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.

Filter by
Sorted by
Tagged with
3 votes
3 answers

Do I need to report a critical health condition years after I signed-up for three insurance companies?

I need help with some simple questions related to insurances that I purchased. I hope that any insurance agent here can answer them, at least briefly. I have not been able to contact the insurance ...
irishpatrick's user avatar
31 votes
7 answers

Do I need life insurance if I can cover my own funeral costs?

I'm fairly well off and could cover the cost of a funeral out of personal savings and investments. I'm also single, in my late 20s, and live alone. Unfortunately, my family (parents and siblings) aren'...
Steve's user avatar
  • 311
6 votes
5 answers

Is playing the lottery worth it in the same way that insurance is?

I was reading this question, and it made me wonder - If insurance is worth the expected loss because of the catastrophe that it could prevent, can playing the lottery be worth the expected loss ...
Andrew's user avatar
  • 61
79 votes
15 answers

Are small insurances worth it?

Small insurances like phone insurance, tire insurance, etc. Are these worth it? In general I always have a bad gut feeling about any insurance. I just don't like the idea of paying for stuff I never ...
Paul Kruger's user avatar
1 vote
2 answers

Still enrolled in Medicaid after starting new job

I just started a new job and I am still enrolled in Medicaid officially. Can I still use Medicaid until my new company sponsored health insurance kicks in?
bobby's user avatar
  • 11
1 vote
1 answer

Requirement to purchase Collision Damage Waiver for car hire excess coverage

I recently took out a car hire excess reimbursement policy from a reputable third party insurance company (AIG). The policy states that CDW is required in order to receive reimbursement for a claim. ...
hhbilly's user avatar
  • 111
0 votes
0 answers

car insurance claim, police report, minor damage and carfax

I parked my brand-new car on the street at night and woke up next morning to find out that someone, perhaps on the bike has hit it and the side mirror cover is off. The small dent on the side of the ...
cleanplay's user avatar
  • 113
4 votes
2 answers

Gambling as geopolitical insurance

I am a British citizen living in Germany. I do not know the odds of any particular outcome of Brexit (and I'm not sure how to calculate any odds, as I don't have any relevant expertise in politics or ...
BenRW's user avatar
  • 165
15 votes
4 answers

What are the practical implications of buying a house in a high Earthquake risk area?

I am purchasing a house in Indio California, that is described as being in an high risk Earthquake area. That sounds scary but the actual stats for the area are less so: Nearest Earthquake: 2.9 ...
fluffykittycute's user avatar
0 votes
1 answer

Should I continue with ULIP

I am from India. I have a ULIP (Unit Linked Insurance Plan) worth Rs 75000 per year which I started in June 2018. The plan is for 10 years and I have already paid for 1 year. I bought this to get a ...
onkar's user avatar
  • 261
0 votes
0 answers

Insurance CoInsurance company discloses financial claim information to the doctor office without consent, resulting in debt harassment

My Mother's insurance requires her to pay all doctor office fees upfront and then file an individual claim for reimbursement. Is it illegal for an insurance company to disclose financial claim ...
user81460's user avatar
2 votes
1 answer

Can I pay off mortgage in full to keep my insurance claim check?

I've received an insurance claim check due to water damage in our house and the check was made in my name as well as my mortgage company's name. We believe that we can do the necessary repairs for ...
Aj Hawshuk's user avatar
62 votes
6 answers

Why does Geico ask me not to reveal the limits of my liability coverage in case of a car accident?

I read on my "Evidence of Liability Insurance card" issued by Geico in California, US: What to do at the time of an accident: […] Do not reveal the limits of your liability coverage to anyone. Why ...
Franck Dernoncourt's user avatar
1 vote
0 answers

How do the ultra rich protect their money? [duplicate]

FDIC insures each account up to $250,000. A few billion / 250,000 = way too many bank accounts. So how do the ultra rich insure their fortunes?
Ken - Enough about Monica's user avatar
0 votes
1 answer

Insurance premiums as an investment opportunity

Here is the scenario: Let's say you are an insurance company and you pool premiums from policyholders in pools of different risk (low, medium, high). Now you want to propose to other people to stake ...
Cyzanfar's user avatar
  • 103
4 votes
0 answers

Why do some travel insurances exclude country of citizenship?

