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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33
votes
6answers
28k views

The mortgage company is trying to force us to make repairs after an insurance claim

We had some hail damage to our roof and deck after a bad storm and made a claim with our insurance company. The damage was in the 5 figure range, but the estimate for the deck was only a couple of ...
2
votes
1answer
37 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
866 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 ...
2
votes
2answers
223 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
359 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 ...
-4
votes
4answers
222 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
0answers
108 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 ...
1
vote
1answer
125 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 ...
39
votes
9answers
21k views

Insurance company sent me huge check instead of pharmacy. Now what?

I received a $20,000 check from my insurance company that was supposed to go to my specialty pharmacy. It's made out to me. Since it was obviously a mistake, I called the pharmacy, and they said to ...
24
votes
3answers
5k 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 ...
4
votes
4answers
2k views

How does on-demand insurance company Trov prevent insurance fraud or high prices?

There is an insurance/tech start-up called Trov. Their mobile platform allows you to add your possessions to your inventory. (For example, by importing billing info directly from your e-mail) Then, ...
11
votes
2answers
561 views

When is an event worth insuring against?

Inspired by another question, what factors should generally be considered when deciding whether or not to insure yourself against events with a financial impact? The linked answer makes mention of ...
1
vote
1answer
348 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
322 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 ...
4
votes
1answer
128 views

Is insurance compensation for lost wages taxable (in the U.S.)?

Recently I was involved in an automobile accident. I missed some time from work and now have to take time off to go to physical therapy. Injury coverage from the auto insurance is compensating me for ...
4
votes
1answer
499 views

Car Insurance: Driving Experience from Another Country

The background: I am from Lithuania originally. I got my driving license there and been driving for 5 years. I then moved to the United Kingdom. First thing I did is changed my Lithuanian driving ...
20
votes
2answers
3k views

Was my insurance technically cancelled?

A few weeks ago I received a cancellation notice effective two weeks from then for my home insurance because of a single occurrence of a lack of funds. I immediately paid the balance due and had the ...
3
votes
1answer
287 views

Should I carry less renter's insurance if I can self-insure?

I carry the minimum amount ($10,000 coverage for possessions) of renter's insurance my landlord requires (due to the $100,000 of personal liability coverage that comes with it). Every expert resource ...
12
votes
2answers
863 views

How does a tuition insurance payment affect 529 withdrawals?

Qualified college tuition and expenses were paid from a 529 plan in 2014. The school sent a 1098-T and the 529 plan sent a 1099-Q and everything was fine on my 2014 taxes. In 2015 my child has left ...
38
votes
2answers
13k views

Car insurance (UK) excludes commute to and from work, will not pay on claim during non-commute

My girlfriend was recently involved in a crash where both parties are claiming it was not their fault. She took out a policy with an insurance company called GoSkippy whose brokers are Eldon ...
3
votes
1answer
93 views

Health insurance for months not in the US?

I was in the US from 2010 - July, 2016, and had health insurance all the time. In August, 2016, I moved back to my home country for good - but technically I still count as a resident alien for 2016 in ...
3
votes
1answer
101 views

Does shopping for car insurance affect credit ratings?

Out of curiosity, does shopping for car insurance play a role in credit ratings? For example, do they pull your credit when creating a quote? The reason I ask is I know when I left my parents' ...
3
votes
1answer
1k views

Under the Affordable Care Act, do I get penalized if my dependents don't have insurance for the time they are not in the US?

I got health insurance for my wife and son. They are traveling to India for 3 months. If I cancel their insurance coverage, and apply for insurance once they came back in October, will I get a ...
5
votes
4answers
294 views

Does this very cheap traveller insurance make any sense?

A local railway company partners with an insurance company and offers insurance policies as paid addition to railway tickets. A random monthly salary in this region is an equivalent of seven hundred ...
6
votes
2answers
606 views

Why would a life insurance exclude suicide for the first two years of policy duration only?

I'm currently reading terms for life insurance with survival benefit and investment. It's like you pay ten thousand USD each year and five years later you get back forty thousand USD (the four ...
8
votes
4answers
634 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?
1
vote
1answer
77 views

Can moving overseas invalidate travel insurance?

I'm currently covered by a family travel insurance policy which was taken out 2months before I moved abroad to the Netherlands of which I'm not a registered resident. I'm still a UK & Irish ...
0
votes
1answer
121 views

How likely is it for my Medicaid plan to approve a Prior Authorization?

I just enrolled in Medicaid, specifically the UnitedHealthCare Community Plan in New Jersey. Now most of the medications I'm currently taking are included in the Preferred Drug List, but there are a ...
5
votes
1answer
165 views

What home insurance policy riders does the average person buy?

