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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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5
votes
3answers
625 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
215 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
483 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
167 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
113 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
304 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
103 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
225 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 ...
120
votes
12answers
36k views

Tenant claims they paid rent in cash and that it was stolen from a mailbox. What should I do?

I own a duplex, live in half, and rent out the other half to college students. I have just made a mistake that cost me $750. One of my tenants was late paying her rent. I'd thought it was still late, ...
5
votes
1answer
222 views

Is the risk premium with insurance higher or lower than investments?

Insurance of any kind is always going to have a lower expected value than self-insuring. If there's a 10% chance of a loss of ₹100 occurring, insurance companies will charge more than ₹10, to cover ...
1
vote
4answers
289 views

How to negotiate cheaper car insurance?

I'm a new driver and I've been paying about £70 per month on my insurance which makes sense given my position. I obtained a new quote from the same insurance company and the price was £50 per month. ...
23
votes
7answers
10k views

If I let a friend drive my car for a day should I tell my insurance company?

If you have a friend visiting from out of state and you let them drive your car to a museum or something, as a one-off thing, I think it's a little impractical to let your insurance provider know that ...
1
vote
0answers
67 views

What does the acquisition fee in a unit-linked insurance plan pay for?

In my experience, 100% of the premium for a Unit-Linked Insurance Plan goes to something called an acquisition fee. Different insurance sellers appear to explain it differently: The least ...
3
votes
2answers
180 views

Tips for insurance coverage for one-man-teams

I'm a solo software developer and would like to find some reasonable health insurance for myself. My wife has a job which allows me an opportunity to participate in her insurance group, but it is a ...
1
vote
2answers
225 views

Renters Liability in Case of Liability Claims for Property Damage or Fire

I am subleasing a room in a house in San Francisco. The landlord does not turn on the central heater ever, so I am running my space heater occasionally. In case of the unlikely event of a fire being ...
3
votes
2answers
349 views

How to get individual long-term disability insurance when you already have a group LTD plan with your employer?

I am a tech worker. My employer offers group LTD that covers 60% of my salary? I went out in the market to get an individual policy but my agent cannot find a company who will underwrite a policy with ...
0
votes
1answer
294 views

Does WageWorks / FSA verify your claim submissions with your health provider?

I underwent a medically necessary treatment with my healthcare provider as soon as my insurance went into effect for the current period, and paid via an FSA card. Shortly after, I was required to ...
2
votes
2answers
872 views

Am I formally insured during the COBRA election period if I ultimately choose not to elect coverage?

I have recently quit my job to freelance and I am now in a position where my old health insurance ends on 8/31, but my new health insurance can only begin as soon as 10/01. However, until 10/31, I can ...
8
votes
3answers
499 views

Does the cost of long-term care insurance depend on your health?

I'm 50, living in California, planning to retire early at 60, and am trying to do projections of to make sure my wife and I have enough money so that I can do this. I think I have most of the ...
12
votes
5answers
2k views

What's the difference between Term and Whole Life insurance?

How would one decide which is most appropriate? Are there tax or benefits differences that one offers over the other?
3
votes
5answers
2k views

Is it better to pay an insurance deductible, or get an upgrade?

My wife's phone broke recently, and we called in to our phone's insurance program to ask for help. The program is offering to replace the phone, at a $149 dollar deductible! The payoff balance ...
1
vote
1answer
59 views

Evaluating an endowment policy for its fairness against other tax saving options in India such as PPF, EPF and even FDs

I am talking about specific endowment policy: Jeevan Anand. Firstly, there was old Jevaan Anand (Plan 149). And now there is new Jeevan Anand (plan 815). I had old Jeevan Anand policy. It is endowment ...
-1
votes
1answer
62 views

Can a stable value fund contain equities?

Can a stable value fund legally contain equities? I understand that the insurance premiums would be very high, and because most stable value funds are provided by insurance companies it would be ...
9
votes
3answers
89k views

What is the difference between pre-tax and post-tax paycheck deductions?

I am getting insurance for about 4 months, the length of my contract with a company. I am given the option of having the cost deducted from my paycheck pre-tax or post-tax. What is the difference? ...
4
votes
1answer
253 views

Do I need to have a formal rental contract to get renters insurance?