It seems that it is common practice among many (but not all) travel insurance companies to exclude country(ies) whose citizenship the traveler possesses (even if the traveler does not live in his ...
Attilio's user avatar
  • 143
1 vote
1 answer

Do typical auto insurance policies pay attorney fees directly, or only reimburse for them?

How are lawyers paid by insurance companies in the case of a lawsuit? In other words, let's say that an insured motorist is sued for personal injury. Does the motorist's insurance company engage and ...
Five Bagger's user avatar
  • 9,755
6 votes
2 answers

How to get liability insurance for an electric kick scooter in California?

I just purchased a Segway Ninebot ES4 electric kick scooter. I'm from the Netherlands but live in the United States (California). I have a global liability insurance but it excludes motorized ...
Tom's user avatar
  • 307
1 vote
0 answers

How does my current insurance work?

Sorry for the vague title, in case location matters this is done in Europe, Austria. And all of this was handled by the same agent. I will first write down what this is about and then ask the ...
Vajura's user avatar
  • 145
0 votes
1 answer

HSA Distribution Reversal Challenges

I had been paying out of network dental providers the full amount on day of service with my Cigna HSA debit card. Then I received checks for the part insurance covers and deposited those in my bank ...
Scott F's user avatar
0 votes
1 answer

How to estimate specific insurance benefits?

I pay for a private occupational disablement insurance plan. This is on the first look a good thing from my point of view, because 25% of all employees encounter a disablement preventing them to ...
Ariser's user avatar
  • 119
2 votes
2 answers

What are things to look for when buying home insurance?

Rolling around to another insurance renewal period on my homeowner's policy. Aside from the premium and deductible (lower is better) and the coverage level (higher is better), what are the ...
Derek_6424246's user avatar
3 votes
1 answer

Insurance Producers and Church Tithe

Getting ready to sit for my examinations and these questions popped into my head. Curious about the nuances of illegal inducement in these circumstances. I know there are issues with gifts greater ...
Mathguy0914's user avatar
1 vote
1 answer

Business Bank Account vs Personal Bank Account

What is the best practice when opening up a business bank account for a business that I anticipate to be worth more than $250,000. Does the FDIC insure amounts more than this for business accounts? Or ...
Cody Rutscher's user avatar
1 vote
1 answer

Why isn't auto insurance included in DTI

The debt-to-income ratio includes monthly payments such as your mortgage, car payments, student loan repayments, and child support. However, it doesn't include payments such as auto insurance. I ...
MarioS's user avatar
  • 44
3 votes
2 answers

What would happen if something were insured twice? [duplicate]

This is purely hypothetical and I'm not sure how it would work. Let's say that I own a house and I insured the building and its contents. Then I contacted another insurance company and I insured the ...
AJFaraday's user avatar
  • 589
4 votes
2 answers

Is it advised to minimize life insurance cover as investments grows over the time?

I am investing for retirement. I have covered myself with term/life insurance. I understand importance of insurance; that is not what I am asking here. Premiums paid for insurance are expense. ...
Aastik's user avatar
  • 727
0 votes
4 answers

Are there any statutes of limitations on insurance claims?

I damaged my car a year and a half ago, and at the time I was mad and embarrassed at my mistake to the point that I just ignored it ever happened, even though I have full insurance on the vehicle (no ...
Brimby's user avatar
  • 267
0 votes
2 answers

Are you covered if homeowners insurance policy information is incorrect?

I'm wondering if an insurance company could deny my coverage if a disaster happens and, after the fact, they determine that information I supplied when signing up turns out to be inaccurate. For ...
painter48179's user avatar
  • 2,751
0 votes
4 answers

Is buying a powerful motorcycle on loan is a good idea?

I am thinking of purchasing a Ducati motorcycle. Its price, including taxes, is about $22K. I don’t own a car so I have no car payments. I had a $50k education loan which I paid off. I have about $...
ShellZero's user avatar
  • 129
5 votes
3 answers

Claim Money to upgrade

I received money to replace my gutter but not my downspouts, I received money for painting so my downspouts and gutters match. Can I use that money to put towards downspouts instead and just pay the ...
Cathy S's user avatar
  • 59
46 votes
7 answers

Is life insurance a financially sound safety net?

