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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12
votes
2answers
369 views

What will the penalties be for someone without insurance after Affordable Care Act takes effect?

If I currently don't have health insurance will I have to buy a plan? If I do not what will the penalties be?
0
votes
1answer
31 views

Weird charge in insurance plan [Netherlands]

I've been living in the Netherlands as a student, since August, and the health insurance I had up to about a month ago was the European Health Insurance Card. However, at the end of December, I had to ...
1
vote
1answer
47 views

What is bespoke insurance?

A business summary describes an insurance company: "... it provides insurance products that cover war and political risks that include kidnap and ransom, political risks, political violence and ...
2
votes
1answer
265 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 ...
1
vote
2answers
53 views

Given advice “buy term insurance and invest the rest”, how should one “invest the rest”?

It is often recommended that people buy term insurance for a lower premium cost, and invest the rest of the money. It is said that the returns from your own investment are higher than the ones from ...
13
votes
6answers
1k views

Why should I invest my money in a life insurance policy?

As i am 24 now i get lot of calls from lot of insurance companies asking to take up an insurance policy.... So i decided to get answers for some of my questions in basicallymoney... Why should i ...
11
votes
1answer
1k views

Why do billionaires buy life insurance? [closed]

I hear and read a lot of people say that consumers should "Buy term and invest the difference." I also read that life insurance is a bad investment. Yet, when I did an Internet search, not only did I ...
0
votes
3answers
132 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 ...
3
votes
0answers
142 views

What type of insurance would protect you against the Amazon 1p bug?

After seeing many hobby and small businesses losing thousands of pounds due to a software bug pricing their products at 1p on Amazon I've been wondering. Is there a type of insurance that a hobby ...
5
votes
1answer
998 views

Retroactive COBRA Premium Increase: Can my COBRA health insurance premiums be hiked retroactively?

I hope this is the right place to ask this, but if not let me know and I'll go away. About 6 months ago I left a W-2 position to do independent consulting. Since then, I have been using my previous ...
9
votes
1answer
386 views

Trip Interruption insurance vs. Trip Cancellation insurance: what's the difference?

My credit card says they offer trip interruption insurance as a benefit. I am only familiar with trip cancellation insurance. Are these the same or different?
6
votes
4answers
319 views

How can I save money on car insurance?

What are some of the easy or not-so-easy ways to save money on car insurance?
0
votes
2answers
124 views

How long does a business have to give a refund?

My dentist's office requires payment upfront, and then they wait to get paid by the insurance. On Yelp, people say that it takes a lot of sweat and tears to get a refund from them. (In my case the ...
2
votes
1answer
114 views

Insurance Copay requirement when paying 100% deductible

I have health insurance with a $500 deductible. If I go to the doctor and the bill is for example $400, I am required to pay the $400 and a $10 copay by the insurance company. Can insurance companies ...
1
vote
2answers
76 views

Life Insurance Policy for my Dad

My dad want me to get a life insurance policy on him. I have no clue where to start or even what type of questions to ask. What are the positives and negatives of buying a policy. Is it a sound ...
3
votes
1answer
36 views

What is the added advantage of a broker being a member of NFA in addition to IIROC

If my broker is a member of the national futures association, what extra protection does it give me over the fact that it is also a member of IIROC? I am particularly referring to this: ...
15
votes
3answers
822 views

Does the following kind of retirement product exist?

Say I am 65 and want to retire and I have saved up $1 million over my lifetime. I also want to use this money up before I die because I have no heirs. Let's say the average life span of humans is 85 ...
0
votes
1answer
27 views

How does agreed value insurance work with inflation?

In an agreed value insurance plan I understand that the number X is the amount that will be paid out upon loss. However I have two questions in regard to this: Upon renewing my policy yearly am I ...
3
votes
2answers
130 views

Does it make sense to look for medical plans outside “Obamacare”?

Does it make sense to look for medical plans outside of the ACA Exchanges (such as the https://calheers.ca.gov/ in California), or are those as good as it gets? If it's illegal for the insurer to ...
2
votes
2answers
80 views

Calendar year changes and Out-of-Pocket reset

I have been with a School District for three years. This last year I had major surgery. I met my deductible and by August I reached my OOP max. In September the district got a new plan. They made ...
12
votes
6answers
3k views

Do I need ID theft Insurance?

Identity theft insurance? Dave Ramsey says yes. Consumer reports (CR) says no. The complication is that Dave recommends an identity theft insurance from Zander Insurance, where as CR says to say no ...
2
votes
2answers
109 views

renter's insurance for causing property damage

It seems that renter's insurance only covers the tenant's property and perhaps guests. I suspect that a far bigger financial risk for a tenant is in liability due to causing a fire, flood or other ...
36
votes
12answers
7k views

Is insurance worth it if you can afford to replace the item? If not, when is it?

I am talking here exclusively about insurance for items (not for health or other type of insurance where lives and liability are at risk). Let's say I have a 1-year old Macbook (costs $2000+tax new) ...
0
votes
1answer
38 views

COBRA and “in progress” expenses

I'm leaving my job in a few days, and I have significant "in progress" dental expenses. I haven't received any official COBRA information yet. I'm worried that any appointments after my last day at ...
0
votes
2answers
74 views

How to insure belongings on road trip?

I'm shipping my car with a reputable carrier across the country. I am going to put some of my belongings in the trunk. I have insurance on the car, but if I wanted to insure the items in the trunk ...
1
vote
2answers
45 views

Insurance against final value

If I have property/land for sale at a higher value than that which it was purchased can I insure against the selling price? Say my family home that has sentimental value above the retail value and I ...
4
votes
3answers
9k views

What is the difference between Health, Medical and Life Insurance (India) and Which one I should take my self and which one for my wife?

