Who insures insurance companies

Reinsurers 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. […]

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Why are insurance rates going up even when you have multiple policies such as a homeowners and auto policy? 

Your 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 […]

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If my heater stops working during the winter months, would my renter’s insurance cover additional living expenses?

Possibility, 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! 

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State Farm

State 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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