Not having enough coverage One of the most common mistakes people make with their property insurance is not having enough coverage. It is important to make sure your policy provides enough coverage to rebuild or repair your home or business in the event of a loss. This means considering the current cost of construction materials, … Read more
What is a health insurance agent or broker? A health insurance agent or broker is a professional who helps individuals and businesses shop for and enroll in health insurance plans. They can work for a specific insurance company or be independent and represent multiple insurance companies. What does a health insurance agent or broker do? … Read more
What is a viatical settlement? A viatical settlement is a financial arrangement in which a policyholder with a terminal illness sells their life insurance policy to a third party, typically a viatical settlement company, for a cash payout. The policyholder receives a lump sum payment that is typically less than the face value of the … Read more
What are some common reasons for car insurance premium increases? There are several common reasons for car insurance premium increases: Accidents: If a policyholder is involved in an accident, their premiums may increase, especially if they were at fault. Traffic violations: Traffic violations, such as speeding or driving under the influence, can result in premium … Read more
What is underinsurance? Underinsurance occurs when a policyholder does not have enough insurance coverage to fully cover the value of their assets. This can be a significant problem for homeowners, as underinsuring a home can result in significant financial losses in the event of a covered loss. What are the consequences of underinsuring a home? … Read more
What is insurance? Insurance is a financial product that provides protection against financial loss. Policyholders pay premiums to an insurer in exchange for coverage, which can include protection against a variety of risks, such as accidents, illnesses, natural disasters, and unexpected events. If the policyholder experiences a covered event, the insurer will pay out a … Read more
What is the difference between term and permanent life insurance? Term life insurance provides coverage for a specific period of time, such as 10, 20, or 30 years. If the policyholder dies during the term of the policy, the beneficiary will receive the death benefit. If the policyholder does not die during the term of … Read more
What is the importance of truth in insurance? Truth is essential in the insurance industry. Policyholders rely on accurate and honest information when making decisions about their insurance coverage, and insurers rely on accurate information when underwriting and pricing policies. Without truth, there is a risk of misunderstandings and disputes, which can lead to financial … Read more