Questions tagged [insurance]

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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16 views

Car Insurance cover for travelling to work

Does anyone know if travelling to work used to be included in Social Domestic and Pleasure car insurance please.
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2answers
44 views

Term Life Insurance rate will stay inside the same group?

I am reading AAA Term Life Insurance offer. I am wondering that the rate will stay inside the same group until the end of the insurance (80 years old) or will jump to a different group when you are ...
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3answers
270 views

If I don't trust insurance companies, what alternative options exist to counter a potential earthquake?

I live in Seattle which is well known for potentially having a huge earthquake sometime in the next 1,000 years. I would like to protect my property against such a catastrophic outcome, but at the ...
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42 views

School's tuition insurance charge eligible for 529 reimbursement?

My son's tuition bill includes around $100 for tuition insurance. Can I have this paid directly from the 529 account to the university, or must I pay that separately? Articles I've read researching ...
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2answers
75 views

Insurance for expensive items in carry-on moving from US -> Canada

I'm repatriating from the U.S. to Canada. My apartment is ending my lease on the day I fly out, then I'll be staying in a hotel for a while before moving to permanent housing. I have some antiques ...
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1answer
49 views

Why isn't money in a Transferwise account insured?

I'm thinking of moving my money to an online banking/transfer services. After an online search, I selected Transferwise for some reasons. While I was reading their docs, I found this: If something ...
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1answer
38 views

Journals for credit with suppliers

How would I keep a record of payments with an insurance supplier (Zego if that helps) if they bill on the basis that the account gets topped up with credit, then they deduct from the credit on a pay ...
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1answer
71 views

Insurance product for retirement

I am new in finance. If I want to propose an insurance product for retired people, and I am supposed to take on financial risks in the hope of profit. Can someone give me some informative tips of what ...
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3answers
466 views

Auto Insurance in Michigan: What is the need for liability covereage?

I live in Michigan. Recently, state law changed such that we have "no-fault" auto insurance. We still must hold liability of $50,000 per person, $100,000 per accident. Since we are in a &...
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2answers
115 views

When buying an insurance policy, is it necessary to analyze the credit risk of the insurance company?

When saving money in a bank, one does not have to worry about credit risks of the bank because there is deposit insurance. When buying insurance, do I have to worry about the credit risk of the ...
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1answer
62 views

Should flat owner (in multi-story apartment, living beneath another flat) take both Building insurance & contents insurance

This is UK specific question. In case of flat, everyone is aware that there's some building wide structure insurance which management company arranged on behalf of flat owners & the freeholder. ...
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1answer
188 views

Are there any avenues for hedging against the risk of a broke landlord?

My family rents our primary residence in a major city and we pay significant monthly rent, enough to cover two or three mortgage payments in a cheap juridisction. One of the key reasons I have been a ...
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2answers
320 views

If you change to a new employer, does dental lifetime maximum reset?

Suppose that you have a lifetime maximum with Provider A at Employer A. You use your $1500 lifetime maximum for major work. Then you get a new job. Then you want to do more major work. You get an ...
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2answers
239 views

Car insurance gas station mix-up fuels — gas station made the mistake

We rented a car with Hertz and we filled up our tank with petrol and later on that day our car broke down. The road side assistance people told us the next day that we put diesel instead of petrol in ...
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1answer
95 views

Do financial institutions cover customers for cases of cybertheft?

No cybersecurity is perfect; accounts can be hacked at any time. If I find that a hacker has stolen the money in my bank or broker account, does the financial institution cover that; or is it my loss,...
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2answers
57 views

Validity of an exchanged foreign driving license

I exchanged my EU driving license (obtained back in 2004) into a UK one in 2015. The UK driving license therefore says 2015 under 'Date of Issue'. I'm in the process of getting quotes for car ...
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1answer
265 views

What kind of insurance do I need for my little house in a garden?

There is a small house located in my orchard in Germany. The orchard contains mostly fruit trees and is situated in a landscape protection area. The house has two stories and is built of stone, but it ...
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1answer
108 views

If I buy life insurance in one state, and then move, does my life insurance policy still cover me in a new state?

