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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1answer
63 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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what is the meaning of the following terms: (IIPW) and (IMD) procurement?

So there is an applcation for a loan I'm currently filling, and there is this question. Google doesn't seem to be very helpful, can I get some reading materials on it and what are they abbreviation ...
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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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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
61 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
105 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
12k 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
36 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
160 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
208 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
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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
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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
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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
130 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
90 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
69 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
130 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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1answer
152 views

Finding trustworthy financial help for my partner in the event of my death

I'm currently researching options for my partner to manage the money she'd get, in the event of my death. In short my wife is not financially literate, but if I died would be coming into an ...
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2answers
2k views

Orthodontist charged me more than submitted as total to insurance and wants me to pay the rest?

I had an orthodontic procedure done. The total bill was $10k. My insurance covers 90% of this procedure.They processed the claim and it shows coverage at about 60% of the total amount. I called ...
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0answers
53 views

If someone files a claim for short term disability for maternity leave, would future premiums be adversely affected?

If filing a claim for maternity leave does not increase the premiums required in the future, is it because the insurance company is not allowed to use the information, because it is not predictive, or ...
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3answers
176 views

What is voluntary insurance?

I recently came across the term "voluntary long-term disability insurance." I certainly know what disability insurance is, but I've never heard the word "voluntary" attached to it. Wondering if this ...
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2answers
154 views

How do the insurance claims work?

Recently, my friend sold his motorbike and he shipped it using uship to the buyer. My friend took an insurance of $6500 for this shipment. When the bike arrived at the buyers location, the motorbike ...
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1answer
87 views

Which insurance should I use for international shipping?

My cousin is moving back to his home country and he is shipping all his stuff via international shippers. And they provide two types of insurances. They are as follows: All Risk Insurance: Your ...
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2answers
287 views

What options do you have when the at-fault party's claim adjustor is low-balling you?

United States & New York state here. Although the first few paragraphs might make it seem like a legal question, it is not! It's an insurance question, and more specifically, about how to handle a ...
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1answer
107 views

purpose of uninsured/under insured coverage

If one has comprehensive coverage along with Liability ( Bodily and property), so why does one may need uninsured/under insured coverage for vehicle insurance if he already has Collision.
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1answer
92 views

UK Financial Ombudsman - Insurance Complaint

Apologies if this is the wrong 'stack' for this question, I did consider law, but a quick search of stacks showed insurance questions being asked here. I had car insurance, I was hit, they party had ...
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3answers
190 views

Car Insurance Renewal Quote Negotiation

So, once again for the sixth time in a row I have ended up switching car insurer at the end of a 6 month policy term. Every time I received a renewal quote from the insurer I was with which was ...
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1answer
192 views

Is the auto insurance quote I have been provided a rip off?

I just moved to Philadelphia, PA from Houston, TX and wanted to update my auto insurance policy (with Allstate). I gave them a call, and with 1:1 coverage options AND a newly-acquired (ie I did not ...
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1answer
55 views

Understanding Premium increases in Long Term Healthcare policies

Question confined to Long Term Healthcare policies that provide a fixed daily benefit (unrelated to cost of care) over a fixed number of months. In trying to explain why a premium increase (of 50%) ...
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1answer
510 views

Grandmother's MetLife policy showing up as unclaimed property

Last week, a former co-worker encouraged me to search for unclaimed property in Michigan. I've done this before (several years ago) and did not find anything. However, since I changed jobs a few years ...
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1answer
82 views

disability insurance on a car loan

I have a car loan which i am the primary borrower and my daughter is the second . I recently became disabled. The bank put the disability insurance on the loan . My question is will they pay my car ...
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1answer
121 views

Executors distribution

If I am a beneficiary and inherit a property and and insurance policy. Can the executor put a large chunk of the money back into the estate without my consent. There are no debts on the house, just an ...
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1answer
298 views

How to obtain “Negative Equity Insurance” aka “Home Equity Protection” aka “Equity Protection Policy” in the UK?

I'm searching for an insurance policy to protect against negative equity on a residential real-estate. The risk I'm trying to protect against is that house prices will fall. I'm looking for ...
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5answers
493 views

Does COBRA make sense anymore with the ACA?

I recently changed jobs. Job 1 ended in March, and Job 2 started immediately after the end of Job 1. The health insurance provided by Job 1 continued to the end of March. The health insurance coverage ...
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152 views

New mortgage co reversing claim decision by old mortgage co

I had a claim in March of last year due to hail/storm damage. The claim was paid by insurance to me and mortgage co. Then the mortgage co sent all the payments due, out to me in my name and the ...
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Health insurance payment does not match up explanation of benefits. What's going on?

My wife and I utilized the services of a chiropractor who happened to be out of network with my insurance provider (will name in an edit if it is important). My Explanation of Benefits says that out-...
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1answer
315 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 ...
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1answer
74 views

Health insurance coverage for recent immigrant

How does someone obtain health insurance coverage in Washington state as an immigrant.
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36 views

Insurance cost deductions from paycheck

I switched from full-time to per diem status on March 9th. For my paycheck through March 9th they deducted my usual cost for benefits, but then they did the same thing 2 weeks later when I wasn't ...
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2answers
4k views

Net salary in Germany for programmers

I got an offers as a freelancer to work from Germany (the company is not German but I will live in Germany when I'll work for them). Since I'll be a freelancer in need to give them an hourly rate for ...
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1answer
67 views

How to prepare for losing employer-provided insurance in my emergency savings?

I have an emergency fund that covers the next N months of life's expenses: rent, utilities, food, etc. But I recently realized I haven't accounted for insurance that is currently provided by my ...
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1answer
63 views

How to properly tune insurance deductible/excess for risk appetite

We all know you can arrange a higher deductible (USA) or excess (UK) to pay a lower insurance premium. My question is, is there an established method to identify what is the optimal size of ...
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3answers
331 views

Should I use Social Security survivors benefits in calculating the amount of life insurance needed?

I see a question How much life insurance do I need? , but I want to buy least amount of Life Insurance but still cover my kid and spouse up to an extend. We all get annual social security statements ...
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3answers
348 views

Do I need to report a critical health condition years after I signed-up for three insurance companies?

I need help with some simple questions related to insurances that I purchased. I hope that any insurance agent here can answer them, at least briefly. I have not been able to contact the insurance ...
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7answers
9k views

Do I need life insurance if I can cover my own funeral costs?

I'm fairly well off and could cover the cost of a funeral out of personal savings and investments. I'm also single, in my late 20s, and live alone. Unfortunately, my family (parents and siblings) aren'...
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3answers
748 views

Is playing the lottery worth it in the same way that insurance is?

I was reading this question, and it made me wonder - If insurance is worth the expected loss because of the catastrophe that it could prevent, can playing the lottery be worth the expected loss ...
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15answers
19k views

Are small insurances worth it?

Small insurances like phone insurance, tire insurance, etc. Are these worth it? In general I always have a bad gut feeling about any insurance. I just don't like the idea of paying for stuff I never ...
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1answer
2k views

Still enrolled in Medicaid after starting new job

I just started a new job and I am still enrolled in Medicaid officially. Can I still use Medicaid until my new company sponsored health insurance kicks in?

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