The first mistake people make is getting the state minimum coverage to “save money.” This usually comes back to haunt them if they get into an accident as the state minimums are rarely enough to cover the damages. The second mistake is they don’t do the right things to reduce the cost of their insurance before they […]
Continue ReadingReinsurers may insure insurance companies but insurance companies “self-insure” or set aside reserves to cover any expected payouts under the policies. How it works: Sometimes insurance companies hold all the risk from underwriting policies. Sometimes insurers buy insurance from reinsurers for part of the risk. Insurers almost never lay off all such risk to others. […]
Continue ReadingYour insurance premiums, and the premiums of thousands of customers, go into a big bank account. For the small percentage of customers who have claims, these claims are paid out of this account. If the insurance company calculates rates properly, by the end of the year, they have paid out the total amount of money […]
Continue ReadingThey truly care about their customers however profit is a large part of their philosophy. If you fit their preferred market, good credit, no tickets or accidents and have had higher limit prior insurance, you should receive a good rate. Coincidentally just switched my home and auto to them today. My savings was $1100.00 for […]
Continue ReadingRenters runs anywhere from $200–400 for approximately $50,000 in contents coverage. I would not recommend taking any coverage less than $50,000.
Continue ReadingIn the US it would be a dwelling fire policy. You will need coverage for the dwelling and contents if you are leaving anything there and liability coverage. If they don’t offer liability coverage you can buy a personal liability policy or add it to your primary homeowners policy.
Continue ReadingPossibility, Only if the heater stopped due to a fire, flood or caused freezing pipes that burst requiring you to see and alternate living location. It would have be caused by a covered cause of loss on your policy!
Continue ReadingBroad polices cover – Fire, Wind, Sleet, Hail, Aircraft, Vermin, Rain. Special Policies which are most HO-3 forms are ALL Risks with specific exclusions to Ordinance or Law, War and Military Action, Nuclear, Earth Movement, Volcanic Eruption, Governmental Actions, Water – Flood, Wear and Tear, Criminal Acts.
Continue ReadingNationwide offers all that you’d expect from an auto insurer, plus a few additional options and perks. Gap insurance pays the difference between the cash value of your car when it was totaled or stolen and the amount of money left on your loan or lease. This insurance may be required by your lender, and you […]
Continue ReadingState Farm Auto Insurance Company OverviewYear Founded: 1922Official Website: https://www.statefarm.com/Insurance Offered: Auto, motorcycle, RV, motorhome, homeowners, renters, and moreCustomer Service: 24/7 phone: 1-800-782-8332Key PointsState Farm is licensed in all 50 states, but coverage options and discounts may vary by location.State Farm has more than 19,000 insurance agents nationwide.According to the company, some drivers who use the […]
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