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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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1answer
57 views

Why isn't auto insurance included in DTI

The debt-to-income ratio includes monthly payments such as your mortgage, car payments, student loan repayments, and child support. However, it doesn't include payments such as auto insurance. I ...
3
votes
2answers
206 views

What would happen if something were insured twice? [duplicate]

This is purely hypothetical and I'm not sure how it would work. Let's say that I own a house and I insured the building and its contents. Then I contacted another insurance company and I insured the ...
3
votes
2answers
96 views

Is it advised to minimize life insurance cover as investments grows over the time?

I am investing for retirement. I have covered myself with term/life insurance. I understand importance of insurance; that is not what I am asking here. Premiums paid for insurance are expense. ...
2
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0answers
59 views

Landlord or tenant responsible for the furnishing damaged after a flooding? [migrated]

I live in Sweden and the last 29th of July a flooding occurred in the basement of my building. I am renting a flat there and it goes with a small storage in the basement where I had some furnishings ...
0
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4answers
149 views

Are there any statutes of limitations on insurance claims?

I damaged my car a year and a half ago, and at the time I was mad and embarrassed at my mistake to the point that I just ignored it ever happened, even though I have full insurance on the vehicle (no ...
0
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1answer
115 views

Are you covered if homeowners insurance policy information is incorrect?

I'm wondering if an insurance company could deny my coverage if a disaster happens and, after the fact, they determine that information I supplied when signing up turns out to be inaccurate. For ...
0
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4answers
299 views

Is buying a powerful motorcycle on loan is a good idea?

I am thinking of purchasing a Ducati motorcycle. Its price, including taxes, is about $22K. I don’t own a car so I have no car payments. I had a $50k education loan which I paid off. I have about $...
5
votes
3answers
2k views

Claim Money to upgrade

I received money to replace my gutter but not my downspouts, I received money for painting so my downspouts and gutters match. Can I use that money to put towards downspouts instead and just pay the ...
46
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7answers
12k views

Is life insurance a financially sound safety net?

I'm the sole provider of a household of two - myself and my wife. I make enough to keep us both afloat, with a sizeable chunk of luxury on the side. For practical numbers, I am a month away from ...
3
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0answers
121 views

Would renters insurance cover this scenario?

This is US based. I have renters insurance and the coverage overview is as follows: Personal Property Loss of Use Personal Liability Medical. I have read my policy, but I do not believe the ...
1
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2answers
56 views

Home Insurance companies and underwritten policies

I am in porcess to buy a home in San Diego. As it has been covered relentlessly in the news lately, it is not a secret that Southern California is very prone to fires. Now, I am shopping around for ...
0
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2answers
132 views

Should I get a release of liability statement before paying for damages?

A sink in my condominium overflowed without me realizing it, and water went into my neighbor's condo, below me. There's damage to her drywall, and I agreed to pay to have it replaced. I received ...
2
votes
1answer
115 views

Portfolio insurance

I am thinking about betting the house, rather than the car, and will essentially pour all my entire net worth into the market. I am trying to find a way to protect myself against a major crash. I am ...
1
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0answers
32 views

how do you compare a private earthquake insurance company to using CEA in California

Regarding getting earthquake insurance in California, how can I compare a private earthquake insurance company (like geovera) to using CEA (California Earthquake Authority) in California. I have ...
4
votes
2answers
216 views

Mortgage Adviser Signed Me Up For Multiple Home and Life Insurances (UK)

So, back in 2016 we bought our home with the help of a mortgage adviser. During the process they signed us up for home insurance and life insurance. At the time I (perhaps stupidly) believed they ...
5
votes
2answers
162 views

How to determine the right level of disability insurance based on a person's lifestyle

I'm trying to determine what level of disability insurance is right for me. A thought crossed my mind: certain people experience less risk of disability. A person who works from home is at less risk ...
0
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0answers
81 views

I am being offered whole life insurance with a savings account. Should I take it?

I am being offered a savings account with a Whole life Insurance policy. I believe it is 100,000 policy for $30 a month. However, half of this goes to a savings account with a 4% "compound interest."...
4
votes
3answers
173 views

What happens to those huge company fines?

