If the policy is in full force and special form, damage should be covered. Insurance companies could play games and say the building was vacant although, I don’t see that happening, it…
Some people purchase insurance as a form of risk management. Why do you think some people purchase an insurance and others don’t?
People that don’t purchase insurance fall into 2 categories: They can’t afford it so they assume the risk They have enough reserve money that they can pay for the loss. Requirements and…
Which type of insurance is probably the most neglected?
Life Insurance
Which is the best claim paying life insurance company?
MetLife Guardian William Penn Travelers
How much is the fine for not having insurance?
You can only get penalized not having the following types of insurance: Automobile – Each state has it’s own penalties Workers Comp and statutory disability: Only if you have payroll or have…
What are an insurance contract’s essential elements?
A risk, transfer of risk, insurable interest, agreement, terms, rate and premium.
What kind of contract is a contract of insurance?
A contract for transfer of risk. You transfer the risk to an insurance company for an agreed premium. The Insurance Company agrees to pay you back for a covered loss written in…
Why is it a law that you have to have some form of health insurance? If you drive, it is probably a good idea to have insurance there, but why is the government currently forcing you to have medical insurance?
Two main reasons. The first is that if you require everyone to have health insurance then they contribute to the entire polulation of possible insureds, which the larger the population of people…
Will my claim be retroactively denied? Insurance paid a claim billed during the grace period after my COBRA (I had to stop paying premiums). The claim was preapproved before COBRA expired. Which date counts for eligibility: preapproval, or billing?
I believe all claims paid are deducted by what is owed during the Grace period. Once you catch up paying the premiums, they will pay the claim in full. Essentially once you…
How do I keep insurance from going up after a ticket?
If it’s a minimal infraction, impact should be low. Take a defensive driving course for a 10% savings. Other than that, hate to sound like a parent but drive safe and don’t…