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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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1 answer
82 views

Two Umbrella Policies

I have a 6 million dollar umbrella policy through my current insurance company. I do not want to switch insurance companies and they will not increase the limit on my umbrella. I want a larger ...
1 vote
1 answer
76 views

How should I recover unused GAP insurance funds?

A few years ago a bought a new car from a Hyundai dealership with GAP insurance. It was all financed through Chase bank. This year I traded it in for another new car (different dealership). As part of ...
0 votes
2 answers
475 views

Apartment owner is listed as Additional Insured on renter's insurance policy

I have concerns about liability protection with my current renter's insurance policy in the US in the state of Texas. I would like to understand if there is anything more I can do or push on my ...
9 votes
10 answers
6k views

What is the point of term life insurance?

I am in USA. I am trying to understand term life insurance. My husband makes $150K a year and wanted to get a term life. I believe the rule is 10 times your yearly salary so for us it would be term ...
2 votes
1 answer
160 views

Umbrella Policy for Greater Than Half Million Worth

My net worth is around 1.4 million dollars. I read somewhere that I should get an umbrella policy. Currently, I have basic car insurance as shown below. Car 1 Coverage: Bodily Injury Coverage Limit ...
16 votes
4 answers
5k views

Weird behavior by car insurance - is this legit?

Context: In the UK. We recently touched another car on the road, resulting in a minor scratch on our car. We were responsible and told this to the insurance. The car is small and old (low value). Then ...
0 votes
1 answer
63 views

Commercial insurance coverage for rental property

I have recently discovered that my insurance company has been charging me for insurance as if my rental property is commercial property, which increases the premium significantly every year. Other ...
1 vote
1 answer
61 views

How do insurance policies with separate underwriters(?) work?

I have a condo insurance policy with GEICO that is separately underwritten (not sure of the precise term) by Travelers. If I want to get basically the same policy underwritten by Travelers, but not ...
1 vote
1 answer
151 views

How to know the dollar amount that my employer pays for the group health plan?

Let's say I pay $600/month (deducted from my paycheck) for the premiums in my PPO plan. Is there a public place to check how much of the premium my employer pay (without needing to contact my employer)...
0 votes
0 answers
135 views

Cost of an Umbrella Policy

About me, I am single and I own a car. I also own a home. I live in New Jersey. I recently got a quote on a 5 million dollar umbrella policy and a quote on a 10 million dollar umbrella policy for my ...
1 vote
3 answers
291 views

Why am I being declined for new insurance?

I requested quotes from Liberty Mutual and Geico for car and homeowner's insurance, and they both refused to insure me. This was a shock to me, since my wife and I both have credit ratings above 800, ...
0 votes
1 answer
115 views

Can condo management force owners to insure the outside of the building?

Can condo management force owners to insure the outside of the building? I thought owners were responsible to insure from sheet rock, in. And management is responsible to insure from sheet rock out! I ...
5 votes
1 answer
16k 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 ...
0 votes
1 answer
89 views

How do daily quitable insurances ever make money in Germany?

I am having a look at renter legal insurances in Germany refer. The Bavaria direct says I pay 11.12 euros a month to get a rental insurance, and I should, in theory, be able to get a lawyer who ...
16 votes
10 answers
5k views

Why is the mandated minimal liability car insurance coverage so high?

All over the world, you need car insurance that covers the damages you do to others. In Austria and Germany, this insurance has to cover at least 7 790 000 € of damages. Isn't it a bit high? This ...
3 votes
2 answers
277 views

Why does our home insurer want to know details of a previous policy with another insurer?

Our house has some external 'staircase' cracks, and is likely affected by subsidence. We have got in touch with our insurance company about this, and they have started the process of investigating the ...
1 vote
1 answer
269 views

Will I get a refund for my insurance renewal?

I Switched insurance from company A to company B. Insurance A had already charged the renewal amount December 9th even though I’m not due to renew until December 22nd (since that’s when my coverage ...
3 votes
9 answers
6k 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 ...
8 votes
3 answers
5k views

Switching health insurance due to birth of baby

Expecting a baby in a few months and also working through Open Enrollment season. If I chose a low deductible plan for the beginning of 2024, and then switch to a high deductible plan after baby is ...
1 vote
0 answers
134 views

Can an individual insure oneself against the potential liability placed on software developers by the Cyber Resilience Act?

I asked a question on law about the responsibilities placed on open source software developers globally who want or have to stop work by the forthcoming EU Cyber Resilience Act. The answer has ...
0 votes
1 answer
507 views

How do I get my lender to remove PMI from my loan?

I've asked my home mortgage lender several times to remove the private mortgage insurance (PMI), and they said, "No, it is for the life of the loan." We are down to only $20,000 on our loan ...
14 votes
3 answers
9k views

Can a roofing company charge me more money for the cost of the roof 2.5 years after they were paid and job completed?

I had my roof done (in Florida) 2.5 years ago. I paid my deductible and they were paid by my insurance company just after that. Now, just 2 months ago, again 2.5 years later, I get a call from them ...
11 votes
2 answers
9k views

Can a homeowners insurance demand that I perform specific maintenance at my home?

Our insurance company sent someone out to take photos of our home. They then sent us a letter stating we must fix cracked windows and remove any foliage that is near or hangs over house and out-...
5 votes
6 answers
8k views

How can I find out what % of the health insurance premium my employer pays?

Let's say I pay $600/month (deducted from my paycheck) for the premiums in my PPO plan. Is there a public place to check how much of the premium my employer pay (without needing to ask them of course)?...
-1 votes
1 answer
232 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 ...
14 votes
3 answers
5k views

What's the incentive for an at-fault driver to respond to a third-party claim?

