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What else can I help you with?
How can some speculative risks have an insurable element?
You would be amazed at what can be insured. Specifically to your point, some investments are insured against down side exposure. The easiest example is private mortgage insurance. If you buy a home and have less than 20% to put down you are generally required to pay for mortgage insurance. That insurance is protecting the investor who holds your mortgage note against the market risk of you home value declining to the point that should they have to foreclose there is sufficient money to pay them their principal. They are speculating that the return on your note will be realized. If you put 20% or more down they will accept that risk. If you want them to speculate that with less down they will still get the return tehy expect, you have to insure the principal generally down to 80%. Once you Loan to value drops below 80% you can generally drop the insurance.
How do insurance companies determine if business are underinsured?
Under insurance is the situation where your insurance coverage is less than what is required to cover any loss you would incur. Insurance companies do random checks and base any quotes on the market averages to try to avoid the occurrence of under insurance.
Calculate company profits?
Simply put, Income less expenses.
Is replacement cost value or actual cash value a better choice for homeowners insurance?
Homeowners Insurance, Replacement Value Verses Actual Cash ValueIt really depends on your situation.If you have a newer home, then ACV is probably fine for you and will save you a little money. Your recent purchase price or Market value is much higher than the cost of building your home. A builder would not typically build the house and then sell it to you for less money than it cost him to build it.If the home is an older home or has depreciated to the extent that it would cost more to build than it is currently valued. Then you should choose a homeowners policy with replacement cost.
What is the current rate for New York State unemployment insurance?
The current rates for New York State unemployment insurance grants about $100 a week for people. These rates will hopefully be less needed in the future.
What is the difference between being insured under a policy and being self-insured?
If you have an insurance policy purchased from an insurance company, some or all of the financial losses you incur will be reimbursed by the policy issuer. If you are self-insured you, or the company that is self-insured, is responsible for all financial losses and liability to others. Some self-insured companies are self-insured only for the first million or 5 million dollars, and have bought insurance policies to cover larger losses. Their annual insurance premiums are lower as a result, since the purchased policy is not responsible for those less, and more frequent, losses.
What is under insurance and over insurance?
Not sure if you meant over insured and under insured. Basically there is a provision in homeowners and condo owner policies called a Co-Insurance penatly if you are not insured to 80% of replacement cost (not market value) of the home. If you are insured less than the 80% (under insured), you will not get you complete coverage limit but a reduced amount. Over insured is a little different. Lets say you insure your home at $100,000 and it would only cost $80,000 to replace. The insurance company would only pay the $80,000 but your premium paid was based on the $100,000 amount. If you are over insured, you will over pay for coverage. **Some states are "Valued Policy" states and you would get the full $100,000. Just a quick answer, but I hoped it helped.
What are the differences between self-funded insurance and fully insured insurance?
Self-funded insurance is when an employer pays for employees' healthcare costs directly, while fully insured insurance is when the employer pays a premium to an insurance company, which then covers the employees' healthcare costs. Self-funded insurance gives the employer more control and flexibility but also more financial risk, while fully insured insurance offers more predictability but less control over the plan.
What is the annual term for a life insurance quote?
Annual terms for life insurance quotes are basically based upon a probability that the insured would die within the year. The insurance company will give you a better rate if you have less health issues and are statistically less likely to die within that year.
If you have gap insurance through both the car company and insurance company will you the insured be entitled to one of the payments to purchase a new car?
doubt it, gap insurance (usually sold by the car dealer or lien holder) covers just that the 'gap' between the acv (actual cash value-which is what the insurance company less your deductible if there is one, for your total loss vehicle) and pay off of your loan
What kind of insurance does Quoteline Direct offer?
Direct insurance is insurance in which an insurer is directly responsible to the insured. Does not include life insurance. For more on direct insurance check out this Canadian company in Alberta https://www.westerndirect.ca/
Can your home insurance company cancel your insurance without notice?
This vary from state to state. For the most part, the only time an insurance company actually 'cancel' your policy, there has to be a very valid reason..for example, the insured withholding information or committing fraud. Otherwise, most companies take a less severe method by non-renewing. Doing this, they provide the consumer with an advance notice to not renew the policy. The consumer is provided with ample time to secure coverage elsewhere.
What are the function of policy form in an insurance?
The function of a policy form in an insurance is to provide all the provisions from the insurance firm to the party being insured. This serves more or less like the insurance contract.
Where can one find a home insurance calculator?
There are many home insurance calculators out on the net, but the one that is not affiliated with a home insurance company and thus less biased is CNN Money's Affordable Home Calculator. It's calculator is based upon what the user can afford and if the user inputs the correct values, the cheapest home insurance available will appear.
What is the role of insurance agent in insurance company?
An insurance agent is responsible for the sales of the company's insurance products/services. An agent is generally considered to be the agent of the insurer, whereas a broker is generally considered to be a representative of the insured. That is, the agent is more closely bound to the insurer that it represents, whereas a broker usually represents many insurers and shops for an insured. That said, there is becoming less of a distinction between the two. An agent also often gets involved in assisting the insurer with submitting covered claims to the insurer for payment. An agent has a fiduciary duty to the insured (a duty of trust and to act in good faith). An agent is licensed and regulated by the insurance regulatory authority of the state(s) in which he/she transacts business.
What is the percentage of people insure in India?
Insurance coverage for the citizens of India is inadquate. Insurance has still not reached all the people in the country. Less than 10% of the population in the country is insured adequately. Most educated people have insurance but still majority of the population is not insured.
Does auto insurance cover electrical problems?
auto insurance will not cover electrical problems, they cover for collsion and comprehensive coverage which is fire, theft, vandalism. I had an insured once who parked his vehicle in the garage and the car started on fire, the vehicle was brand new less then 100, not covered under auto insurance, recommended insured to bring back to dealership they will not honor claim, told insured to go with picket sign to dealership and contact company directly about his problem the Ford motor company not only gave him a new vehicle they upgraded it at no additonal fee. they didn t want anyone picketicy their dealership
