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TheNBucket posted:What education is required to deal insurances? In order to sell insurance you need to pass the required tests which for life is a life and health test, for property and casualty a separate test, and for variable life there is a series 6 and 63 you can take which also makes you eligible to do certain investments. The tests aren't highly difficult but you'll want to study before hand. Each test is maybe an hour or two to complete. Insurance isn't a bad field but its 80% who you know 10% sales skills and 10% charisma. If you're independent I'd bump up the 80% to 90%. This isn't a bad thing, its just the way person to person sales work. In a larger company there is going to be more training available and more flexibility in what the different types of products available since you'll have other co workers and experience to draw on. Both have their strengths. They may also pay for those testings required to sell insurance too. My recommendation is to start with a larger company to get experience and knowledge up front. Unless you know a bunch of people or have a specific market cornered for a private enterprise. Does all that make sense? Any more specific questions?
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Mar 4, 2013 19:39
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TheNBucket posted:You were talking about selling life insurance, and the life insurance is paid up front. The life insurance is purchased from the insurance company THROUGH the independent agent. The agent is out of the business, so depending on his arrangement with the companies he represents he may or may not get a certain trailing commission. The contract for life insurance remains intact since the contract was with the company. For example, I no longer work at the same agency I did a year ago, but everyone, including what I personally bought, is still 100% covered for the duration. Michael Corleone posted:Hi OP, A LOT of variables are missing here, but I can't say it'll be 100% pretty. I'd recommend looking at preferred carriers since you have a clean record. Not having prior insurance is a big red flag for many companies since MOST people that don't have it either don't pay it so it cancels, have too bad a record that its too expensive, or were driving uninsured so are a higher risk. You don't seem to fall into any of those categories, but those are the categories companies tend to look at, so you're at a disadvantage there. Otherwise, your record would show up clean and you'd be applying as a single 29 year old with no prior accident OR insurance. For liability on a regular sedan-like car at 25/50/100 I'd expect a monthly payment of about $30-50 depending on what extra's you get and the company you go through. If you get GOOD coverage I'd expect $60 or so until you get a good insurance record going, then $30-50 for GOOD coverage. Nerdfest X posted:How much of the insurance industry's focus (and financial resources) revolve around "find a reason to deny this claim". I understand why they investigate (fraudulent claims) but how long do they dig and search until they find a loophole/fine print that will get them out of paying? There is a scene in the 2004 film "Crash" where the shop owner's store is vandalized, and the insurance adjuster overhears the daughter say that the break-in could have been prevented if they had the door fixed. This is when the adjuster basically closes up his notebook and tells them "whelp, thats your fault, have a nice day paying for this yourself". Do insurance adjusters get reprimanded by awarding too many claims? Do they have a personal motivation to pay as few claims as possible? How does awarding or refusing claims affect their career in the insurance field? I never worked in claims or as an adjuster, but I can say that most of the time if you have a GOOD insurance company this really isn't an issue. You see the term "cut rate" that the Allied Mayhem guy says? It's a real thing. You can go online and buy cheap insurance and they WILL divert more resources to not paying out as many claims than a larger company that has a good relationship with you. I've seen instances where someone literally didn't pay their bill, got in an accident after it lapsed, but had been with the company for so long, the company let them pay up and get back in. Likewise, I've seen someone that bought the lowest rate of insurance they could, got in a minor fender-bender, and their claim was denied because they were a few days late on the last payment. Adjusters are generally paid salary though and they won't go out of their way to screw you unless you specifically make their life difficult (like lying about stuff or hiding things). The thing with insurance is people often shop on price like they do with anything they don't know a lot about/don't want. The cheaper it is, the more appealing it is, often without looking behind the curtain.
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Mar 6, 2013 07:59
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oishii posted:I was wondering if there were any options for me to get cheaper auto insurance. That is pretty high. You're 33 with no accidents? What are you driving? Married? Are you sure its a clean record? Not having an SSN is a big deal but not once you've had a long track record like that. I'd shop around for sure. A question for Kung Fu Jesus, how much does adjuster work pay? Lastly, the rate thing...the question "why aren't my rates always the lowest always" is a loaded one. Not all insurance is the same. Sometimes new stuff comes out. Different coverages and allowances. Limits and deductibles. Just about anyone can call their agent and get a lower rate but that doesn't mean its a good thing.