I'm planning on moving to a new state next year, but in the meantime I want to get some life insurance to protect my family from any unfortunate tragedy that may befall me along the way. Looking into ...
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54 views

How do I get my insurance to treat an ambulance charge for a 5150 transfer as “in network”?

My daughter became suicidal and after taking her to our local emergency room she was placed on a 5150 and was subsequently transferred to the nearest inpatient mental health faculty. Our local ...
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0answers
112 views

Turning 30, getting driver's license for the first time, need insurance

This is a bit embarrassing, but I am turning 30 and am just now trying to get a driver's license for the first time. I own my own car, just bought it recently to learn to drive, but I don't have a ...
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4answers
5k views

Who pays the premium for bank deposit insurance?

Normally, when I want insurance coverage (e.g. for my car and house), I have to pay a premium to the insurer. My bank account comes with deposit insurance to insure me against bank collapse. It looks ...
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4answers
3k views

Universal Life Insurance or Term Life Insurance?

I am new to this website and asking for your help with a situation related to my personal finances. I have a friend who recently joined WFG (World Financial Group) and they were asking for me to join ...
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0answers
30 views

Business banking insurance above FSCS £85,000 [closed]

In the UK, the Financial Services Compensation Scheme (FSCS) provides insurance for bank deposits up to £85,000. Is there an insurance (or financial product) that provides coverage above this ...
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2answers
101 views

Where can I find a highly detailed model for how a normal US health insurance companies sets premiums?

I found this, and it was a great starting point for research but I would like to learn about the nitty-gritty details. For example, obesity is not considered a "pre-existing condition" and is often ...
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2answers
141 views

What do these credentials for an insurance agent mean and are they signficant?

My family needs to buy so many insurances like Car, Condo, Critical Illness, Dental, Disability, Expat, Life, Homeowner, Landlord, Pet, Renter, Travel. We need an insurance agent and I stumbled on a ...
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1answer
81 views

Why don't insurance companies cover you if you didn't pay the month but still they require you to pay this period?

Why don't insurance companies cover you if you didn't pay the month in advance yet they require you to pay the full month along with interest if you're overdue? If you pay at 10th of the month, then ...
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1answer
27 views

Term Life Insurance premium vs Interest/Inflation rate

I am thinking of buying a term insurance plan for myself in India and am 28 years old. My premium per year to be paid for a period of 10 years and coverage till 99 years works out to be 111,213 INR. ...
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1answer
108 views

Can a person other than the person it is written to cash a Very Large Check?

My predicament: United States, father passed away, mother is disabled. I've been here for a few weeks taking care of all of their affairs, including filing the life insurance claim. Apparently, the ...
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40 views

Disability Insurance - Limitation While Outside the United States or Canada

One thing that's very important to me about DI is that it doesn't restrict its coverage area to just within US & CA. Since I will have the policy for 20 years, given the current trend of ...
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0answers
27 views

When does the government need Record's of Employment for EI benefits submitted to them?

I lost my job due to COVID-19. I applied for Employment Insurance (EI). The instructions regarding the Record's of Employment (RoE) were a bit unclear. When I login to Service Canada most of my RoE ...
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4answers
2k views

Why would I/when should I stick with decreasing term life insurance?

I have been approved for some decreasing term life insurance, with a 25 year term and a decreasing payout by 8% each year. I can leave the contract at any time and take out new life insurance. What I ...
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1answer
110 views

Are there escape clauses that insurer can use to not pay claims if too many people die from Covid virus?

Are there any clauses in a insurance contract that allows an insurer to not pay claims if too many people die from Covid virus? Is there a risk that insurance customers will be left out to dry?
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1answer
85 views

What is the ratio between money paid by insurance vs total premium called?

On average, everyone loses money in buying insurance. That's understandable. Insurance have overhead costs and insurance companies want to make profit. Not all premium is paid to cover coverage. ...
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3answers
160 views

How do insurers justify raising premiums after no-fault claims?

