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Tazzypillar posted:OK this is getting more and more confusing then. Hopefully tomorrow I'll remember to go through progressive's process again to look at it, but Progressive stated she was declared "not at fault". All I have right now is notes from then but i'll try and find the page tomorrow and take a screenshot maybe Do that and be sure to note what state you're in.
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Oct 7, 2015 05:45
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OssiansFolly posted:Do you have a life license that qualifies you to make those statements? If so you should probably turn that license in. There are ABSOLUTELY policies for the very young and very old that are whole life products that should be taken advantage of. I'm not an insurance salesman, no. Keep crying about how everyone should defer to your "expertise" in life insurance though!
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Oct 7, 2015 12:08
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Series DD Funding posted:I'm not an insurance salesman, no. Keep crying about how everyone should defer to your "expertise" in life insurance though! You are the one here whining that the insurance salesman touched you in the no no place at some point in life. Insurance agents aren't all these monsters out to steal your money and rape you while you sleep. I'm not here to tell you the 45 yr old father of 3 should buy $500k in whole life...that is a waste of money for a need that doesn't make sense. Small paid ups that avoid taxation on the very young and very old make sense to eliminate risk. Again, not advising that they pay $500/mo for a policy as that makes no sense financially. A simple issue policy that is easy to qualify for is a good way to guarantee a policy if/when it is needed.
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Oct 7, 2015 14:30
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OssiansFolly posted:You are the one here whining that the insurance salesman touched you in the no no place at some point in life. Insurance agents aren't all these monsters out to steal your money and rape you while you sleep. I'm not here to tell you the 45 yr old father of 3 should buy $500k in whole life...that is a waste of money for a need that doesn't make sense. Small paid ups that avoid taxation on the very young and very old make sense to eliminate risk. Again, not advising that they pay $500/mo for a policy as that makes no sense financially. A simple issue policy that is easy to qualify for is a good way to guarantee a policy if/when it is needed. They do not make sense, as the basic math does not change. For infants, the only slightly sound reason is guaranteed insurability. However first of all, if it makes sense for them, it makes sense for those slightly older. You should be telling all the 20 something goons here to purchase some whole life before it's ~too late~. But more importantly, it still doesn't make sense to try to "eliminate" this risk in this way. The chance of the kid actually becoming uninsurable when they need it is extremely small. Even if they do, the initial kid's policy they got is of course tiny and any guaranteed issue riders on it are generally tiny as well. If they go the mortgage-and-kids route they'll still hardly be covered for what they need. That's not even getting into the fact that this theoretical person could go job shopping for a company that offers lots of group term, or the fact that they're likely not healthy enough to be supporting all the dependents that causes the need for life insurance in the first place. I already mentioned estate planning, because yes there is the estate tax loophole regarding life insurance. It doesn't work for income tax as the policy fees are a worse drag on your profits, and the death benefit is only worth it if you expect the insured to die more quickly than the insurer thinks.
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Oct 8, 2015 12:20
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Series DD Funding posted:They do not make sense, as the basic math does not change. For infants, the only slightly sound reason is guaranteed insurability. However first of all, if it makes sense for them, it makes sense for those slightly older. You should be telling all the 20 something goons here to purchase some whole life before it's ~too late~. But more importantly, it still doesn't make sense to try to "eliminate" this risk in this way. The chance of the kid actually becoming uninsurable when they need it is extremely small. Even if they do, the initial kid's policy they got is of course tiny and any guaranteed issue riders on it are generally tiny as well. If they go the mortgage-and-kids route they'll still hardly be covered for what they need. You can turn a $25k paid up policy with more than 1 company into $300k thanks to guaranteed insurability. Sure you have to pay for those, but if you are ineligible for life insurance having anything and potentially a shorter life is important. $300k isn't enough to take care of 2 kids and a wife, but lessening the debt that you leave behind is just as important considering the life you've built has been one for two people. At this point you are banking on the fact the child lives long so many of the benefits of bumping it that high can be accomplished with proper investments. With the number of Americans with Diabetes now averaging almost 10% of the population and childhood variants occurring more and more that is just 1 reason a small childhood policy is a good thing to have. I don't often recommend PARENTS buy these policies as they generally have other things they are spending money on. GRANDPARENTS on the other hand make great customers by giving this little gift. Often the premium is really low, they have the excess money to diversify in a small paid up policy AND investments, and it is something that they can offer as a legacy to their grandkid (keep it for later in life, or surrender it for your first car/college). There are absolutely more reasons I can think to do a small whole life policy on a very young child, but neither of us have time to review all of them. As for the very old, you hit the nail on the head. If the money is NEVER money, and the person isn't expecting to live long enough for an investment to be worthwhile then a paid up policy is a great tax free way to leave money to next of kin. I've had the pleasure of helping many older people leave behind a nice legacy to their kids where the investment more than double or tripled the money they received tax free. Avoiding probate, debts, taxes and being able to spell out 100% down to the penny where money goes makes life insurance a great choice to help invest in your kids or grandkids future. This doesn't mean I recommend whole life to a 65 year old who just retired and looks like they are going to live another 15 to 20 years, but when a wife comes in to get her life insurance check from her husband passing away at 80+ you better believe I discuss purchasing a paid up policy with the remainder (after debts are paid off) if she has next of kin.