This is something that got me wonder a while ago, where the US, or the EU for example issue a huge fine to a company or a bank (Wells Fargo just got fined 1B$!), where is that money going? I mean will ...
1
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2answers
71 views

Increase in auto policy premium after removing 3rd car

My wife and I had 3 cars with Allstate. Homeowners, policy, umbrella policy, everything with Allstate. Same agent for 35+ years. Now the "kid" runs the show, somewhat arrogant, and enjoys all the ...
4
votes
1answer
113 views

Spouse termination documents affecting insurance

A little background: my wife recently changed jobs and is now working part time with a new employer. I want to add her to the health plan I have with my employer, but was told I need confirmation that ...
0
votes
1answer
129 views

Health insurance for psychological Skype consultations

I consult with an overseas psychologist via Skype. My current BCBS health insurance pays 80% when I visit my US psychologist. I don't know how to make the international health insurance since this is ...
3
votes
1answer
180 views

New mortgage lender is requiring I buy condo owners insurance

I live in California, I have applied to refinance my condo, which I have owned for 30 years. The new lender is requiring that in addition to the HOA (Homeowners' Association) insurance policy on the ...
5
votes
1answer
809 views

Why do people divide their liability coverage into primary and excess?

I sometimes hear that someone has "$300,000 of primary coverage and $1,000,000 of excess coverage." Why do they not just purchase $1,000,000 of primary coverage? What is being gained by splitting the ...
1
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1answer
356 views

Can corporate insurance coverage continue even after resigning?

While working at a company in India, I was covered by a corporate insurance policy. Also, I was asked to pay the annual premium for including my parents to the policy. In December, I had to resign ...
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0answers
41 views

Securitization of Asset Backed Securities [closed]

Currently reading about liabilities securitization process: As we can observe in the graph, the bank pools the liabilities creating the Reference Portfolio which is sold to the Special Purpose ...
2
votes
0answers
50 views

Sane master insurance policy for two-unit condo association

I live in a two-unit condo building (conversion from old house) in Massachusetts, and both units are owner occupied. Our master insurance policy for the condo reads like it is meant for a large condo ...
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7answers
805 views

How Is Insurance Fundamentally Different Than A Ponzi Scheme?

After watching this video from the WSJ about long term care its problem, it seems to indicate the following: Actuaries didn't think people would live as long as they have, so they wouldn't need the ...
3
votes
1answer
71 views

Does my life insurance company have to tell me the interest rate for borrowing on my cash value before I process the loan?

I have a permanent (whole life) insurance policy. I want to take out a loan on my cash value, so I called the company to get information. The company representative told me that they would give me ...
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votes
1answer
70 views

Estimated car insurance cost without personal information [closed]

What are the best websites for estimating car insurance price without leaving personal information?
4
votes
1answer
165 views

Finding problems with house after purchase

We recently bought a house in Nebraska, USA. I am British and this was my first experience of the US home buying process (and I hope my last!). I am hoping for some guidance as to whether either the ...
5
votes
2answers
397 views

My dentist sent a forged bill to my insurance (California, US)

I had an appointment with my dentist and they gave me a receipt with a total amount $409.00 for the services. Then they claimed $985.00 from my insurance. Insurance paid $750.00. They didn't ask me ...
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votes
2answers
170 views

Insurance fraud? [closed]

Here is a scenario: Buy car insurance from 2 or more companies for the same person and car. Drive into a wall and total the car. (Wear seatbelt to avoid injury) Collect the insurance money minus ...
66
votes
7answers
17k views

1 year old car is dead, called the car dealer they can fix it only if I can bring it, what should I do?

I have a new Toyota Prius (2017 model), bought between 12-13 months ago. The car recently has gone totally mad (Ironically 1 week after the service). So I arranged a booking to get it checked out, ...
5
votes
1answer
120 views

Insurance company incorrectly paid for several visits now rejects

My insurance company has been accepting and paying claims for several months and suddenly the identical billing code was rejected recently. I called the insurance company to find out why the claim was ...
5
votes
1answer
95 views

How can I argue for a higher motorcycle write-off value?