What is the difference between Health, Medical and Life Insurance (India) and Which one I should take my self and which one for my wife? I want to take insurance for safety + tax saving purpose. What ...
4
votes
1answer
124 views

Is there a rule of thumb to help “Sanity check” insurance costs?

My house insurance is up for renewal. I'm busy and I don't want to spend a lot of time getting quotes, especially since this policy is tied to another one that is hard to get and that we could only ...
-3
votes
1answer
78 views

I own but do not live in a flat. Am I responsible for damage caused to neighboring flat? [closed]

I am on the title and mortgage of a flat with my wife (soon-to-be ex-wife). I moved out of the property a couple years ago and still pay my part of the mortgage. Since then my (soon-to-be ex)wife has ...
9
votes
1answer
187 views

Should I pay the insurance discounted rate or the full rate for an ambulance ride under my deductible?

I had to call recently an ambulance because of a food allergy. By the time I reached hospital, I was okay. Last month, I recieved a bill of 3500 USD. I am just wondering, is it a fair charge? Since my ...
2
votes
1answer
49 views

Where to get liability insurance for car rentals, as an add-on to Visa Collision Damage Waiver?

For car rentals paid for entirely by Visa credit cards, Visa usually provides a benefit called the Collision Damage Waiver, which in my experience is pretty good. It does not however cover personal ...
4
votes
1answer
362 views

Car Accident - Can I get Cash/Check instead?

My vehicle (pick-up truck) was legally parked on a street and a car struck my truck and caused some damage to the body and bumper. When I called, the other driver's insurance company told me to take ...
5
votes
2answers
192 views

Could my insurance company be giving my healthcare providers kickbacks?

This may seems like a far-fetched conspiracy theory, but this has happened to me twice now... Scenario goes like this: My insurance policy covers X but not Y (or X has a lower deductible than Y). I ...
2
votes
2answers
798 views

Why would I enroll in a Limited Purpose FSA, on top of an HSA?

Open enrollment is coming up and I have the option to open both an HSA and a limited purpose FSA, which only covers dental and vision expenses. Why would I participate in both?
3
votes
1answer
115 views

Should my live-in significant other and I both have renter's insurance?

My significant other and I both have our names on the lease for our shared apartment. We are not married. She has a renter's insurance policy that she claims is enough to cover both her belongings and ...
22
votes
8answers
1k views

Why do people buy insurance even if they have the means to overcome the loss?

Insurance companies are businesses and their goal is to make money. It follows that if you are neither lucky nor unlucky, you will end up in the long run losing money by stipulating an insurance. I ...
2
votes
1answer
72 views

Paying for Long Term Care Insurance for relative

My mother-in-law (in her 60s) has no assets, and a pension (state and Social Security combined) of less than $700 month when she retires. Currently, I'm paying for LTCI ($150/day, 90-day elimination, ...
6
votes
2answers
137 views

Personal liability insurance with no car or house

Is it possible to get a personal liability insurance if I don't drive (I don't have a driving license and I don't own a car) and if I don't own a house (I am renting)? The use case I'm thinking about ...
2
votes
1answer
160 views

Is the Chrysler extended warranty coverage worth it?

Is it suggestible to take Chrysler bumper to bumper lifetime insurance? I bought a Jeep Cherokee 2014 and initial warranty info looks like this. Warranty Basic - Miles:36,000 Basic - Months:36 ...
1
vote
2answers
78 views

Car insurance versus personal liability insurance

I'm in the market for car insurance for the first time, and I'm trying to understand the best way to approach it. I've talked to some insurance salesmen, and they consistently try to convince me that ...
0
votes
1answer
76 views

Does insurance cover injury playing rec sports

If I get hurt playing recreational soccer after work, will my employer insurance cover my medical/hospital expenses?
8
votes
1answer
314 views

Insurance for a house which is not homeowners insurance?

My wife and I moved last summer, and our former home is still on the market. We were recently informed by our homeowners insurance company that because the house is no longer owner occupied, they will ...
3
votes
2answers
66 views

Equifax credit report insurance quotations

I have just ordered a credit report from equifax. The credit report shows up all healthy except for a large number of (genuine) 'insurance quotations'. These are car insurance quotations that I have ...
9
votes
2answers
200 views

When is an event worth insuring against?

Inspired by another question, what factors should generally be considered when deciding wheter or not to insure yourself against events with a financial impact? The linked answer makes mention of any ...
2
votes
2answers
94 views

Having two different employer healthcare plans

I currently have two healthcare plans, one is United Health Care and one is Anthem Blue Cross. I'm able to get my health insurance in full from my old job which is why still have it(ABC). Anthem Blue ...
9
votes
5answers
1k views

Can one insure a home's AC unit?

My mother-in-law would like to insure her single family home AC unit while my wife and I are informally renting a room with her. Is this possible? Although the unit is 10 years old and runs fine, she ...
1
vote
1answer
138 views

What's the catch with accidental death/disability mortgage insurance?

I just bought a house. Now I'm getting ads in the mail every day or two trying to sell me accidental death insurance for my mortgage. (AKA critical illness mortgage insurance, mortgage protection ...
2
votes
1answer
42 views

Homeowner's policy - will insurance pay coverage amount in case of a loss?

I am reviewing my homeowner's policy that is due for renewal and I think I may have too much coverage. My question: will the insurance company pay the coverage amount if the building is a total loss ...
0
votes
2answers
215 views

How does an insurance policies 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 ...
6
votes
1answer
117 views

Can I deduct my individual Health Insurance Premium in Tax

I have a my own LLC and working as self employee for this company. I am working on 1099 for this company. Since there is only 2 employee (including my spouse), I can't take health insurance from my ...