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Oct 8, 2015 14:08
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Sounds like a dumb question, but how does one go about finding an insurance agent? I've been using the one my family used since I started driving, but having moved to a new place, I'm thinking I should start checking into what's being offered. I know I should look for a multi-carrier agent, but do I just hunt around on google/yellow pages, or is there a place to look for vetted agents local to you? Of course if there's a goon here who handles TX, that'd be helpful. Also, I didn't see it via skimming, but what would you recommend as a "safe" level of car insurance? I'm not driving a sports car, but 30/60/30 just feels low, which is what sparked my question.
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Oct 8, 2015 20:17
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RedMagus posted:Sounds like a dumb question, but how does one go about finding an insurance agent? I've been using the one my family used since I started driving, but having moved to a new place, I'm thinking I should start checking into what's being offered. I know I should look for a multi-carrier agent, but do I just hunt around on google/yellow pages, or is there a place to look for vetted agents local to you? Of course if there's a goon here who handles TX, that'd be helpful. Read the entirety of the OP and it'll answer pretty much all of your questions. If you think that insurance is related to your car, then again, read the OP. As for the agent, just hit google for local independent agent and give them a buzz.
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Oct 8, 2015 20:30
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RedMagus posted:Sounds like a dumb question, but how does one go about finding an insurance agent? I've been using the one my family used since I started driving, but having moved to a new place, I'm thinking I should start checking into what's being offered. I know I should look for a multi-carrier agent, but do I just hunt around on google/yellow pages, or is there a place to look for vetted agents local to you? Of course if there's a goon here who handles TX, that'd be helpful. 30/60/30 is low. MOST good outpatient surgeries without insurance will cost more than your minimum limits. But, then again, asking a bunch of insurance agents "should I have more coverage" is a loaded question. In my state our STARTING point for quotes is 100/300/100, but we obviously recommend more. As for finding an agent...just type in "Insurance *Zip Code*" into Google and hit the first few. Then go "Independent Insurance *Zip Code*" into Google and hit the first Indpendent you see that has a few different companies listed on their website for options. The goal is to get as many quotes as you can with as little work on your part.
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Oct 9, 2015 14:16
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OssiansFolly posted:30/60/30 is low. MOST good outpatient surgeries without insurance will cost more than your minimum limits. But, then again, asking a bunch of insurance agents "should I have more coverage" is a loaded question. In my state our STARTING point for quotes is 100/300/100, but we obviously recommend more. Appreciate the advice. I'm always a little wary of just "google for one" for something financial related, but I'll give it a shot.
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Oct 9, 2015 14:19
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RedMagus posted:Appreciate the advice. I'm always a little wary of just "google for one" for something financial related, but I'll give it a shot. MOST of your first results are going to be State Farm, Nationwide, Farmers and Allstate. That is why I said do it a second time asking for Independent Agents. The big companies are financial giants so no biggy. As for the Independent Agent, just ask for the Standard & Poor's financial rating of any company before signing with them. My agency doesn't promote any company that isn't financially rated as A- or higher. The majority of agents will be able to give you that info quickly (all the companies I quote for have an intro sheet that goes with quotes talking about their financial stability and consumer satisfaction ratings).