While researching home insurance policies I found myself wondering how often other home owners purchase certain policy riders, such as water backup and sump overflow protection. Are there any ...
0
votes
1answer
93 views

What is the normal rate of increase for automotive insurance premium costs?

Assuming no change in driving status (i.e. no additional accidents / issues) what is the normal expected rate of increase in insurance cost for my automobile? The obvious answer would seem to be the ...
0
votes
1answer
140 views

My wife and I work for same employer. What are our options for health insurance?

My wife and I work for the same employer (a school district). My school offers full single coverage or $14,000 towards family coverage. A single policy costs $12,000, and a family plan costs $28,...
1
vote
1answer
142 views

Money received for water damage in ceiling caused by leaky roof

My ceiling was very damaged by leak in roof caused by leaky solar panel. They instructed me to get mitigation estimate and repair estimates. Sent to insurance company and they paid. My husband ...
2
votes
2answers
205 views

Why do only motor insurers employ “No Claims Discounts”?

I was looking through my home, business and motor insurance policy and realised that only motor insurers employ "No Claims Discount". I was just wondering why "No Claims Discount" is unique to motor ...
1
vote
1answer
81 views

Insurance with home loan

I had taken a home loan from axis bank and it is disbursed on 22-3-2017. I got demand draft and I given it to builder. During the loan process bank employee asked me to purchase a property ...
5
votes
3answers
607 views

Mortgage company withholding insurance proceeds

We recently lost our home due to fire and smoke damages. Our insurance company has estimated the replacement cost to be $161,000.00. The mortgage company has released $40,000.00 (the maximum amount ...
2
votes
1answer
206 views

Is lemonade insurance a de-facto mutual insurance company? [closed]

Lemonade insurance is a startup that markets itself as the first P2P insurance company, which totally eliminates the need of brokerage service. Are they (and a general P2P insurance organization) a de-...
31
votes
6answers
5k views

Auto premium increasing with aging vehicle and no new tickets

I have just received a new auto insurance bill for the next six months for my comprehensive insurance. It is about 8% higher than the previous six months whereas I have had no new moving infractions ...
4
votes
1answer
474 views

Is it cheaper to use car Insurance or pay out of pocket?

My wife recently side swiped a building with our car. We know the building owners and they don't seem to be worried about any damage. A friend in the car body work business suggested it would be ~$...
3
votes
2answers
164 views

Insurance coverage for a difficult to find vehicle

How will a claim and potential lawsuit go for a vehicle which is only booked on Nada at $17k high retail, but would cost $25k - $35k or more to find a replacement in average condition/poor condition? ...
3
votes
1answer
112 views

Personal health insurance vs. Employees group insurance

I am having a dilemma on what action I should take with regards to my insurance plans. I am working for a company which provides employee group insurance (group plan) as my employee's benefit. However,...
27
votes
5answers
3k views

How can life insurance possibly work as investment?

Every here and there I hear about the following investment option: There's an insurance company that is willing to take my money and hold it for some very long time (like 5 years or more) and then ...
2
votes
2answers
296 views

What is the Difference between Life Insurance and ULIP?

I have invested in a ULIP insurance plan. My premium term is 5 years lock-in period and the premium will be deducted from taxable income under 80C section. For example if I invest Rupees 1 lakh each ...
1
vote
1answer
102 views

Is it possible to get insurance for my investments?

Would like to know whether it is possible to get insurance for my investments?. I am looking for insurance against defaults on investments in corporate fixed deposits and non-convertible debentures (...
0
votes
1answer
70 views

Child Insurance Policy-if proposer is missing

I have taken an insurance policy for my son, which is having premium waiver rider in case of my death or disability...Just wants to know what will happen..if I along with my husband gets missing..
18
votes
2answers
4k views

Insuring a girlfriend's motorcycle

My girlfriend has a motorcycle that she bought a few months ago with a loan (she put down $2k and now her payments are ~$82 a month). A few months later, she realized that she cannot keep the bike ...
3
votes
1answer
220 views

ER Physician did not bill health insurance

This is a little more than just the ER Physician not billing insurance. I ran my credit report in June and realized that a collection agency has a bill on there from 2012, that they just reported in ...
1
vote
1answer
111 views

Query about Personal Accident cover

I work in a MNC in India. I have a query about Personal Accident cover. I read in a ET article as 'cheap and essential'. When I asked around about this with few individuals, they advised to buy add-...
3
votes
1answer
2k 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 ...
4
votes
1answer
1k views

Made big mistake with my health insurance plan; can it be changed?

Recently, my company changed its health insurance providers or something like that. Basically, the company that we would be receiving our health insurance through changed. At this point as I sit ...