local agent and the cost and responsiveness is quite nice, so I'd rather not leave them. However, the ...
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1answer
278 views

What is Loss Assessment Coverage?

I am buying a condo and looking for condo unitowners insurance (HO6 policy). What is Loss Assessment coverage? Can I use it to pay any special assessments imposed by HOA e.g., when they have to do ...
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1answer
123 views

Is robinhood backed up by an insurance company

Robinhood is a mobile broker that charges $0 commission, but because it's unclear how their business model makes money, I have read a lot of skeptical threads about it.... My question is that is this ...
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1answer
270 views

How does a tuition insurance payment affect 529 withdrawals?

Qualified college tuition and expenses were paid from a 529 plan in 2014. The school sent a 1098-T and the 529 plan sent a 1099-Q and everything was fine on my 2014 taxes. In 2015 my child has left ...
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2answers
67 views

Do I need Personal Injury Protection if we have great health insurance?

We don't have any maxes on our insurance and our deductibles are not too bad so it seems like carrying personal injury protection on our car insurance is a waste. I want to lower it to the min 20/40k ...
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1answer
30 views

Child Insurance Policy-if proposer is missing

I have taken an insurance policy for my son, which is having premium waiver rider in case of my death or disability...Just wants to know what will happen..if I along with my husband gets missing..
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2answers
306 views

What happens if a person with life insurance goes missing and is found many years later?

Suppose a person has life insurance and goes missing while the policy is valid. His body is not found, noone saw anything which would be an evidence of the person death. Suppose going missing is not ...
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1answer
36 views

Contribution Principle for Insurance

I was reading up on Contribution Principle of Insurance when I came across the following example used to explain the concept In the homeowner example, if the owner bought two $250,000 policies on ...
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1answer
151 views

Do you need to have insurance on an unused car?

I'm buying a car and garaging it until I can fix it. Do I need to have insurance on it to be able to register it (so I won't get fined for not registering it) or can I just register it like that since ...
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3answers
41k views

What is the difference between pre-tax and post-tax paycheck deductions?

I am getting insurance for about 4 months, the length of my contract with a company. I am given the option of having the cost deducted from my paycheck pre-tax or post-tax. What is the difference? ...
7
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1answer
152 views

At what damage amount should I pursue a homeowner's insurance claim?

We have a recently built house (2008). This past year, a roof leak materialized. I am out of pocket $3250 for several contractor visits that tore out interior drywall, recaulked flashing and siding, ...
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6answers
1k views

I am thinking about cancelling my car insurance. Will there be any hidden costs down the road?

I own my car outright and just moved to a large city. Public transportation and access to a roommate's car makes transportation easy. I am thinking about storing my car at my parents house and ...
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1answer
87 views

Insurance coverage for a difficult to find vehicle

How will a claim and potential lawsuit go for a vehicle which is only booked on Nada at $17k high retail, but would cost $25k - $35k or more to find a replacement in average condition/poor condition? ...
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2answers
69 views

minimize personal property coverage on homeowners insurance

This month, my homeowners insurance is due for renewal. I noticed that the personal property coverage is beyond $100k, which exceeds my needs by at least two orders of magnitude. Honestly, my personal ...
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0answers
38 views

Actual Cash Value (ACV) of a remodeled mobile home

I have an investment mobile home manufactured in 1972. Last month a contractor was removing trees and landed a big one on my mobile home, cutting it in half and totaling it. My question is regarding ...
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0answers
40 views

Need a higher car insurance premium as a dependant?

I'm looking to purchase a new car; my current car is 15 years old and has a lot of miles on it. I started a new job that is much further away from home and I need something more reliable. Anyway, I ...
9
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4answers
447 views

What's the reason I can't have insurance with more than one company?

Excuse my pure ignorance on this matter, I barely understand the basics of any insurance. When I first moved to the UK years ago I have been told that I can't have life, health, car, contents ...
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2answers
222 views

Should I Purchase Health Insurance Through My S-Corp

I currently have an S-Corp, of which I am the only employee. As of this year, I started purchasing my own health insurance through healthcare.gov. In previous years, my wife and I were insured ...
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1answer
71 views

Is it safe to have pension plans with an insurance company with a strong brand but not-that-good credit rating?