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Mar 7, 2013 23:02
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This seems kind of insane to me and the price isn't going down even after 3 years continuous coverage. I have a clean record! Quotes from other places are similar.
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Thanks for the response Kung Fu Jesus. As far as cars flooding, that would be covered under comprehensive coverage since its not collision related.
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Mar 8, 2013 19:01
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Ryen Deckard posted:Hey OP, first off thanks for this thread. Insurance can be a pretty weird thing, especially for a lot of younger people, so having a thread like this is incredibly useful. Technically the insurance company would be perfectly within their rights to NOT cover the claim. She is in the home, is a licensed driver, and you never indicated to them that she was otherwise insured. It's very important that the people in your home that can drive are listed on a policy SOMEWHERE. The comp and collission may still be covered by them, but the actual liability if ther ends up being any...not so much. You would most likely just need to find another company. They may ask "Were you ever dropped" And you'd have to say yes, but I wouldn't expect it would be a huge deal since most companies really wouldn't care. The tricky part will be now that you need to put your gf on, SHE has no insurance history....which will raise both your rates. Panthrax posted:I think I should be OK, but I just want to make sure. I left my job and the insurance ended at the end of Jan. New insurance doesn't start until Apr 1. The two months in between I have a grace period where I can get COBRA to a tune of ~$350/mo and be considered to have no lapse in coverage. I don't really want to pay $700. I've got about 3 weeks left before my new coverage kicks in, if I don't go with COBRA, will this affect anything down the line? I don't plan on getting my own plan at some point, and I'll probably always be covered under an employer's plan (unless, I guess, if they get rid of it and we have to get our own on the state exchanges or whatever coming up in the next year or two). I know with auto insurance they always ask if you've been continuously covered for X number of years, otherwise I assume they jack your rates. If I'm always expecting to be covered by a group plan, do I need to worry about not having coverage for 2 months? To be honest with the new ACA i don't know how that will effect you 100%. In the past they could say "aha! You didn't have coverage, so that is a break in coverage. Now you have a 6 month/9 month/1 year wait period on certain procedures" I'm preeetttty sure they can't do that now with the pre-existing condition law in place, but I would honestly call them up and ask them to be sure. When it comes to the employer plan though it really shouldn't matter. You are a new employee on a new policy and they don't have any of that continual coverage nonsense. The trick is of course....those two months if you DO need coverage. Are they teh same company but with different employers?
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Mar 13, 2013 07:23
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Briantist posted:I have a question about insurance for my girlfriend's business. She's a private music teacher, some students come to her in a space she rents from a church, some students she goes to their home. No lessons happen in our apartment (it's against our lease anyway). The church wanted her to have some very high amount of insurance ($1,000,000 per incident/$3,000,000 lifetime), and when she got a few quotes they were super high, prohibitively expensive. I wasn't with her and I don't know what kind of insurance that actually was, so basically this is all the detail I have. What ended up happening is that she just didn't get the insurance, and the church never pushed the issue; she's been there for a few years. Likely they want her to get her own liability insurance. This is to cover her if she were to somehow be liable for damages teaching the students. Say she drops a piano on a kid. Well, that is your liability coverage. The reason the church may want it is because its just a good idea, but they may have certain clauses in their lease agreements that require her to have it. Usually its just like renters insurance though with landlords-the paper work says its required but they don't always enforce it. I mean, its always a good idea to have insurance if you can afford it. However, she is running the business under her name, it sounds like a sole proprietorship, and she does spend a lot of time alone with the kids. If something were to happen everything could fall back on you guys. I'd recommend looking at some business insurance in general if she can afford it. Something that covers premises liability, which would cover her if she damaged the church, as well as the general liability. The reason its probably so expensive is because she's alone with kids. Massage therapists, chiropractors, physical therapists, they all have a bit of trouble until they are well established because the potential litigation is higher when its a he said vs she said situation. Having said that, I don't see it as being prohibitively expensive. I'd expect maybe $500-$750 a year unless there are some variables I don't know about.
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Mar 13, 2013 23:40
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I'd hit up a local independent insurance agent and explain the situation. You may be able to get on with a good company if your record is clean. Just be aware, she is coming in as a non-insured driver which will bump up your rates regardless. You WILL pay more for insurance but you'll also avoid this situation in the future.