I have filed a third-party claim worth about US$3,000 with the at-fault driver's car insurance in California. The other driver has been unresponsive to the adjuster. If this continues for another ...
0 votes
2 answers
230 views

Closing a car insurance claim the day after filing it, with zero dollars paid and no actions taken on the claim: will premium typically go up?

Consider cases where you file a claim, and close the claim the next day, and the insurance company paid you zero dollars and took no actions on the claim such as towing or inspecting the vehicle etc. ...
130 votes
23 answers
24k views

Why buy insurance?

I don't understand why people buy insurance when they know the odds are not in their favor. Is staying uninsured and saving money not a better bet? I am not talking about house insurance. About things ...
1 vote
1 answer
204 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 ...
3 votes
1 answer
2k views

Can an executor to a will renew insurance policies of the deceased person?

A mother, with a relatively high net worth, dies while owning a home. While she was alive, she had home owners insurance and a personal umbrella policy. While the estate is being settled, her son ...
0 votes
1 answer
366 views

How old a car needs to be for one to request diminish value claim

I am based in NC. My car was hit by another vehicle. The person who hit us, his insurance company paid for repairs. My car is from 2015. When I made request for a diminished value claim, I was told “...
-1 votes
1 answer
193 views

How to deal with insurance after car accident

My car met with an accident early January. The doors were slammed and the person who hit our car admitted his fault and confirmed his insurance will take care of expense. This is what happened (...
-11 votes
1 answer
695 views

car insurance -- absolute cheapest possible way to make / get it [closed]

I'm aware that it's possible to make your own car insurance company. That being said, does anyone know of the absolute, cheapest possible car insurance there can be? I'm not concerned at all about ...
0 votes
1 answer
420 views

Why would an insurer ask for a voided check instead of account+routing numbers to send an electronic funds transfer (EFT)?

Some insurer in the US has to send me some money. They wrote me the following: If you would like an EFT deposit we would need a copy of a voided check. Why would an insurance ask for a voided check ...
14 votes
4 answers
4k views

Annuity money is not insured?

I am thinking of buying an annuity. I am worried about the following words on the contract. Is it the standard way of an annuity? If something goes wrong, will I lose ALL my money? I am in the USA. ...
62 votes
6 answers
13k views

Why does Geico ask me not to reveal the limits of my liability coverage in case of a car accident?

I read on my "Evidence of Liability Insurance card" issued by Geico in California, US: What to do at the time of an accident: […] Do not reveal the limits of your liability coverage to anyone. Why ...
-1 votes
4 answers
750 views

Insurance Fees on Withdrawal on Trade Account [duplicate]

The company is called Anvex Trades and they are based out of the UK. I have seen many inconsistencies in this account manager, and I can see it right through her lies. Yes, shame on me for falling for ...
0 votes
1 answer
65 views

Dual insurance question

Here is the scenario: I am about to retire from the state of CA, but I will retain my State of CA health insurance (PPO--Anthem PERS Gold). I am going back to federal employment, and I have several ...
2 votes
1 answer
132 views

How to decide on coverage amount for home-contents insurance?

I am considering to do a home-contents insurance. The insurance company lets me decide by myself on the upper bound for the insurance amount - they do not send an assessor. I do not have large ...
1 vote
2 answers
181 views

Why do some whole life insurance plans have a Minimum Required Fixed Interest Strategy Allocation (MRFISA)?

Some whole life insurance plans have a Minimum Required Fixed Interest Strategy Allocation (MRFISA), which is defined as follows: Minimum Required Fixed Interest Strategy Allocation (MRFISA): A ...
3 votes
0 answers
50 views

How to handle income tax for weird insurance claim scenario

About 5 years ago, a dependent attended a treatment facility in another state. All of the insurance checks were sent to me and I forward them on, since the facility was out of network. We thought this ...
-1 votes
1 answer
133 views

What's an Index Interest Strategy Charge Rate in a long-term care (LTC) insurance plan?

I'm looking at some Life Insurance Illustration (mirror) for the Long-term care (LTC) insurance plan "Nationwide Indexed UL Protector II 2020" managed by the Nationwide Life and Annuity ...
1 vote
2 answers
202 views

Orthodontist billed full amount and back dated with my new insurance, must it be billed this way?

I just got new insurance and they cover orthodontia as of December 2022. However, my braces were put on in October of 2022. The braces cost $5,500 and I have already paid $3,000 of this cost. I called ...
2 votes
1 answer
431 views

Can unpermitted work cause an unrelated insurance claim to be denied?

For example, if I install a deck on my property without a permit and then a hurricane rips my roof off, could the claim get denied? Or if I install drywall in my garage and turn it into living space ...
3 votes
3 answers
316 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 ...
2 votes
1 answer
248 views

Does Auto insurance remain in effect for teen driver, if policy holders die

Sorry to ask this weird question. Auto insurance is bought by Parents and names Parents as insured and lists teenager as authorized driver. God forbid, if for some reason parents die( in auto or non ...
3 votes
1 answer
282 views

Does it ever make sense not to file a claim on my auto insurance to keep rates low?

Given that auto-body shops report repairs to a car to services like CARFAX, it is pretty much impossible to hide the fact that your car was in an accident. Does it ever make sense to not file a ...
21 votes
8 answers
22k 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 ...
-3 votes
1 answer
235 views

Can I make an insurance claim against the YMCA for the damage and theft from my car, which happened in their parking lot?

Clarification: Yes, we were negligent in placing the handbag in the rear passenger seat. We thought since it was dark and in an enclosed and busy parking lot, and the passenger windows were tinted, it ...
5 votes
3 answers
233 views

Life insurance to cover care for an older relative

Suppose that I provide support for a much older relative. I worry that in the unlikely case if I die before the relative, the relative will not be provided for. Is there a life insurance that pays ...

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