A payment of premium provision refers to the section in an insurance policy that outlines the policyholder’s responsibilities and options for paying their insurance premiums to maintain coverage. The provision specifies key details like: When premiums are due How premiums can be paid Grace periods for late payments Consequences for non-payment Understanding the payment of … Read more
Opening up your winter coat to find holes eaten through the wool or discovering your favorite cashmere sweater riddled with tiny holes is disheartening. The damage is likely the work of clothes moths – a pesky pest that can ruin fabrics and textiles around your home. But will your homeowners insurance policy cover the cost … Read more
Having to replace your roof can be an unexpected and costly home repair. That’s why many homeowners want to know – does Safeco insurance cover roof replacement? The short answer is yes, a Safeco homeowners insurance policy can provide coverage for roof replacement in the event of a covered loss like wind, hail, or other … Read more
UnitedHealthcare cannot deny coverage for preexisting conditions on most of their major medical health insurance plans. However, there are some exceptions where preexisting conditions may not be covered by UnitedHealthcare plans. What is a Preexisting Condition? A preexisting condition is a medical condition that someone has before enrolling in a new health insurance plan. Some … Read more
When researching business insurance policies, you may come across terms like “general aggregate” and “umbrella coverage” used in relation to liability protection. But what do these terms actually mean, and are general aggregate and umbrella coverage referring to the same thing? The short answer is no – general aggregate and umbrella are two distinct concepts … Read more
Paying your insurance premiums on time is crucial to keep your policy active and maintain coverage. Insurance companies provide policyholders several options when it comes to how and when you pay your premiums. Below are the main methods of payment for insurance premiums. Modes of Premium Payment The mode of payment refers to the frequency … Read more
If you’ve ever filed an insurance claim, you may have wondered – do insurance companies share information about claims with each other? Can details about your claim history impact your rates and coverage with other insurers down the road? The short answer is yes – insurance companies do communicate information about customer claims amongst themselves, … Read more
Paying your monthly health insurance premiums on time is essential to keep your coverage active. But what if you miss a payment? Most health plans provide a grace period where you can catch up before your policy is terminated. However, failing to pay before the grace period expires can lead to loss of coverage. Understanding … Read more
When applying for insurance, you will often see a field on the application asking for your “relationship to policyholder”. This simply refers to your connection to the person purchasing and owning the policy. Understanding how to properly fill in this relationship information is key to ensuring you get the appropriate coverage. Who is the Policyholder? … Read more
When shopping for insurance, you may come across the terms “admitted” and “non-admitted” insurance carriers. This refers to a company’s status and certification under state regulations. So is Progressive, one of the largest auto and home insurers, an admitted or non-admitted carrier? The short answer is yes, Progressive is an admitted insurance company in all … Read more