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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4
votes
3answers
469 views

Why can you not have more than one car or homeowners insurance policy?

It is not only possible, but often encouraged to have more than one life insurance policy (for example, the first term policy you have, plus a new one as your financial needs have changed, plus one at ...
5
votes
1answer
832 views

Why do people divide their liability coverage into primary and excess?

I sometimes hear that someone has "$300,000 of primary coverage and $1,000,000 of excess coverage." Why do they not just purchase $1,000,000 of primary coverage? What is being gained by splitting the ...
3
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1answer
87 views

Does my life insurance company have to tell me the interest rate for borrowing on my cash value before I process the loan?

I have a permanent (whole life) insurance policy. I want to take out a loan on my cash value, so I called the company to get information. The company representative told me that they would give me ...
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1answer
4k views

Can corporate insurance coverage continue even after resigning?

While working at a company in India, I was covered by a corporate insurance policy. Also, I was asked to pay the annual premium for including my parents to the policy. In December, I had to resign ...
10
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2answers
1k views

Can mortgage insurance replace PMI?

I recently bought my first house, and admittedly have no idea what I'm doing when it comes to home financing. I did not put down 20% so I have to have PMI until I pay off the principal up to 20%. ...
2
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0answers
103 views

Sane master insurance policy for two-unit condo association

I live in a two-unit condo building (conversion from old house) in Massachusetts, and both units are owner occupied. Our master insurance policy for the condo reads like it is meant for a large condo ...
2
votes
1answer
91 views

How do I buy bundled insurance policies?

I currently have separate policies for home, auto, and term life insurance with three separate companies. I've read in multiple finance Websites that I should consider whether bundling policies with a ...
5
votes
3answers
46k views

What is the difference between Health, Medical and Life Insurance (India) and Which one I should take my self and which one for my wife?

What is the difference between Health, Medical and Life Insurance (India) and Which one I should take my self and which one for my wife? I want to take insurance for safety + tax saving purpose. What ...
153
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15answers
37k views

For very high-net worth individuals, does it make sense to not have insurance?

Various types of insurance (health, car, life) protect you from relatively low probability but very expensive events in life (cancer, serious car accident, etc.) For the average person, it makes sense ...
-1
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1answer
88 views

Estimated car insurance cost without personal information [closed]

What are the best websites for estimating car insurance price without leaving personal information?
5
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1answer
265 views

Finding problems with house after purchase

We recently bought a house in Nebraska, USA. I am British and this was my first experience of the US home buying process (and I hope my last!). I am hoping for some guidance as to whether either the ...
5
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2answers
415 views

My dentist sent a forged bill to my insurance (California, US)

I had an appointment with my dentist and they gave me a receipt with a total amount $409.00 for the services. Then they claimed $985.00 from my insurance. Insurance paid $750.00. They didn't ask me ...
67
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7answers
18k views

1 year old car is dead, called the car dealer they can fix it only if I can bring it, what should I do?

I have a new Toyota Prius (2017 model), bought between 12-13 months ago. The car recently has gone totally mad (Ironically 1 week after the service). So I arranged a booking to get it checked out, ...
8
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4answers
15k views

“$100 Copay before deductible/40% Coinsurance after deductible”

I'm shopping for health insurance. (U.S., federal exchange, I'll be losing COBRA which is a qualifying life event.) One of the plans describes its emergency room costs as: $100 Copay before ...
5
votes
1answer
140 views

Insurance company incorrectly paid for several visits now rejects

My insurance company has been accepting and paying claims for several months and suddenly the identical billing code was rejected recently. I called the insurance company to find out why the claim was ...
5
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1answer
123 views

How can I argue for a higher motorcycle write-off value?

I was in an accident in June, other driver at fault. I had only liability coverage, so I've had to deal with his insurance directly. The bike was towed to a dealership and a week or so later I got a ...
7
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1answer
2k views

Is accident insurance worth it for my kids who play sports

I'm evaluating options at my job for insurance and an optional insurance offering is accident insurance. I'm looking at this for my kids who play sports in school and on club teams. It's $170 a year....
8
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3answers
517 views

Could my insurance company be giving my healthcare providers kickbacks?

This may seems like a far-fetched conspiracy theory, but this has happened to me twice now... Scenario goes like this: My insurance policy covers X but not Y (or X has a lower deductible than Y). I ...
3
votes
1answer
276 views

Mortgage Company Holding insurance premium payment til repairs made

I am 70 years old and not in good health and do not know what to do to get my problem solved. My home was damaged by Hurricane Irma Damage estimate: $7500 My deductible was high: $13,200 So I ...
13
votes
3answers
7k views

Why does my car insurance premium go up when I remove my wife?

I was messing around with my car insurance policy to see if I could get my premium to go down a little bit, so I was just curious; How much is my wife making my premium go up? As it stood, my ...
34
votes
6answers
32k 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 ...
5
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1answer
1k 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
232 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
534 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
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4answers
250 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 ...
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0answers
110 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
213 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 ...
40
votes
9answers
24k 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 ...
104
votes
13answers
18k 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
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2answers
571 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
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1answer
367 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
327 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
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1answer
137 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
925 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
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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
324 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 ...
13
votes
2answers
1k 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
16k 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
94 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
108 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
339 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 ...
7
votes
2answers
895 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
717 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
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1answer
80 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
131 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
183 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
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1answer
95 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
144 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,...

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