I was in an accident in June, other driver at fault. I had only liability coverage, so I've had to deal with his insurance directly. The bike was towed to a dealership and a week or so later I got a ...
9
votes
1answer
290 views

My mortgage handler mishandled my flood insurance proceeds - course of action?

My home flooded in August 2016. I received an insurance payout very timely. My mortgage lender, Whitney bank placed the funds in an escrow account and informed me that I must use a contractor and ...
4
votes
1answer
515 views

Is accident insurance worth it for my kids who play sports

I'm evaluating options at my job for insurance and an optional insurance offering is accident insurance. I'm looking at this for my kids who play sports in school and on club teams. It's $170 a year....
3
votes
1answer
208 views

Mortgage Company Holding insurance premium payment til repairs made

I am 70 years old and not in good health and do not know what to do to get my problem solved. My home was damaged by Hurricane Irma Damage estimate: $7500 My deductible was high: $13,200 So I ...
0
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0answers
41 views

Solvency 2 RI Assets?

So what I am learning about Solvency 2, particularly how to view an insurers balance sheet and I keep coming across an item on the Assets side of the balance sheet called "RI" or "RI Assets". Only ...
3
votes
1answer
34 views

Personal finance in EFU and NAFA

I have invested in management growth fund from EFU and National bank NAFA. I want to know why my investment is having loss in 4 to 5 months. I have about 140,000.00 loss every month. Should I ...
5
votes
1answer
578 views

How to Dispute a Medical Bill that Went to Collections

I had a 2-hour ER visit for a biking accident at an out-of-network location in 2014, and provided the insurance information at check-in. Four months later the hospital and the doctors (charging ...
3
votes
2answers
200 views

Is such a thing as “evacuation insurance” available?

Many Americans live in places where natural or man-made disasters can force them to evacuate on relatively short notice, and find somewhere else to stay for long enough to ride out some hazard. If ...
3
votes
2answers
253 views

Can I build a patio rather than repair a deck with the insurance payout?

Can I build a patio rather than repair a deck with the insurance payout? My deck suffered pretty severe structural damage due to a fire and was built in 1991. Frankly, I don't like the upkeep of a ...
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votes
4answers
197 views

Is it possible to get life insurance as a beneficiary before the person insured dies?

I have a relative who has a nice life insurance policy out for me, but it's sad to hear that they likely won't die anytime soon. I am wondering if there's any way one can cash in on some of the policy ...
1
vote
1answer
68 views

Doubt regarding NCB for a second hand car

I had bought a second hand car with NCB 50%. When i approached the car insurer to change the ownership name, he did the same and he didn't mention anything about the NCB transfer and I also was ...
1
vote
0answers
89 views

Purchasing insurance to protect lender, in a personal family loan situation

I know that mortgage lenders generally require homeowners purchase home insurance, with a loss clause payable to the lender. But what if it's a family loan, and the borrower is not cooperative? The ...
24
votes
3answers
4k views

Health insurance coverage canceled due to mistake. Can it be corrected?

My medical insurance coverage through my spouse's employer was terminated because my spouse mistakenly checked the wrong box during the annual open enrollment. I've been on my husband's insurance ...
104
votes
13answers
17k views

Does it make sense to insure something when you could financially bear its loss?

I'm wondering whether it makes sense to insure something if its loss would not be life-changing. I want to buy a boat to live on while I attend university. It would cost about 10,000 dollars and my ...
1
vote
1answer
329 views

compromise between 100% insurance and no insurance? (long term view)

Assume you can get private health insurance for different premiums, and they cover any directly health related costs (hospital stay, needed medicines, physiotherapy etc.) up to a maximum amount. It is ...
6
votes
1answer
312 views

Finding an item months after getting it replaced by insurance

Many months ago I lost my phone. It was insurred and I got it replaced. Earlier today I thought I found the old phone (it was actually a previous model of the same make of phone). For a brief few ...