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Mar 15, 2013 23:50
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To meet the minimum requirements yeah.
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Mar 16, 2013 04:03
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Ugh lovely situation. This is more a bureaucracy problem more than insurance specific. Still..I'd call the insurance company and give them hell until they fix your system issue. You have contacted HR so you've done your part there. If they still do not relent you can call your States insurance commissioner office and that might light a fire under them.
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Mar 17, 2013 21:02
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FordCQC posted:Turns out my wife is at risk for a genetic blood clot disorder. I'm concerned we don't have enough life insurance on her, but if the tests come back positive we probably won't be able to get more on her. Should we just buy more, and is it illegal/unethical to do so prior to getting her tested? Well. Its unethical if you think hiding something from a large insurance company is unethical. It would likely have an impact on her rates for sure. Depending in how old she is and what other history you have they may rate her anyways or at the very least, pull medical records. I would also talk to your agent about how the company he represents looks at the particular blood disorder. It probably won't make her ineligible, just more expensive. Lastly, since you've done the tests already they would probably find out anyway through normal application procedures.
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Mar 18, 2013 21:03
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Mortanis posted:How can I not get completely screwed getting personal insurance when I quit my job later this year? Well you can start shopping now with an independent agent to find out what costs may be for you and your family. Independent health insurance is pretty expensive. I would definitely look at what resources your state has. Remember Obama care and the exchanges? They go live in some states as soon as 6-9 months. Things will perhaps open up for you then that we can't answer now. Remember yo cant be denied for pretty existing....only charged for it. I'd just shop around and see what prices can be and see what you can do to alleviate it maybe with wellness programs.
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Mar 27, 2013 04:33
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Lord Of Texas posted:Life insurance - worth taking out whole life policies as a healthy, married, financially secure 27-year old with no kids? At this point the only real value to whole life for me is building the cash value + having a consistent premium vs term where the premium will spike as I get older, but it just seems like a worse investment than paying off my student loans at this point. Well it depends on what premiums you're looking at. Do you have significant debts that you would want paid off? A family member or future kid you would want a large amount for? Do you have a job that supplies term life for you? What does your wife think? Remember whole builds cash value and doesn't change on the premium. If you have a significant amount you would want to leave behind for kiddos or your wife I'd get a healthy term policy and a smaller whole policy for the long term. If you're going to have kids you want to remember that your term will likely be up by the time kiddo would most need it. Lastly, what have you looked into so far?
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Mar 28, 2013 00:46
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A million? For that much? Ehhh... My advice, and this is without knowing all the details, is to listen to the liberty mutual guys. If you were my client I'd have you do $300k in term band $50k or so in whole. This is minimum. You'll protect yourself short term with the term and have the life building value for when kiddos come and/or you stop working. I wouldn't expect you to pay more than $500 a month if you're both in great health for both policies for both of you. All this life talk is tempting me to put out my own shingle. I have a little one at home and working from home would be perfect.
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Mar 28, 2013 20:20
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Double post.
Jastiger fucked around with this message at 20:31 on Mar 28, 2013 |
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Mar 28, 2013 20:20
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nakedmolerat posted:Weird insurance question here.... I'll leave out all the intrigue and drama, which would take up a few pages. Thank you in advance for any assistance. If you don't mind, I'll try my best at this one on the forums so maybe others can learn or chime in. The reason is because this is getting into lawyer territory. Outlook: Not good. Everything I'm going to put below is a stretch. An important question is whether the policy was purchased after you two were married and if it was intended to be for your son, or if it was in existence before hand. Really the reason this is important is because I believe in some states something like that may count as community property and need to be addressed at the time of divorce. IANAL, but I think there are consequences for hiding assets from a spouse during a divorce, especially if he cashed it out for himself. LEGALLY when we look at owners on insurance policies it means that they are the owner. The buck stops with them. If I take out a million dollar policy on myself and then transfer all ownership rights to my mistress, then technically she owns the policy and can do whatever, not my wife. Now, where the agency comes in is that most companies wouldn't let you do such a thing without getting a written statement as to who my mistress is, why I'm doing it, etc. Just to cover their legal