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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2
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2answers
226 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
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2answers
424 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
241 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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1answer
184 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 ...
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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 ...
24
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3answers
6k 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 ...
105
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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 ...
1
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1answer
354 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
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1answer
326 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
134 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 ...
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 ...
2
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1answer
88 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 ...
3
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1answer
303 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 ...
4
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1answer
672 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 ...
38
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2answers
14k 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 ...
4
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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, ...
3
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1answer
105 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
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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
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4answers
333 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
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2answers
844 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 ...
1
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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
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1answer
123 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 ...
0
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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,...
1
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1answer
149 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 ...
3
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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 ...
2
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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 ...
5
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1answer
349 views

How do you get insurance for your first car?

I'm buying my first car soon, and I don't currently have any insurance - I'm an independent adult not covered by any parental umbrella insurance, and I need to cover my wife with my insurance as well. ...
1
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1answer
83 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 ...
148
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15answers
33k 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 ...
5
votes
3answers
640 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
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1answer
217 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-...
0
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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 ...
5
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1answer
173 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 ...
4
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1answer
487 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 ~$...
31
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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 ...
3
votes
1answer
117 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,...
2
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2answers
327 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
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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 (...
2
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1answer
450 views

Does PMI (Private Mortgage Insurance) exist for commercial real estate assets? [closed]

Any idea? PMI is used until borrower retains a large enough equity interest in the asset. Do insurance companies offer the same for commercial assets? Help would be HUGE.
18
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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
229 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 ...
4
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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 ...
5
votes
1answer
223 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 ...
34
votes
6answers
30k 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 ...
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, ...
23
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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 ...
2
votes
1answer
241 views

What will be the return amount of Lic New Endowment Plan 814?

I purchased the plan this year (2016). I am paying the premium of 89000 P.A (Approximately inclusive of tax), the policy period of 12 years and my age is 25 years old. What will be the return amount ...
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2answers
239 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 ...
0
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1answer
335 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
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2answers
971 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 ...

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