My girlfriend is going to college for the next 4 years and her parents just bought her a condo to stay in while she is at school. I will be staying in it with her, and there is a room for her parents ...
1
vote
0answers
40 views

Insurance for car rental [duplicate]

I'm trying to find the best way to have a good insurance coverage when renting a car without a credit card or car insurance. Here is my situation: I've arrived 6 months ago in the US, and am ...
3
votes
1answer
1k views

What is the difference between Uninsured Peril and Excluded Peril

I was reading up on past Charted Institute Insurance (CII) Exam papers and I came across the following question 1) Insured Perils 2) Uninsured Perils 3) Excluded Perils In my opinion, ...
4
votes
2answers
633 views

Getting Earthquake Insurance on a new Mortgage

I live in the bay area, CA where there are many earthquakes. I was recently reading: http://blog.petetheplanner.com/financially-what-happens-when-your-house-burns-down/ which stated that your home ...
4
votes
1answer
700 views

How to recover value from a term life insurance policy?

This happened in Canada. A person has a life insurance policy that matures in 2024 (in 9 years) and he has been paying monthly premium since 1996 (for 19 years). He lost his job and is not able to ...
1
vote
1answer
151 views

Auto insurance medical expense payments

My auto insurance offers an option for 'Medical Expense Payments' which says it: Pays medical expenses such as surgery, x-rays, ambulance, and physicians, regardless of who was at fault. I ...
3
votes
3answers
356 views

Does it make sense to look for medical plans outside “Obamacare”?

Does it make sense to look for medical plans outside of the ACA Exchanges (such as the https://calheers.ca.gov/ in California), or are those as good as it gets? If it's illegal for the insurer to ...
1
vote
1answer
62 views

Term insurance or Pension plan?

5 years back when I was single and needed an investment to reduce tax liability, I bought a life insurance policy. The cover is 10,00000 INR but it has a money back option which pays 100000 INR, every ...
3
votes
1answer
2k views

Is robinhood backed up by an insurance company

Robinhood is a mobile broker that charges $0 commission, but because it's unclear how their business model makes money, I have read a lot of skeptical threads about it.... My question is that is this ...
0
votes
1answer
85 views

Auto liability insurance and underinsured policy

I live in MA. Recently I was in an accident where the over driver was at-fault 100% and is not contesting this. I was moderately injured and had several dr appoints and tests for broken ribs and being ...
2
votes
1answer
170 views

Condo hazard insurance — who takes the next step? Everyone else is refusing

I live in California. The bank (in Atlanta) who has our home loan needs to see proof of our condo master hazard insurance policy or they will buy us a policy. The agent who sold the policy told me ...
3
votes
1answer
207 views

How do I minimize my risk when loaning someone my car?

My wife and I recently had a third child, so we bought a minivan to replace her compact car. Since the car is over 10 years old with almost 150K miles, we know it won't bring us much money, so there ...
26
votes
8answers
7k views

Why do people take out life insurance on their children? Should I take out a policy on my child?

I've always found those flyers that the schools send home in September contemptible. But maybe I'm the one in the dark...? If the purpose of life insurance is to replace a wage-earner's income in ...
6
votes
2answers
106 views

Deposited a 1m Life Ins. benefit check to WF. Do you foresee any issue dividing it up in 1/4?

Deposited a 1m Life Ins. benefit check to Wells Fargo. Do you foresee any issue dividing it up in 1/4 by opening three other accounts and either writing a check or wire to move? Concerned with any ...
9
votes
4answers
245 views

How to take a home inventory?

An answer to the question Spring cleaning for your finances? Is there any activity that should be done annually, with respect to your money? mentioned home inventory: The Inventory is also very ...
7
votes
1answer
204 views

Buying a home, it appraised higher than the purchase price, does this affect mortgage insurance?

I'm kind of curious, does the fact that my home appraised higher affect mortgage insurance payment at all? It appraised for about 2% higher than I'm paying for it, and it'd be nice to remove a year of ...
0
votes
1answer
1k views

What is Loss Assessment Coverage?

I am buying a condo and looking for condo unitowners insurance (HO6 policy). What is Loss Assessment coverage? Can I use it to pay any special assessments imposed by HOA e.g., when they have to do ...
2
votes
1answer
173 views

Contribution Principle for Insurance

I was reading up on Contribution Principle of Insurance when I came across the following example used to explain the concept In the homeowner example, if the owner bought two $250,000 policies on ...
1
vote
1answer
345 views

Do you need to have insurance on an unused car?

I'm buying a car and garaging it until I can fix it. Do I need to have insurance on it to be able to register it (so I won't get fined for not registering it) or can I just register it like that since ...