Homeowners insurance provides protection for your home against damages caused by covered perils like fire, theft, storms, and more. It covers repairs and reconstruction costs if your home is damaged. But what if something happens to your home when you don’t have an active insurance policy? Can you get homeowners insurance to cover pre-existing damages? … Read more
Co insurance is a common clause in many property insurance policies that requires the policyholder to carry a certain amount of insurance coverage relative to the total value of their property. If the insured does not maintain adequate limits, they may be penalized through co insurance in the event of a claim. This article explores … Read more
In the complex world of insurance, you’ve likely come across the term “MGA” without knowing exactly what it means. MGA stands for managing general agent, a specialized role within insurance markets. Keep reading to understand what an MGA is, what they do, and how they can benefit insurance brokers and policyholders. What is an MGA? … Read more
The Affordable Care Act (ACA) requires employers to report the cost of health insurance coverage on employees’ W-2 forms. This reporting helps employees understand the value of their employer-provided health benefits. What is Form W-2? The W-2 is an annual tax form that employers must send to employees and the IRS at the end of … Read more
Blue Cross Blue Shield (BCBS) health insurance plans provide coverage worldwide, though benefits vary depending on your specific plan. Most BCBS members have emergency medical coverage while traveling abroad. Some plans offer more comprehensive overseas benefits, including global networks of providers and support services. Domestic BCBS Coverage BCBS is made up of 36 independent and … Read more
Salvage and subrogation are two important concepts in the property and casualty insurance industry. They give insurers ways to recover part of the costs of claims they have paid out to policyholders. Understanding how salvage and subrogation work can provide insights into insurance company finances and operations. What is Salvage? In insurance, salvage refers to … Read more
Medicare has different parts and options for coverage. Premium costs can vary based on the specific Medicare coverage you have. However, some people qualify to enroll in certain parts of Medicare without paying premiums. Understanding Medicare premium costs and eligibility for premium-free coverage can help you evaluate your options and budget for healthcare expenses in … Read more
Single member LLCs are increasingly popular business structures for freelancers, consultants, and solo entrepreneurs. A key question for many single member LLC owners is whether they can deduct health insurance premiums for themselves and their families. The answer depends on several factors related to the LLC’s tax status, who the premiums cover, and what type … Read more
Dealing with insurance companies after an accident, injury, or loss can be frustrating and confusing. You likely just want to get your claim settled and move on with your life. But often the insurance company says they need to do an “investigation” first. What exactly does this entail? Here’s an in-depth look at what an … Read more
Paying off your insurance premium can seem like a great milestone. You no longer have a recurring payment to worry about every month or quarter. But what actually happens when you pay off your insurance early? Does your coverage stop? Do you still need insurance? Overview of Paying Off Insurance Early Let’s start with a … Read more