I don't know if it applies to other countries, but in Canada practically all auto and home insurers routinely raise your insurance premiums after you make a claim, even for not-at-fault and purely ...
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0answers
20 views

Master condo insurance - Replacement costc vs insurance coverage limit

What's the difference between the replacement cost and the insurance coverage limit for a master condo insurance policy? Are they the same quantity? If not, how should I think about their difference?
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2answers
105 views

Umbrella insurance and maximum liability

Let's say that your net worth is $1 million and, to protect yourself, you take out an umbrella insurance policy with a maximum liability of $1 million. Then suppose something terrible happens and you ...
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1answer
127 views

What happens to annuities in a long bear market?

Annuities are insurance contracts which establish regular payments to an individual by the insurance company, typically lasting until said individual's end of life. Usually, the individual gives the ...
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1answer
26 views

ULIP investment

I am from India. I have a ULIP(Unit Linked Insurance Plan) which Premium cost me Rs X00000 per year which I started in June 2019. Plan name is ICICI PruSignature. The plan is for 5 years and I have ...
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8answers
13k views

Is it true that car insurance can go up if a member of your family gets a license?

I was told that because I live with a parent, if I were to get a drivers license, their insurance payments would be higher, even if I'm not actually on their insurance. Is that true? How would the ...
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1answer
1k views

What is the difference between claims repudiated and claims rejected in IRDAI Annual Report?

Insurance Regulatory and Development Authority is a autonomous body regulating insurance industry in india. It releases an Annual Report every year for providing some statistics and data from industry....
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1answer
171 views

What happens to the insurance payout on home insurance if the policyholder dies when the home is destroyed?

After talking to my dad the other week, he mentioned his home isn't insured, because he can't afford it. I've been looking up policies which would suit him, and I'm planning on paying for the policy ...
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4answers
215 views

Can you purchase medical/dental insurance after you know you will use it?

Currently I do not have dental insurance with my job. I just found out I need some major work :( Can I still get dental insurance and have it save me money? I know it's possible to get dental ...
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1answer
57 views

Essential difference between international travel insurance and relocation insurance

After reading a bit about international travel insurance concept and policies and about relocation insurance concept and policies I didn't recognize any essential difference by policy content. Both ...
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1answer
97 views

Buy one term insurance policy for Rs 2 crore or two term insurance policies for 1 crore each?

If I need to provide for two sets of dependents and may need to remove one set of dependents in future, does it make sense to get one Rs 2 crore term life insurance policy or two separate Rs 1 crore ...
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6answers
4k views

Do insurance rates depend on credit scores?

When reading up on credit scores, I came across this article. It contains this paragraph: A bad score can become a black mark that leads to missing out on the home you want (credit checks are a ...
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7answers
9k views

Is there any reason a person would voluntarily choose to have PMI?

Private Mortgage Insurance (PMI) seems to be treated as a necessary evil. Inquiries about pmi on this site and elsewhere almost always revolve around avoiding it - how to avoid being required to ...
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2answers
138 views

How do I make a State Farm policy change without an agent?

My agent is only available when I'm working. When I call "after hours", I always get in touch with another human who seems helpful, but won't make changes for me. She says I need to speak to the agent....
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1answer
91 views

Would condo HOA insurance cover damage to guest vehicles? [closed]

I recently stayed in an airbnb; it was a unit in a condo complex with a shared parking lot and an HOA. I drove my Tesla there, and plugged it into an outdoor outlet on the side of a covered parking ...
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1answer
116 views

What factors should be considered while buying home insurance?

I own a flat/home/unit in an apartment. I recently paid off all may outstanding mortgage. While the mortgage, the home-insurance was owned by (in name of) bank which is now cleared off. As there is ...
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2answers
190 views

Insurance for my brokerage held investments

This is not about protecting the VALUE of my investments against market fluctuations, stock prices drop ...etc. What I am looking for is to protect my investments in shares and options that I am ...

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