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Oct 9, 2015 16:38
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Quick whole life insurance question. My folks took out a policy on me when I was a baby. Now that I am not a baby, they wanted me to take over ownership and payments, so I did and now am digging into the details. I already have pretty baller life insurance through my work, and from what I can tell from this policy it appears to be rather garbage and am considering surrendering it to put the value towards smarter investments. I'm confused about what exactly the actual payout (pre whatever surrender fee they charge would be). The statement shows the following: Gross cash value: 1100 Payout value: 2600 Gain at surrender: 0 What does this actually mean? Get nothing if surrendered, or a payout of 2600? How does the gross cash value factor in?
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Oct 10, 2015 02:54
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The Butcher posted:Quick whole life insurance question. You're beneficiaries would get 2600 if you died, you'll get 1100 if you cash it. I'd cash it after verifying that there are no additional penalties or fees.
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Oct 10, 2015 04:00
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The Butcher posted:Quick whole life insurance question. And how much did your parents pay over 20 years for this wonderful little whole-life policy?
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Oct 10, 2015 15:49
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app posted:And how much did your parents pay over 20 years for this wonderful little whole-life policy? Hah! To be fair the numbers are a little bigger (not that much) but the ratios between them are the pretty much the same. I did the math on their monthly vs payout over time and yikes... They got taken for a ride. Never going to tell them though. They were young and their hearts were obviously in the right place, some lovely advisor probably sold it as a good future investment or savings vehicle.
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Oct 11, 2015 06:01
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The Butcher posted:Quick whole life insurance question. See, its agents like this that make the rest of us look bad... If this policy isn't paid up by this point your parents got screwed. Cash that out and move on (though don't rely on work life insurance...you may not get to keep it when you leave for any reason).
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Oct 12, 2015 14:12
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Any of yall deal in professional liability insurance? I'm starting a laboratory that runs analysis on consumer products and have no idea how much insurance could cost.
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Oct 15, 2015 16:04
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Texibus posted:Any of yall deal in professional liability insurance? I'm starting a laboratory that runs analysis on consumer products and have no idea how much insurance could cost. Local specialized agency is where I"d go for that. Make sure they aren't captive and are independent. They'll give you a gamut of policies for Professional and General liability policies.
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Oct 15, 2015 16:20
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Texibus posted:Any of yall deal in professional liability insurance? I'm starting a laboratory that runs analysis on consumer products and have no idea how much insurance could cost. I'm assuming this is a complete new start-up? If not, your current commercial agent should be able to help you out. e: Since Jastiger answered better than I did, I'll tack on and add to make sure the agent you go with knows commercial lines. Don't be afraid to ask them how much commercial lines they write in their office. You don't want to get stuck with someone who's licensed for commercial lines but does mostly personal (for example). Dango Bango fucked around with this message at 16:27 on Oct 15, 2015 |
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Oct 15, 2015 16:21
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Jastiger posted:Local specialized agency is where I"d go for that. Make sure they aren't captive and are independent. They'll give you a gamut of policies for Professional and General liability policies. Gonna echo this. Make sure you have a full understanding of what Liability Limits you need, how much equipment you have and the dollar value for each piece, any requirements like additional insured/waiver of subrogation/primary & non-contributory language, and if you will need Auto, General Liability, Professional Liability, Umbrella, Pollution (?), etc. coverages. I know it sounds like a lot, but if you have any contracts upon start up they should have insurance requirements to do work for them and you can ask them what they are (usually they have a sample certificate or list). Call the local independent and have them look into it for you.
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Oct 15, 2015 16:29
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Health insurance question: does a company have to offer a special enrollment period when someone gets married? I just got married, but when I sent an email to the benefits address my company uses, they said I would need to wait for open enrollment. My wife is going to age out of her parents' insurance effective December 1st, and we can't afford to be without at least prescription insurance for even a month.
