Life Insurance

Life Insurance - An uninsured driver is someone who did not have any insurance, had insurance that did not meet state-mandated minimum liability requirements, or whose insurance company denied their claim or was not financially able to pay it.  A hit-and-run driver also counts as uninsured as it relates to bodily injury (UMBI). An underinsured driver is someone who met minimum legal financial responsibility requirements, but did not have payment limits high enough to cover the damage they caused. In these cases, UM or UIM can pay you for your damages. It is important to note that uninsured and underinsured motorist protections are separate, although in many states they can or must be purchased together. A handful of states mandate purchase of UM/UIM, but most do not. If you purchase uninsured/underinsured motorist protection, your UM/UIM payment limits usually must comply with the state minimum but can't exceed your liability limits.  If your state and company allow uninsur...

Life Insurance - An uninsured driver is someone who did not have any insurance, had insurance that did not meet state-mandated minimum liability requirements, or whose insurance company denied their claim or was not financially able to pay it. A hit-and-run driver also counts as uninsured as it relates to bodily injury (UMBI).An underinsured driver is someone who met minimum legal financial responsibility requirements, but did not have payment limits high enough to cover the damage they caused. In these cases, UM or UIM can pay you for your damages. https://blog.ipleaders.in/wp-content/uploads/2017/04/BV-Acharya-11.jpg It is important to note that uninsured and underinsured motorist protections are separate, although in many states they can or must be purchased together. A handful of states mandate purchase of UM/UIM, but most do not. If you purchase uninsured/underinsured motorist protection, your UM/UIM payment limits usually must comply with the state minimum but can't exceed ...

Life Insurance - Underinsured motorist protection pays you for damages that exceed the payment limits carried by a driver who is considered underinsured. UIM will only pay up to the limits of your policy after subtracting the amount paid by the other driver's insurance . This means that the amount listed as your UIM limit is the total amount paid by both insurance companies , not the additional amount your company will pay after the other driver's company pays. Both UM and UIM apply to you and any passengers in your car, and to you and others listed on your insurance policy (including family members) when in other cars. Uninsured Motorist Property Damage Uninsured motorist property damage (UMPD) coverage may seem strange, especially considering many people already have collision coverage on their car insurance. However, for careful drivers who don't have collision coverage, UMPD can be a good way to protect their car from uninsured drivers without raising their premium...

Life Insurance - The term full coverage generally means that the insurance policy has both liability coverage and coverage for damage to your vehicle. The term full coverage does not mean that everything is covered no matter what happens.You should carry as much liability coverage as you can comfortably afford because damage  insurance claims today are sometimes settled for millions. Liability Insurance pays to someone else for Bodily Injury and/or Property Damage which you may have caused them and for which you may be legally liable. The first two (2) numbers referenced above (100/300) are the policy limits of a potential pay-out to cover your Bodily Injury Liability.  Your insurance company will pay up to $100,000.00 to any one (1) person and no more than a total of $300,000.00 to three (3) or more people who may have sustained a Bodily Injury in the same covered accident. The last number (50) means that your insurance will pay up to $50,000.00 to the owner of any prope...

Life Insurance -  A Little Story About Liability Insurance .  The size of the claim is based in large part on the amount available for settlement, or the policy limit. For example, say you knock down your neighbor's wooden fence, at a cost of $100 to repair. You might reasonably expect your liability insurance to pay your neighbor $100 in settlement. If, however, your liability insurance policy allows for exact replacement valued at up to $1 million, you might be surprised to discover that your neighbor's fence—fashioned of unusually aged wood and adorned with certain attractive knots and artfully crackled layers of antique paint—is by far his most prized and valuable asset. Remember the woman who sued McDonalds over hot coffee? Heaven help the insurance company that goes before a jury! In any case, so far as premium pricing is concerned, the point is that even well-established products may not have accumulated a long enough list of successfully closed files to take the gue...

Life Insurance -  2 Car Insurance Companies Make Up The Largest Market Share .  Are you comparing car insurance companies and need to make a decision between Allstate and State Farm? These 2 car insurance companies make up the largest market share for auto insurance policies nationwide so which company is better?There are a number of ways to make a choice about what car insurance company to use but first you should learn about each company. Allstate is a publicly traded company and currently the largest one who provides personal insurance products. Backed by over $125 Billion in assets and 70,000 + employees Allstate has a tremendous local presence through employees and agencies who support Allstate car insurance policies and claims. Allstate also offers a much wider product line of insurance products than State Farm meaning your eligibility to take advantage of multi-policy discounts may be greater with Allstate depending on what types of policies you have and what sta...

Life Insurance - Insurers are in the unique position of having encyclopedic information about the many different ways your business property could be damaged or destroyed, from fire and flooding to embezzlement. Property is also vulnerable as a result of a variety of other events such as electrical surges, accidental activation of a chemical sprinkler system or a computer virus. Because insurers know so much about what can go wrong, they can provide your business with the insurance coverages your particular type of enterprise requires. Without appropriate insurance, property losses can easily cause the entire enterprise to fail. The purpose of property insurance for the small business is to provide critical financial assistance in the event of a loss, so that the enterprise can continue to operate with as little disruption as possible.  Other Post :  How do car insurance companies and the DMV monitor you? Property insurance alone is seldom enough, however. It should be b...