I'm the sole provider of a household of two - myself and my wife. I make enough to keep us both afloat, with a sizeable chunk of luxury on the side. For practical numbers, I am a month away from ...
Zibbobz's user avatar
  • 4,348
3 votes
0 answers

Would renters insurance cover this scenario?

This is US based. I have renters insurance and the coverage overview is as follows: Personal Property Loss of Use Personal Liability Medical. I have read my policy, but I do not believe the ...
paulj's user avatar
  • 1,111
3 votes
2 answers

Home Insurance companies and underwritten policies

I am in porcess to buy a home in San Diego. As it has been covered relentlessly in the news lately, it is not a secret that Southern California is very prone to fires. Now, I am shopping around for ...
Lost's user avatar
  • 1,601
0 votes
3 answers

Should I get a release of liability statement before paying for damages?

A sink in my condominium overflowed without me realizing it, and water went into my neighbor's condo, below me. There's damage to her drywall, and I agreed to pay to have it replaced. I received ...
Grafica's user avatar
  • 103
2 votes
1 answer

Portfolio insurance

I am thinking about betting the house, rather than the car, and will essentially pour all my entire net worth into the market. I am trying to find a way to protect myself against a major crash. I am ...
Source's user avatar
  • 149
2 votes
0 answers

how do you compare a private earthquake insurance company to using CEA in California

Regarding getting earthquake insurance in California, how can I compare a private earthquake insurance company (like geovera) to using CEA (California Earthquake Authority) in California. I have ...
piton's user avatar
  • 489
4 votes
2 answers

Mortgage Adviser Signed Me Up For Multiple Home and Life Insurances (UK)

So, back in 2016 we bought our home with the help of a mortgage adviser. During the process they signed us up for home insurance and life insurance. At the time I (perhaps stupidly) believed they ...
John C's user avatar
  • 143
5 votes
2 answers

How to determine the right level of disability insurance based on a person's lifestyle

I'm trying to determine what level of disability insurance is right for me. A thought crossed my mind: certain people experience less risk of disability. A person who works from home is at less risk ...
nlambert's user avatar
0 votes
0 answers

I am being offered whole life insurance with a savings account. Should I take it?

I am being offered a savings account with a Whole life Insurance policy. I believe it is 100,000 policy for $30 a month. However, half of this goes to a savings account with a 4% "compound interest."...
user1833028's user avatar
3 votes
3 answers

What happens to those huge company fines?

This is something that got me wonder a while ago, where the US, or the EU for example issue a huge fine to a company or a bank (Wells Fargo just got fined 1B$!), where is that money going? I mean will ...
fduff's user avatar
  • 133
2 votes
2 answers

Increase in auto policy premium after removing 3rd car

My wife and I had 3 cars with Allstate. Homeowners, policy, umbrella policy, everything with Allstate. Same agent for 35+ years. Now the "kid" runs the show, somewhat arrogant, and enjoys all the ...
Joe Blow from NJ's user avatar
4 votes
1 answer

Spouse termination documents affecting insurance

A little background: my wife recently changed jobs and is now working part time with a new employer. I want to add her to the health plan I have with my employer, but was told I need confirmation that ...
Frostbyte's user avatar
0 votes
1 answer

Health insurance for psychological Skype consultations

I consult with an overseas psychologist via Skype. My current BCBS health insurance pays 80% when I visit my US psychologist. I don't know how to make the international health insurance since this is ...
bissi's user avatar
  • 21
3 votes
1 answer

New mortgage lender is requiring I buy condo owners insurance

I live in California, I have applied to refinance my condo, which I have owned for 30 years. The new lender is requiring that in addition to the HOA (Homeowners' Association) insurance policy on the ...
Ellen M's user avatar
  • 31
5 votes
1 answer

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 ...
Owen's user avatar
  • 241
1 vote
1 answer

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 ...
Prem's user avatar
  • 299
2 votes
0 answers

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 ...
new name's user avatar
  • 7,467
3 votes
9 answers

How Is Insurance Fundamentally Different Than A Ponzi Scheme?

After watching this video from the WSJ about long term care its problem, it seems to indicate the following: Actuaries didn't think people would live as long as they have, so they wouldn't need the ...
UnicornsSeem4EverHorny's user avatar
3 votes
1 answer

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 ...
dillowen's user avatar

1 2 3