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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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10
votes
4answers
1k views

What's the reason I can't have insurance with more than one company?

Excuse my pure ignorance on this matter, I barely understand the basics of any insurance. When I first moved to the UK years ago I have been told that I can't have life, health, car, contents ...
2
votes
2answers
1k views

Should I Purchase Health Insurance Through My S-Corp

I currently have an S-Corp, of which I am the only employee. As of this year, I started purchasing my own health insurance through healthcare.gov. In previous years, my wife and I were insured ...
1
vote
1answer
81 views

Is it safe to have pension plans with an insurance company with a strong brand but not-that-good credit rating?

I am looking for a pension plan and as part of my investigation, I am checking the credit ratings of the company(eg Moodys). What I am seeing is that the company is having a Baa2 rating. Though the ...
2
votes
3answers
138 views

Which types of insurances do I need to buy?

I work in a MNC in India and can save up to Rs.10000 per month. My parents and sister are dependent on me. I like to use this 'extra' money to buy insurance for any contingencies. So far, I have a ...
7
votes
2answers
4k views

How can you find out what life insurance a deceased person had?

So it seems like the way life insurance is supposed to work for a deceased person is that the beneficiary is supposed to somehow inform the insurance company of the insureds death (presumably by ...
3
votes
3answers
306 views

How to protect a Stock you still want to own from a downturn?

I have a few stocks on my portfolio that I still like and I still believe I should own. They still meet all my buy signals, so I will still buy them today. However, the stock market is not doing ...
2
votes
1answer
1k views

How do insurance companies calculate cost of replacement, specifically for a bike?

I had my bike stolen from my apartment. My renter's insurance covers "cost of replacement" for my bike. However, my bike was 8 years old and the model is no longer made. Bike costs in general have ...
123
votes
23answers
22k views

Why buy insurance?

I don't understand why people buy insurances when they know that odds are is not their favor. Is it not better bet to stay uninsured, and save money? I am not talking about house insurance. About ...
-1
votes
1answer
53 views

long-term disability question what plan to pick?

At my work I am offered two plans. 1st one is for $55.08 per year pre taxed 60 percent and the 2nd $480.68 per year post tax 65 percent. I am 52. What's the best option?
20
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5answers
33k views

What to do with expired cards (credit, debit, insurance cards, …)

I wonder if it is safe to throw away expired cards (credit cards, debit cards, health insurance cards) with name and card/account/ID number as trash. Even if other people have them, will they be able ...
15
votes
8answers
571 views

Buying insurance (extended warranty or guarantee) on everyday goods / appliances?

I have a practice of never buying insurance except when the law demands, such as car insurance, or when the loss would be too great to bear, such as house insurance, and this policy has saved me a lot ...
3
votes
1answer
497 views

How to dump whole life insurance?

I'm 5 years into my whole life policy with NWM and realizing that its just not a good investment. I've put in about 25k and now have 17k in cash value. I would like to take out that 17k and invest it ...
7
votes
3answers
623 views

How many assets do you need before you should buy an umbrella insurance policy?

I've heard of umbrella policies before and I've seen some questions about them on the site, but I don't know how many assets you need before an umbrella policy is worth it. Does $50K of assets ...
3
votes
0answers
757 views

Change in health care deductible with newborn

My wife has health coverage (different from mine) through her employer. Her deductible is $1300. In May my daughter was born. Until then my wife incurred a lot of expenses and met the deductible. ...
4
votes
1answer
223 views

Claiming loss of income due to water damage in residence

I have been recently required to vacate my residence due to flooding. The ceilings, floors and fittings need to be removed from the bathroom, kitchen and hallway, rendering the property uninhabitable ...
2
votes
2answers
3k views

How does an insurance policy's Six Month Premium work?

So, I'm wondering... How does an insurance policies Six Month Premium work? Say full coverage would cost me $200/month and liability would cost me $100/month, but I decided to get full coverage and ...
5
votes
3answers
561 views

How does visibility of a house from the road or neighbors effect home owners insurance costs?