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Oct 20, 2015 18:58
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22 Eargesplitten posted:Health insurance question: does a company have to offer a special enrollment period when someone gets married? I just got married, but when I sent an email to the benefits address my company uses, they said I would need to wait for open enrollment. My wife is going to age out of her parents' insurance effective December 1st, and we can't afford to be without at least prescription insurance for even a month. Most plans, and by most, I mean every plan I"ve ever seen and been a part of, allow for "Life events" that you can change enrollment. Having a kid. Getting a divorce. GETTING MARRIED. They should allow you to sign up both of you since that is a life event and your coverage starting the next policy period. I'd call and get yourself signed up because that just sounds strange.
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Oct 20, 2015 19:05
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It should be noted, and I don't know if I posted this in the OP or above, but...insurance aggregators suck. Don't use them. Go to an agent. Places like Good2go insurance are garbage and only pawn you off to companies that literally don't want your business. Yeah, they also piss me off, but its just a crappy way to get insurance. The companies know nothing about you, they promise you the world, and then they hand you off to a company that likewise knows nothing about you and promises you nothing.
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Oct 20, 2015 21:12
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Well, it turns out that my company's benefits provider doesn't consider marriage a qualifying life event. Good thing I'm looking for a new job anyway. E: Actually, it turns out the person I was talking to didn't know what she was talking about. 22 Eargesplitten fucked around with this message at 00:05 on Oct 21, 2015 |
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Oct 20, 2015 22:47
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So what is the final verdict? Adding an insured due to loss of coverage should be a qualifying event in and of itself, let alone marriage.
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Oct 21, 2015 00:28
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Marriage, divorce, death, and birth are qualifying events almost always as far as I'm aware. Isn't that actually defined by law?
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Oct 21, 2015 01:00
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Jastiger posted:So what is the final verdict? Adding an insured due to loss of coverage should be a qualifying event in and of itself, let alone marriage. It qualifies, so that's a load off my shoulders. I was pissed off, I thought I was going to have to pay for a month of COBRA.
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Oct 21, 2015 03:08
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Goon justice!
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Oct 21, 2015 03:11
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22 Eargesplitten posted:It qualifies, so that's a load off my shoulders. I was pissed off, I thought I was going to have to pay for a month of COBRA. It is worth noting in case anyone sees this question in the future...after a life event there is a fairly small window to make these changes. On average I see 30 days (sometimes 45). (I just got married the beginning of this month and was doing the same thing...luckily I am licensed so I didn't have to deal with morons telling me I couldn't do something I knew I could) And, on the subject, make sure to tell your auto and home insurance provider you got married! Going from Single to Married typically saves money on insurance!
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Oct 21, 2015 16:58
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Anything in particular I need to know about home insurance for a vacant house? I'm living with my girlfriend, but my house hasn't sold yet. I've read that insurance for a vacant place can be more expensive because of vacant houses being a target for vandals or squatters or something? (none of that is likely where I live) Wouldn't not needing any insurance for possessions offset some of that? I'm hopefully talking to my agent today, but wanted to check here for a second opinion. Thanks.
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Oct 22, 2015 18:02
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Soup in a Bag posted:Anything in particular I need to know about home insurance for a vacant house? I'm living with my girlfriend, but my house hasn't sold yet. I've read that insurance for a vacant place can be more expensive because of vacant houses being a target for vandals or squatters or something? (none of that is likely where I live) Wouldn't not needing any insurance for possessions offset some of that? I'm hopefully talking to my agent today, but wanted to check here for a second opinion. Thanks. Most primary home insurers I know of won't insure a vacant house. They just won't, unless its as a favor or accommodation to an existing customer. Talk to your agent and find a specialty home insurer that can do the vacant place.
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Oct 22, 2015 18:52
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Soup in a Bag posted:Anything in particular I need to know about home insurance for a vacant house? I'm living with my girlfriend, but my house hasn't sold yet. I've read that insurance for a vacant place can be more expensive because of vacant houses being a target for vandals or squatters or something? (none of that is likely where I live) Wouldn't not needing any insurance for possessions offset some of that? I'm hopefully talking to my agent today, but wanted to check here for a second opinion. Thanks. Not sure if they write direct, but try VacantExpress. Usually brokers have a couple options for vacant homes. The coverage SUCKS. You are looking at Fire & Explosion...that's it. I'd give JH Ferguson a call first at that link to see if they sell direct, and if that doesn't work call a local independent agent for coverage. MOST places that offer this coverage are going to have a minimum 3 month premium guarantee FYI.
