 What is the difference between whole and term life insurance? |
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 Hospital Copay- $200? |
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 Life insurance death benefits? |
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 A question about life insurance? |
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 If your car gets totaled and you have full coverage, does insurance go by trade in value, private party? |
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 Insurance major? |
if i am going into insurace business later on, what major should I get my BA on???
Additional Details
i am going to be an insurace agent.... |
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 What exactly is term life insurance? |
| in details please..but i hear you can cash it in..what does that mean...i know what it mean mean...but like what does it mean when it comes to..are you going to owe them something if you cash it in..... |
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 Family health insurance plan for 19yr old, 17yr, and few day old baby? Need it to marry.? |
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 Why do doctors charge less if you do not have insurance? |
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| Someone told me you can just pay what you can "afford." Well, if I can only "afford" $5 or $10 a month, will I get all my assets seized or something?... |
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 Do you think that a guy in his mid-late 30's with no money has any chance of being a provider? |
| I guy friend of mine has just turned 36 years old. He has been working at an $11.00 an hour job at an insurance company for about 8 months now. He's planning on he's getting get his ... |
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taotemu | Is the insurance industry a scam? |
I've paid premiums for insurance for years. We had a flood of black water due to a sewer backup that damaged a lot of property and our insurance company suddenly points our exclusions in our policy that state they won't cover damage due to this. What is the point of having insurance if they don't cover for things that are likely to happen?
They are more than happy to take my money, but when I need them they get really tight. Who reads all those pages of fine print?
Additional Details
I understand that insurance can't cover everything, but the whole point is to cover things that are likely to happen. Fire, flood (water damage), theft and vandalism would cover most things that are likely to happen to a home. Sewer backup should be covered under water damage.
They cover water damage if MY plumbing backed up, but just not the sewer line.
They also cover if an airplane crashes into my house. What are the odds of that?
"Oh, your house was destroyed on a Tuesday during full moon by a fire started in the kitchen, I'm sorry if you read the 8pt font exclusions to your policy that's not covered. If it started in the living room it would be covered" That is about as arbitrarily insane as what I'm up against!
My agent is a friend of mine and is trying to help as much as he can. I don't blame him. It is just an eye-opener to how messed up the whole industry is. |
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nurse ratchet
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Did your agent not discuss the exclusions of your policy? Most homeowners policies do not cover sewer back up, but I personally pay more for my insurance that does cover it. This is a good example of why you should never buy insurance over the Internet. Internet insurance is about sales only, not making sure you get what you need and servicing the account after it is sold.
I have heard a lot of people complain about insurance, but I have also had people send me flowers and thank you notes for keeping them from going bankrupt due to a loss, whether it's a liability loss or a medical (health) issue.
Find a good local agent in your area and change carriers so this does not happen again. Local agents live in the same community that you do, and usually care a little more about their clients than ones that live out of town.
I am sorry you had this awful experience. It is not a good way to find out how good your coverage really is. |
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hightechchic
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I can guarantee you that almost no one reads all those pages of fine print.
However, I can also guarantee you that absolutely NO type of insurance will cover absolutely every single thing that can happen to a piece of property. The only real difference between the different types of property coverage is WHAT they exclude.
I'm sure very few people read their entire warranty manual for the cars they purchase, either. But that doesn't make them any less valid of a contract.
The thing about a contract, you see, is that both parties enter into it. So, whether you read the fine print or not (your choice), or asked any questions about exclusions you agreed to the contract when you signed your name on the policy application.
There's really no great mystery to the exclusions clause, by the way. In most homeowners policies, the exclusions clauses are 1-3 pages and are fairly self-explanatory. If anyone would bother to take the time to read them...