When applying for home insurance I was asked: Is the house visible from the road? Is the house visible from neighbors' houses? How are the answers to these questions likely to change the ...
6
votes
2answers
878 views

How do I judge if I am being made a fair offer by a car insurance company?

My girlfriend got into an accident with her (registered under my name) 2003 Honda civic. She was pulling out of the drive way (taking a right, basically parallel to the road) and got hit on the ...
1
vote
1answer
85 views

Do we have to pay insurance while on short term disability?

My wife is about to go on short term disability for 3 weeks for maternity leave. Her work is telling her that we need to keep enough money in our account to cover her insurance premiums while she is ...
4
votes
1answer
193 views

Should I car share or buy a car?

I recently got a job that pays 25k€ a year (I get 1.5k€/month after taxes I live in a heavily taxed country). My company will pay me my master's and engineering degree that I begin in september at ...
2
votes
2answers
91 views

Downside to large deposit instead of insurance policy?

On VRBO (and perhaps others) there is an option to either pay $79 for an insurance policy covering $3000 in damage to the property or place a deposit for the same amount: Assuming that... The rental ...
1
vote
1answer
768 views

flex spending when transitioning from full time to perdiem

I am moving from a full time position with health benefits and $2500 in flex spending to a perdiem position. I gave my notice to decrease from full time to perdiem without benefits as of 7/6/15. How ...
0
votes
1answer
89 views

Should I report driving tickets on my international driving permit to insurance companies

I have an international driving permit I got from India for driving into United States. I have 2 tickets on it in US. Now that I have got my own driving permit in US, should I report to insurance ...
2
votes
1answer
715 views

Is my car overinsured if my net worth is high enough?

My net worth is approx. 200k (distributed in checking for emergency, bonds indices for bigger emergency, and stocks for retirement) and I make between 15k-35k per year (it varies). I've been accident-...
6
votes
2answers
10k views

Can my mortgage company force me to buy condo hazard insurance?

I live in the United States and have a mortgage for my condominium. After 10 years under my current policy, I suddenly received a letter from the lender, saying "A review of our records indicates we ...
3
votes
4answers
3k views

Do I need to insure a large check when sending via mail?

My girlfriend has a bank account that is on hold because of a stolen debit card number. She recently signed a contract for 90k but has the first check in my name for 60k. She is stuck in London for a ...
8
votes
3answers
1k views

Does liability auto insurance protect any of your assets?

I'm confused about the Liability auto insurance. Some online resources appear to say that you must have as much liability insurance as the total value of all your assets, whereas others just say to ...
1
vote
0answers
551 views

FHA loan just commenced : Any way to get any of the up-front mortgage insurance back?

Background : I ended up in a nasty situation where my FHA lender had over 7 weeks to prepare, and through indolence, was going to miss closing. Lender became very unresponsive - multiple multi-day ...
0
votes
1answer
275 views

Supplemental Insurance for Martial Arts Students

I would like to know if there are supplemental insurance policies for people who study martial arts (living in the United States). Specifically, I would like to find a policy that covers injuries that ...
1
vote
1answer
307 views

Can I use FSA funds to pay for expenses outside of insurance start period?

I started a new job on February 2, 2015. But my plan year starts on October 1, 2014 and goes until September 30, 2015. I had a doctors visit that I will have to pay completely for because I was not ...
0
votes
0answers
111 views

Depositing an insurance check made out to a foreign ltd into a personal US account

I own a boat which is registered in the BVI's in an Ltd. name. There is no business and thus no bank account for it. I am a U.S. citizen with a regular U.S. bank account. I incurred boat damage and am ...
0
votes
1answer
648 views

Is it normal to pay 100% of the premium on a long-term disability policy from my employer?

An employer offers long-term disability coverage of 60% for both accident and illness. There is a `180 day elimination period. The employer defines disability "as any occupationn" They also require ...
8
votes
1answer
634 views

Claiming against visa rental car insurance

I'm planning on claiming against my visa cards rental car insurance benefit. For an incident using a zip-car. Will this claim affect my credit score or car insurance rates?
9
votes
3answers
3k views

Employer wants a key man insurance policy on me, should I agree?