Life Insurance - Car insurance is much more difficult to get after a DUI or DWI convection however its not impossible, just more expensive. In addition to higher car insurance rates and a limited choice of car insurance companies drivers who have been convicted of a DUI or DWI charge are also subject to monitoring for a certain period of time by both auto insurance companies and the State Department of Motor Vehicles (DMV). How do car insurance companies and the DMV monitor you? Almost any driver convicted of a DUI or DWI charge will be required to file and comply with a SR-22 form before getting their driving privileges reinstated. Have a DUI conviction and need a car insurance quote? Start here and compare car insurance company quotes to help find the best rates available for your unique profile! The SR-22 form is a form requirement for high-risk drivers by a State’s Department of Motor Vehicles. If your license was suspended due to a high risk driving incident conviction (such...

Life Insurance -  Liability Insurance Motorcycle .  Do warmer weather and rising fuel prices have you dreaming of a motorcycle or motorized scooter? Before you buy, check out the cost of the most essential piece of equipment for your two-wheeler: motorcycle insurance . Don’t leave the dealer’s lot or the driveway without it. Motorcycle insurance works pretty much like auto or car insurance , with some exceptions. Most notable is medical coverage. Some cheap motorcycle insurance policies may offer bare-bones medical coverage or no medical at all. If you own the bike outright, and depending on the state you live in, you may be legally required to carry only liability insurance – which covers damages to the other guy involved in an accident. But skipping medical coverage is not a smart place to economize on motorcycle insurance when even a 5mph accident on a bike can land you in the ICU. You should also be aware that your liability coverage may not cover injuries to your pa...

Life Insurance - What happens is when you apply for a high risk car insurance policy and are approved the car insurance company will complete the SR-22 form and send in to the DMV on your behalf? Once the form is received, reviewed, accepted and logged in to the drivers license system then you can go ahead and request driving privileges reinstated or renewed. Is a DUI different than DWI? No. Some states use DUI (driving under influence) while others use DWI (driving while intoxicated) – its essentially just a matter of semantics as both acronyms represent the drinking an driving law in a particular state. DUI Car Insurance Rates – How high are they? This depends on a number of factors including your unique profile however be assured that anybody convicted of a DUI or DWI charge will ay a lot more in car insurance and have limited car insurance companies to choose from How do I get the best DWI Car Insurance Rates? Other Post :  Insurers Offer Small Businessowners A Huge Variety...

Life Insurance - Insurers offer small businessowners a huge variety of property insurance policies. There are  policies that cover only a single peril, or cause of loss, such as a fire insurance policy, a crime policy or an electronic equipment policy.  The particulars of the policies vary from insurer to insurer.And there are policies that include several different coverages in a single “package.” The majority of small businessowners find it more convenient and economical to purchase a package policy, which provides protection against many types of loss in a single policy.  Insurers may create their own insurance policies . Many rely in part on a package policy format from ISO. This policy is generally referred to in the insurance industry as the Businessowners Policy (BOP). The BOP is revised periodically. The discussion here is based on provisions of the 2004 revision to the BOP. Specifically, the policy covers: Buildings as named in the policy "Declarations," gene...

Life Insurance - Collision Coverage is designed to protect your VEHICLE against loss or damage from a collision . The "ACV- $500.00" part means the most your insurance company will pay to you is the ACV (Actual Cash Value) of your vehicle LESS $500.00. If the cost to repair the covered damage to your vehicle is less than the ACV, your insurance company will pay for the cost of repairs LESS $500.00.  Collision Coverage is typically based upon ACV limitations. However, some insurance companies offer RCV (Replacement Cost Value) Collision Coverage. This means the potential maximum benefit you may collect under this coverage is increased to what it would cost to REPLACE your existing vehicle . . .  NEW! As the potential maximum benefit is greater with RCV Coverage than with ACV, so is the premium higher for RCV Coverage. Nonetheless, we wanted you to know that RCV coverage is probably available to you. We go into greater detail about the distinctions between RCV and ACV coverag...

Life Insurance -   Towing Insurance Coverage Definition .  Towing Coverage is simply that. Your insurance company will reimburse you (or accept direct billing) for the cost of towing the insured vehicle from a place of breakdown to the nearest appropriate service facility.  Most insurance companies have a maximum limit they will pay out on Towing Claims but some companies have virtually no maximum limit, so check this out when you buy your policy. Most insurance companies will only offer Towing and Rental Reimbursement Coverage if the insured vehicle already has Collision and Comprehensive Coverage with that same company. Rental Reimbursement If your insured vehicle is disabled because of a loss covered under Collision or Comprehensive Coverage, Rental Reimbursement Coverage will reimburse you for the cost of renting a temporary substitute vehicle while your insured vehicle is out of service. This coverage usually has a maximum $ limit per rental day, as well as...

Life Insurance - Liability coverage protects you if you (or another person driving your car with your permission) injure or kill someone or damage property. For example, let's say you run a red light, strike another car and injure the driver. Your liability coverage obliges the company to defend you - in court, if necessary - and pay claims to the other driver for vehicle insurance  damage and bodily injuries, including medical and hospital costs, rehabilitation, nursing care, and possibly lost income and money for pain and suffering. (The liability section of your policy does not compensate you for damage to your own car insurance or any injuries to you. They are covered by other parts of the policy. Now assume that you're involved in a collision at an intersection with no witnesses or evidence to pin the blame on either driver. Again, under your liability insurance   coverage, your insurer agrees to defend you against most proceedings the other driver may take against yo...