Incidentally, it may shock you to know what people seem to believe should be covered by their homeowners insurance. I get inquiries all the time about whether or not it's designed to pay off the mortgage if the policyholder passes away, or why someone's lost eye glasses aren't covered. Seriously -- no one could AFFORD insurance if it covered every single thing people seem to think it should. (Oh, and incidentally, with most companies you CAN add a rider to cover sewage backup.) |
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Sue
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Many homeowners policies provide additional endorsements that can be added to your policy at an additional cost. One of them is sewer & drain backup, which also includes sump pump failure. If you didn't purchase this endorsement, then you are not covered. Your agent should have offered this to you. If you don't have an agent (like GEICO) then, that is why you need one. You get what you pay for. No insurance covers all things, but, you can buy insurance for most things, you just have to pay for it. |
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mdk
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There is not one policy sold in the US that has not been approved by the state insurance commissioners. So if you think you've been scammed, you can thank your pals in Harrisburg orTrenton or Richmond or wherever.
Tell them you want policies which cover everything, but be prepared to pay accordingly. |
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blb
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I like your first sentence "I have paid premiums for years". But, you have never paid a dime for backup of sewer and drains coverage. Since you have never paid for it why would the company pay for the loss?? Not everything can be automatically covered under a homeowners policy. If you felt it was something that was likely to happen did you question whether it was covered under the policy. Also, you feel that flood is something that is likely to happen but if you do not have a separate flood policy you are not covered.
Do that one thing that no one wants to do and sit down and review your coverage with your agent. Take the time to make sure that you have what you need. It is no one's responsibility but your own. |
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hall_ra
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Having lived in a town where an RAF Harrier crashed on a house....
You could look at whether the water / sewer company has a liability here. Was the cause of the backup on or off your property? If within the boundary you may find you are responsible for the maintenance of the drain, but if the source was on the street then it may be worth pursuing that route. |
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xwdguy
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In the U.S. the water claims that are covered for homeowners:
1) internal pipe burst (the sink/tub/washing machine overflowed would probably qualify here)
2) roof leak (would pay for water damage, not roof repair, unless something hit the roof)
3) sewer backup/sump pump failure can be covered by endorsement (that means you pay extra for that coverage; as someone else said, a competent independent agent would mention this as an option -- a direct-writer is less likely to). Of course, this would have to be in place before the damage occurred.
Flood is only covered by flood policies (meaning the whole neighborhood got it). There are time frames that often prevent adding such coverage for storms as they hit.
Ground water is not covered, by anyone, ever.
Damage to vehicles is covered by "other than collison" on your auto policy, so if your garage gets flooded, you at least have a shot of collecting on the damage to your vehicles -- very important for commercial auto.
Leaky roof and leaky basement aren't covered for the same reason repairs to a car breaking down isn't covered -- it is a maintenance issue; the damage is wear and tear instead of event-caused. |
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Schammy
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Just to be fair, I do work for national insurance carrier.
The profit margins on property & casualty insurance for the most part are quite slim. For every dollar in premium we collect, 95-99 cents is paid in claims and expenses (rent, utilities, salaries, attotney fees). That few percent that we get to keep is then invested to try and maximize the return.
We don't charge any more than we have to. |
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mbrcatz
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You're going to the bookie, and complaining that you didn't buy a "show" ticket, you bought a "win" ticket, and your horse placed.
Insurance is a bet. You didn't buy flood, or maybe you didn't buy backup of sewers and drains. It's your house, maybe the LARGEST investment of your life. You didn't bother to read the policy? Sure, most people don't. But you SHOULD.
Then go back to your agent, and tell them all the OTHER coverages you want to buy - replacement cost on building and contents, ordinance or law coverage, scheduled valuables, flood, backup of sewers & drains, and whatever enhancement endorsement the company issues. It might triple your premium, but hey, you'll be covered. |
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We need more COPS !!!
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Unfortunately, the "fine print" is what covers their pathetic asses.
I compare them to pedophiles....you get lured to them as young, innocent customer, only to get screwed up the **** in the long run, by then it's too late, and there is no one there to help you out.
It's just another lesson in life.
INSURANCE is synonymous with GREED !!! |
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