Friend is working for a small company as main person in charge of operations. The president is asking them to take out a key man life insurance policy on them. The benefit would pay out to the company....
4
votes
1answer
275 views

What type of insurance would protect you against the Amazon 1p bug?

After seeing many hobby and small businesses losing thousands of pounds due to a software bug pricing their products at 1p on Amazon I've been wondering. Is there a type of insurance that a hobby ...
3
votes
2answers
77 views

Can I enroll in FSA after losing coverage due to my father losing his job?

I am being allowed by my employer to enroll in a Health Insurance plan outside of the open enrollment period or new hire period due to an Involuntary Loss of Coverage (my father lost his job and I was ...
2
votes
1answer
2k views

Health Savings Account Insurance Reimbursement

I have an HSA for my HDHP to which I contribute the maximum IRS allowed pre-tax amount every year to save up for future medical expenses. Last year (2014), I had my wisdom teeth removed, and the cost ...
12
votes
2answers
466 views

What will the penalties be for someone without insurance after Affordable Care Act takes effect?

If I currently don't have health insurance will I have to buy a plan? If I do not what will the penalties be?
0
votes
1answer
96 views

Weird charge in insurance plan [Netherlands]

I've been living in the Netherlands as a student, since August, and the health insurance I had up to about a month ago was the European Health Insurance Card. However, at the end of December, I had to ...
2
votes
1answer
2k views

What is bespoke insurance?

A business summary describes an insurance company: "... it provides insurance products that cover war and political risks that include kidnap and ransom, political risks, political violence and ...
1
vote
2answers
234 views

Given advice “buy term insurance and invest the rest”, how should one “invest the rest”?

It is often recommended that people buy term insurance for a lower premium cost, and invest the rest of the money. It is said that the returns from your own investment are higher than the ones from ...
20
votes
5answers
2k views

Why should I invest my money in a life insurance policy?

As i am 24 now i get lot of calls from lot of insurance companies asking to take up an insurance policy.... So i decided to get answers for some of my questions in basicallymoney... Why should i ...
6
votes
1answer
2k views

Retroactive COBRA Premium Increase: Can my COBRA health insurance premiums be hiked retroactively?

I hope this is the right place to ask this, but if not let me know and I'll go away. About 6 months ago I left a W-2 position to do independent consulting. Since then, I have been using my previous ...
9
votes
1answer
1k views

Trip Interruption insurance vs. Trip Cancellation insurance: what's the difference?

My credit card says they offer trip interruption insurance as a benefit. I am only familiar with trip cancellation insurance. Are these the same or different?
0
votes
2answers
3k views

How long does a business have to give a refund?

My dentist's office requires payment upfront, and then they wait to get paid by the insurance. On Yelp, people say that it takes a lot of sweat and tears to get a refund from them. (In my case the ...
3
votes
1answer
327 views

Insurance Copay requirement when paying 100% deductible

I have health insurance with a $500 deductible. If I go to the doctor and the bill is for example $400, I am required to pay the $400 and a $10 copay by the insurance company. Can insurance companies ...
1
vote
2answers
265 views

Life Insurance Policy for my Dad

My dad want me to get a life insurance policy on him. I have no clue where to start or even what type of questions to ask. What are the positives and negatives of buying a policy. Is it a sound ...
3
votes
1answer
45 views

What is the added advantage of a broker being a member of NFA in addition to IIROC

If my broker is a member of the national futures association, what extra protection does it give me over the fact that it is also a member of IIROC? I am particularly referring to this: http://www....
17
votes
3answers
989 views

Does the following kind of retirement product exist?

Say I am 65 and want to retire and I have saved up $1 million over my lifetime. I also want to use this money up before I die because I have no heirs. Let's say the average life span of humans is 85 ...
0
votes
1answer
89 views

How does agreed value insurance work with inflation?

In an agreed value insurance plan I understand that the number X is the amount that will be paid out upon loss. However I have two questions in regard to this: Upon renewing my policy yearly am I ...