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Oct 22, 2015 20:01
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Does Renters insurance cover flooding usually? Waiting on my agent to call back, but with a giant hurricane poised at Mexico, I figure it wise to check just in case it swings into Texas
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Oct 23, 2015 13:12
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Generally nope. Flood insurance covers floods. The exception may be if you have the water back up endorsement and water backs up from INSIDE the home. Otherwise if water levels rise and soak everything, you're likely not looking at replacement of property. Loss of use MAY apply though, so that's nice.
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Oct 23, 2015 13:50
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Jastiger posted:Generally nope. Flood insurance covers floods. The exception may be if you have the water back up endorsement and water backs up from INSIDE the home. Otherwise if water levels rise and soak everything, you're likely not looking at replacement of property. Loss of use MAY apply though, so that's nice. Yep, sadly flood insurance was taken away from 'private' carriers and is now largely subsidized through FEMA. A fairly necessary step taken by the Feds the years following Hurricane Katrina.
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Oct 26, 2015 00:29
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Renters Insurance question - I'm getting quotes online, and one company is asking if I have any businesses operating on the "premises", citing a daycare as an example. Within my unit there is no business, but on another floor of the building there is a business that I have nothing to do with - should I declare that as being in business on my "premises"? Or should I just worry about my unit specifically? I don't want the business to cause a fire and then the company deny my claim because I didn't tell them about a business being in the same building. Also - the Renters quote is asking if I have any property damage claims in the last 5 years. I was at fault for an auto accident a couple years ago and filed a claim that paid for damage to both my car and another vehicle - does that count? Or are they just worried about homeowner/renters claims? I thought about switching my auto insurance to State Farm and bundling a Renter's policy since they offer like an 18% multi-policy discount, but the car accident ~2 years ago is complicating that.
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Nov 3, 2015 01:41
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EugeneJ posted:Renters Insurance question - I'm getting quotes online, and one company is asking if I have any businesses operating on the "premises", citing a daycare as an example. Within my unit there is no business, but on another floor of the building there is a business that I have nothing to do with - should I declare that as being in business on my "premises"? Or should I just worry about my unit specifically? I don't want the business to cause a fire and then the company deny my claim because I didn't tell them about a business being in the same building. 1. Worry about your unit specifically. (That question about business on premises is a liability question.) 2. Auto shouldn't be included in this, but I'm not 100% on that and will defer to the other guys.
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Nov 3, 2015 02:10
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EugeneJ posted:Renters Insurance question - I'm getting quotes online, and one company is asking if I have any businesses operating on the "premises", citing a daycare as an example. Within my unit there is no business, but on another floor of the building there is a business that I have nothing to do with - should I declare that as being in business on my "premises"? Or should I just worry about my unit specifically? I don't want the business to cause a fire and then the company deny my claim because I didn't tell them about a business being in the same building. Dango is right, only worry about YOUR unit. The most common ones are daycares or cutting hair in the unit. Working from home can be OK if its telecommuting for a lot of companies. What they are looking for is to make sure you don't have customer foot traffic coming through your apartment, and that you don't have actual substantial business inventory on hand that would be a loss of income situation. As for the auto, nope. They are more worried about property losses like thefts or weather claims. Your auto should be separate from this.
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Nov 3, 2015 02:19
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Thanks guys!
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Nov 3, 2015 04:23
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EugeneJ posted:Thanks guys! Also, don't skimp on Liability. I know everyone likes to think someone is going to steal your poo poo which is the leading reason to get renters, but there are going to be more substantial Liability claims than property claims. With SF the difference between 100k and 500k in Liability is like $30/yr...that's less than $3/mo and if you accidentally burn the place down or clog a toilet while drunk you will thank your insurance company for paying to repair the building.
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Nov 3, 2015 15:12
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OssiansFolly posted:Also, don't skimp on Liability. I know everyone likes to think someone is going to steal your poo poo which is the leading reason to get renters, but there are going to be more substantial Liability claims than property claims. With SF the difference between 100k and 500k in Liability is like $30/yr...that's less than $3/mo and if you accidentally burn the place down or clog a toilet while drunk you will thank your insurance company for paying to repair the building. Yup! Read the OP! Its all there.
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Nov 3, 2015 16:10
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