You're ready to buy an insurance policy, but you feel a bit uneasy embarking into the insurance world. After all, the language can be technical, and you're wary of insurance agents throwing sales pitches at you. Whether you're buying an auto policy, a homeowners policy, a life insurance policy, or some other type of policy, here are some general tips to help you tread the insurance waters.Comparison shopPerhaps the single most important thing you...more
From time to time, you may need to resolve a dispute with your insurance company. Disagreements often arise about the amount due on a bill, the amount the company paid on a claim, or the nonpayment of a claim. Here are some steps that can help you resolve a dispute efficiently and agreeably.Know your rightsThe insurance industry is highly regulated. Your state has laws that dictate what insurance companies can and cannot do when it comes to bill...more
There are as many different types of insurance contracts as there are types of insurance. The provisions in an auto insurance policy, for example, are different from the provisions in a long-term care insurance contract. In some ways, comparing insurance contracts is like comparing apples with oranges. Nevertheless, insurance policies all share certain common elements. Once you understand the basics of insurance contracts, you should be able to make some sense of your insurance policy--no matter what the type.An insurance policy is a written contract between you and the insurance companyAn insurance policy is a written agreement between you (the named insured) and the insurance company. Every insurance policy contains an insuring clause or agreement, which is a general statement of the promises the insurance company makes to the insured. In exchange for your payment of a premium and your observance of certain conditions stated in the policy, the insurance company agrees to pay you (and/or others) money in the event of a loss. In a sense, the risk of financial loss is transferred from you to the insurance company. Should a loss never occur, though, you'll be out some money in the...more
We've all heard the stories. A slumlord burns down the apartment house to collect on the insurance policy. In an effort to get a better premium rate, your neighbor underreports the length of his commute. Insurance fraud is anything that anyone does knowingly and deliberately for the purpose of obtaining an unwarranted financial gain at the expense...more
When your local weather forecaster tells you that it's going to rain, what do you do? That's easy--you reach for your umbrella. So why not purchase an umbrella that can protect you in stormy financial weather? Umbrella liability insurance (ULI) can do just that. By providing liability protection above and beyond the basic coverage that...more
Soon you'll be on your way, taking that trip you've looked forward to for ages--but suppose something happens. If you get sick, lose your suitcase, or have to cut your trip short, will any of your existing insurance policies cover your expenses or reimburse you for your losses? If not, you might want to purchase travel insurance, which is available from insurance companies, travel agents, tour operators, and cruise lines.If you can't make it after all or have to cut it short--trip cancellation/interruption insuranceYou're ready to go, but the cruise line has gone under financially. Or perhaps you've arrived at your hotel only to be handed a telegram informing you that Uncle George is seriously ill and you must return home immediately. If your trip is canceled or cut short, will you be able to get any of your money back?Trip cancellation/interruption insurance protects you if you must cancel your travel plans before you leave or cut your trip short due to an unforeseen event. Covered contingencies can include bad weather, the financial failure of a service provider such as a cruise line or a travel agency, your illness or that of a family member while on the trip, or an illness or...more
Sometimes things do not always turn out as planned during a vacation; you can get any type of problem while traveling. In these situations, you may also suffer from some financial losses, which can come in the form of loss of travel savings, medical...more
Many times it so happens that you have experienced a major destruction to the property you own which has been insured. When you apply for the claim, you find it hard to obtain. You are given various exceptions and clauses to avoid including the...more
health insurance costs for 2011 include higher premiums and co-payments The selection is likely to be even less appealing this year than last. According to experts and industry insiders, recent trends suggest rates will continue to rise and...more
Cheap whole life insurance could be found and taking such a policy will mean that your loved ones are protected with your primary expenditures still paid after you are deceased - your mortgage payments can be met and your funeral paid off. This kind...more
In choosing from the many Houston roofing companies operating in the area, residents are strongly advised to make sure that the company they hire has the proper insurance.Although this may seem like a minor detail when it comes to small repairs,...more
H.I.P.P.A., Healthcare Insurance Portability And Accountability Act: Part 1 First introduced in 1996, it created guidelines governing employee benefits, fraud, security of patient information, and electronic transactions involving billing and...more