 Would it save money to divide family members onto two different auto insurance companies instead of just one? |
| We are trying to reduce our monthly car insurance payment. There are 4 adults on the family policy. My 2 kids live at two different addresses. One is 22 and the other is 24. We have a 2000 SUV, a 20... |
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 Can you get life insurance on someone without their consent? |
| My father in law is 60, and I think my he has dimencia or alzhiemers, but he won't go to the doctor. He won't get health insurance, and he won't let us as a family pay for tests. I ... |
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 How can I find which company my house is insured under? |
My husband recently passed away ans he was the one who took care of a lot of the financial responsiblities. He never mentioned what company our house is insured under. Is there a way to find out?
... |
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 I live in South Carolina and I'm getting disability, my daughter is 16 and wants a job. Will this affect it. |
I'm getting disability in south carolina and my 16 year old daughter wants a job will it affect my check amount
Additional Details
Thanks a lot for all the answers! Hopefully it ... |
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 How should I go about getting insurance on a used car I just bought? |
| I just bought an used car from an auto auction which runs pretty well, and I was wondering where should I go to get insurance on the car, and how do I go about gettin the insurance on the car?... |
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 Will my insurance go up? |
Open Country 69 in a 55
light traffic
This is my first speeding ticket.
I dont want my insurance to go up because my dad will take the car away.Iam 18!
Lenior County, NC
... |
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 Help! write a cancel letter to insurance company help!? |
| How to write a letter to progressive to cancel my insurance. They said that they need a written letter.... how can I write it .... help please!... |
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 Are you now convinced of sept 11 being an inside job? |
| Seems there are more and more evidence about the events that took place on 9/11 were planned months in advance and everyone involved including members of the media, military, private sector busineses,... |
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 Is it possible to pause a car insurance but resume it again? |
| I want to know that if I buy car insurance, will I be able to stop the insurance so that I don't have to pay, just temporarily as I might sell my current car and until I get a new car I don'... |
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 Bought a home 2 years ago damage to the home was not disclosed? |
| A family member purchased a home 2 yrs ago. On Christmas Eve 2008, their home flooded it now has over 11,000.00 of damage. As they were talking to a neighbor the neighbor disclosed that the same ... |
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 Where can I get cheap health insurance? |
| where can I get cheap health insurance. I just move out of my parents house and I think I should get it. I'm kinda behind in alot of things because I've been pretty much taken care of most ... |
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 I pick up & drop off ironing so what cover of insurance do i need? |
| i am confussed as for 10 years i have had van insurance now i have been told i need haulage cover. i use my pannel van to pick up & deliver peoples ironing a couple of hours each evening it is ... |
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 If you give a recorded statement to an insurance adjuster do they have to give you a copy? |
| The insurance ajuster of the person that re-ended me recorded my statement and I want a copy. do they have to give me one?... |
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 Life Insurance? |
| I got married this year. I am 33 Female. I have Rheumatoid Arthrits. My husband is 43 and a smoker. I need help determining the type of Life Insurance to purchase? Can you please help!!... |
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 How do Life Insurance companies make money? |
| Someone I know has a whole life insurance policy with Metlife with a face value of $50,000. The annual payment is $290. How does Metlife earn money when they pay out much more than they get in?... |
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 Car Insurance? |
Is it possible for two brothers to be under the "Named (or Names) Insured" list on a car insurance statement or any paper relating to car insurance. Can two brothers be insured together?
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Tata | I have recently been burgled. My insurance policy is "new-for-old". What does this mean exactly?.? |
For example, a sony digital camera was stolen which was bought for 300 pounds, approx. 5 years ago. It was a high-end model 'at the time'. The insurance company want to replace it with a similar spec camera which is the entry level today. Camera technology evolves so quickly that they become dated very quickly. The equivalent 'high-end' sony camera today is approx. 400 pounds.
What can i do? (I also had a 6yr old hp latop stolen - bought for 2000pounds. Same spec. laptop today - 600pounds. Is this 'like-for-like'? Is there a difference between 'like-for-like' and 'new-for-old' policies?) |
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Renny B
 |
The earlier answer is right - I think you're upset because (as well as having been burgled - my sympathies, incidentally) you feel hard done by because you paid out loads for something which can now be got much cheaper.
"New for old" is actually a big improvement over what insurance companies used to do, which was to reimburse the SELLING price for your goods - and (I think you'll admit) that the selling price for your old camera and laptop would have been next to nothing. They'd have only reimbursed you how much it would cost you to buy a second-hand 5-year-old camera etc.
Basically you'll be getting all your goods back, but new ones, except of course it won't be top-of-the-market, because the market has changed. An insurance policy which replaces top-end goods from the past with top-end goods from the present doesn't exist, unfortunately. |
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mamatohaley+1
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The previous answers are correct. You do not get a new top of the line item because when you bought it 5 years ago it was top of the line. The way insurance works is they are responsible for putting you back where you were before the loss. That means replacing with the same specs as the one you had before. Unfortunately with electronics prices drop rapidly and technology is outdated by the time it hits the shelf.
Why should you get belongings that are better and more updated than the ones you owned?
If they made people better off then they were before the loss think of the increase in fraud there would be. You could claim theft just to get all of your electronics updated.
If you want to update to new electronics see if they will pay you for the like product and you pay out of pocket to update to newer technology. They might do that for you. |
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Casino Rob
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Go back a number of years and there were two types of contents insurance you could purchase from many insurance companies. They were:
Reinstatement (new-for-old)
Indemnity
Indemnity policies (not new-for-old) have been pretty much removed from the marketplace in favour of reinstatement (new-for-old) policies now.
New-for-old simply means that you will not have deductions made from your claim for 'wear and tear'.
For example, back in the day when we had indemity policies, a claim for, say, a television would go something like this:
Replacement Value: £300
Item was 5 years ago. Give a TV, say, a 10 year life expectancy.
You'd get paid £150
But, as mentioned, you've got a new-for-old/reinstatement policy so you won't lose 'wear & tear' deductions. |
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blazing_staruk
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Your insurance company will offer you replacements to match what you have lost...if your model is no longer available they will offer an alternative with the same specifications no matter how much more it costs now than when you first bought it ....most insurance companies will let you know what they are offering and then ask you to check each model out before agreeing to accept what has been offered ...if the replacement is not up to the same specs as the lost one then you have the chance to say no i want something better...but you must do this before they deliver them. |
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mbrcatz
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It's like for like, but NEW items, instead of second hand. It's NOT for "top of the line" or "state of the art". So if you have something state of the art like a camera, state of the art 20 years ago, well, you'll get like features, on a brand new one - you DON'T get digital for film, for example. |
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Tony J
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Hi - what your insurance company are offering is standard in a New For Old policy. I was bitten by exactly the same "catch" some years ago.
It does actually make sense. Let's say you had a 1Megapixel camera. They'll replace it with a new 1 megapixel camera. You're no worse off and no better off - the insurance has done exactly what it's supposed to and left you in the same situation as you were prior to the burglary.
If they were to replace the camera with a 10 megapixel one, that would be "betterment", and few insurers would offer that. |
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Bluefurball
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what it says on the tin....check the details of your policy |
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edawg9111
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damn dude that sucks |
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