I am looking for a pension plan and as part of my investigation, I am checking the credit ratings of the company(eg Moodys). What I am seeing is that the company is having a Baa2 rating. Though the ...
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3answers
72 views

Which types of insurances do I need to buy?

I work in a MNC in India and can save up to Rs.10000 per month. My parents and sister are dependent on me. I like to use this 'extra' money to buy insurance for any contingencies. So far, I have ...
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2answers
990 views

How can you find out what life insurance a deceased person had?

So it seems like the way life insurance is supposed to work for a deceased person is that the beneficiary is supposed to somehow inform the insurance company of the insureds death (presumably by ...
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3answers
280 views

How to protect a Stock you still want to own from a downturn?

I have a few stocks on my portfolio that I still like and I still believe I should own. They still meet all my buy signals, so I will still buy them today. However, the stock market is not doing ...
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1answer
113 views

How do insurance companies calculate cost of replacement, specifically for a bike?

I had my bike stolen from my apartment. My renter's insurance covers "cost of replacement" for my bike. However, my bike was 8 years old and the model is no longer made. Bike costs in general have ...
96
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24answers
16k views

Why buy insurance?

I don't understand why people buy insurances when they know that odds are is not their favor. Is it not better bet to stay uninsured, and save money? I am not talking about house insurance. About ...
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1answer
42 views

long-term disability question what plan to pick?

At my work I am offered two plans. 1st one is for $55.08 per year pre taxed 60 percent and the 2nd $480.68 per year post tax 65 percent. I am 52. What's the best option?
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5answers
13k views

What to do with expired cards (credit, debit, insurance cards, …)

I wonder if it is safe to throw away expired cards (credit cards, debit cards, health insurance cards) with name and card/account/ID number as trash. Even if other people have them, will they be able ...
5
votes
3answers
2k views

“$100 Copay before deductible/40% Coinsurance after deductible”

I'm shopping for health insurance. (U.S., federal exchange, I'll be losing COBRA which is a qualifying life event.) One of the plans describes its emergency room costs as: $100 Copay before ...
14
votes
8answers
447 views

Buying insurance (extended warranty or guarantee) on everyday goods / appliances?

I have a practice of never buying insurance except when the law demands, such as car insurance, or when the loss would be too great to bear, such as house insurance, and this policy has saved me a lot ...
2
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1answer
212 views

How to dump whole life insurance?

I'm 5 years into my whole life policy with NWM and realizing that its just not a good investment. I've put in about 25k and now have 17k in cash value. I would like to take out that 17k and invest it ...
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2answers
113 views

How to get individual long-term disability insurance when you already have a group LTD plan with your employer?

I am a tech worker. My employer offers group LTD that covers 60% of my salary? I went out in the market to get an individual policy but my agent cannot find a company who will underwrite a policy with ...
6
votes
3answers
499 views

How many assets do you need before you should buy an umbrella insurance policy?

I've heard of umbrella policies before and I've seen some questions about them on the site, but I don't know how many assets you need before an umbrella policy is worth it. Does $50K of assets ...
2
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0answers
104 views

Change in health care deductible with newborn

My wife has health coverage (different from mine) through her employer. Her deductible is $1300. In May my daughter was born. Until then my wife incurred a lot of expenses and met the deductible. ...
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1answer
120 views

Claiming loss of income due to water damage in residence

I have been recently required to vacate my residence due to flooding. The ceilings, floors and fittings need to be removed from the bathroom, kitchen and hallway, rendering the property uninhabitable ...
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2answers
1k views

How does an insurance policy's Six Month Premium work?

So, I'm wondering... How does an insurance policies Six Month Premium work? Say full coverage would cost me $200/month and liability would cost me $100/month, but I decided to get full coverage and ...
5
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3answers
286 views

How does visibility of a house from the road or neighbors effect home owners insurance costs?

When applying for home insurance I was asked: Is the house visible from the road? Is the house visible from neighbors' houses? How are the answers to these questions likely to change the ...
5
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2answers
561 views

How do I judge if I am being made a fair offer by a car insurance company?

My girlfriend got into an accident with her (registered under my name) 2003 Honda civic. She was pulling out of the drive way (taking a right, basically parallel to the road) and got hit on the ...