Driving a car that’s insured but as an uninsured driver can lead to complicated legal and financial consequences. Here’s a detailed look at what can happen in this situation. Overview In most states, auto insurance follows the car, not the driver. So if you drive someone else’s insured car, you’re typically covered under their policy. … Read more
If you own a home, coverage L on your homeowners insurance policy provides protection against liability claims. This covers legal costs and damages if someone is injured or their property is damaged on your property. Below is an in-depth look at what personal liability coverage is, what it protects against, coverage limits, and how it … Read more
Car insurance groups range from 1 to 50, with group 1 being the cheapest to insure and group 50 being the most expensive. So where does group 16e fall on this scale, and is it considered high? Group 16e sits around the middle of the range and contains family cars, hatchbacks and crossovers that are … Read more
Reinsurance is a critical risk management tool for insurance companies. It allows them to transfer a portion of policy risks to a reinsurer. There are three primary methods of reinsurance used – treaty, facultative, and hybrid. Each has advantages and disadvantages to consider. Overview of Reinsurance Methods Treaty reinsurance covers a predefined group or book … Read more
“To age 90 life insurance” refers to a permanent life insurance policy structured to provide lifetime coverage until the insured individual reaches 90 years of age. This type of policy is designed to offer lifelong protection instead of coverage for a defined term. To age 90 life insurance is a form of permanent life insurance … Read more
Many people are faced with the decision of choosing between a PPO (Preferred Provider Organization) and an FSA (Flexible Spending Account) when enrolling in employer-sponsored health insurance plans. The good news is that in most cases, you can have both a PPO health plan and an FSA. However, there are some limitations to be aware … Read more
Having valid car insurance is mandatory by law in India. As a vehicle owner in Kerala, it is important to regularly check your car insurance status to ensure continuous coverage. Thanks to digital platforms, you can now easily verify your car insurance validity online or offline through multiple channels. This comprehensive guide will walk you … Read more
When purchasing insurance, you’ll often come across the terms “limit of indemnity” and “sum insured.” These sound quite similar, but there are some key differences between the two that are important to understand. Sum Insured The sum insured is the maximum amount the insurance company will pay for a covered loss under a policy. It … Read more
Cal COBRA (California Continuation Benefits Replacement Act) allows you to continue your group health coverage after experiencing a qualifying event like job loss. But does this continuation coverage include dental and vision benefits? The answer depends on your specific situation. An Overview of Cal COBRA Cal COBRA is a California law that provides continuation coverage … Read more
Liberty Mutual’s slogan “Only Pay for What You Need” refers to their customizable home insurance offering. But what exactly does this mean for customers shopping for homeowners coverage? Let’s break down the details behind this popular tagline. Customizing Your Home Insurance Policy The phrase highlights how Liberty Mutual provides customized home insurance policies. Rather than … Read more