behinds. In this case, the owner was the legit father of the 16 year old. It doesn't look odd at all, so it was probably correctly changed over and there is nothing you could do that way since he was the legitimate owner. What I would do here if you could, is try to get a copy of the policy. This could be hard to do for obvious reasons. He's your ex, not likely to give it to you, he may not have it anymore, the insurance company may consider you persona non grata since you're not married anymore. But if you can get a copy, like maybe your son has one, you want to read through that with a fine tooth comb. It is very possible that grandad had a special provision that the money go to the son. Maybe the father didn't provide the appropriate information to cash out the policy, or told the company it was being claimed for the son, but never made it to him. Look for the words "Per stirpes" on any documents. If your son is 18 now, you could potentially have him contact the company about the policy. It very well could be the case that he is the one that has to do all the leg work and paper signing since it was his money, not yours at one point. This is where the lawyer stuff comes in since the law differs from place to place and we're talking about a 2 year time period. Almost any information you get on the policy is dependent on the company cooperating with you or your son,(honestly, they probably won't) and there being a legal reason for you to go back and make a claim on the policy. Unfortunately this is a lovely situation that people can sometimes get away with. It all depends on so many factors too, like was there a will, was there fraud, was there misrepresentation, and sometimes just a company wanting to do the right thing within their legal power. If you feel I would need more specifics to better answer, you can absolutely email me at jastiger1@gmail.com
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Mar 31, 2013 08:04
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nakedmolerat posted:I slept on it overnight and realized that I gave you incorrect information. When the policy was written, son was both beneficiary and insured. Grandpa set up the policy and made all the payments. Father (my X at the time), was the owner. Grandpa did the same for the 3 other grandchildren, only they had nicer Owners, who did not steal their $. They all got their insurance money. These policies for all the grandchildren were meant to go to the grandchildren. Your son couldn't be the insured if there was a payout when Grandpa died. If son was the owner and insured, but dad cancelled the policy and took out any money that was in there then we're kind of back to square one. The owner can do whatever they want with it, even if its lovely. Unless there is a legal reason they should not have like fraud or misrepresentation. This sounds like a pretty complicated matter that extends beyond simply insurance though. You'll want your son and potential lawyer to go through this. The insurance sounds like a whole policy and as such is often considered an asset. Your son sounds like he will have more legal standing than you do concerning any lost benefits and/or insurance claims. Bring it up in court and I'd seek legal advice at that point if it is shown he has it or if you figure out the company. Sorry I'm not more help, but I know about insurance products, but not well versed in divorce court. The baseline rule to remember is that the OWNER has OWNERSHIP of a policy and controls it. Even if that OWNER is crummy. I"m sorry:( Bring it up in court! They may make him present a copy of the policy to show he doesn't have it anymore.
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Mar 31, 2013 17:58
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Nerdfest X posted:I am sure it is BS, but what is "You can save thousands on car insurance with this one easy trick the insurance company doesn't want you to know"? I know this is a scam, and I refuse to click the link to find out. As I've mentioned before, I could ALWAYS save someone money. You can almost ALWAYS strip out some form of protection to lower the premium. Just like anything else, you can buy less. The way they get away with that though is they take average rates in a certain segment, they don't tell you which segment, and then say "Aha! We have a lower underwriting amount for this segment, saving overall THOUSANDS OF DOLLARS". When individually it may be like $30 bucks less or whatever. And probably isn't the same apples-to-apples coverage. General rule I'm sure we're all aware of- if you can only find it exclusively as an internet ad, its probably not worth while. kevin stoley posted:Homeowner's insurance question. I am buying a house in Alpharetta, Georgia, and everything seemed fine until I went to purchase my homeowner's insurance. My renter's insurance has two claims filed against me, one of which I was not notified about until I went to verify all of my information for the purchase of the homeowner's policy. These quotes are for water damage, which was caused by the apartment's pipes bursting. The second claim was an attempt by the apartment management to file the same exact claim again and hope that it was paid out. Neither policy was paid out, because it was not our fault, and we were not deemed liable. Now however, these are still counted as two claims, and even though they are not paid out, they reflect negatively on my history, and none of the places that I have contacted thus far have been willing to write a policy for me. (Geico, Progressive, Farmers, State Farm, still waiting to hear back from Nationwide, but I have a feeling I know the answer). Are there any companies out there that will pick up these policies? I understand that it would probably be more expensive than a typical policy. Also, if it wasn't filed by me, I was determined to not be at fault, and no money was paid out, why does this still count against me when it comes time for me to pick up a new policy? That is pretty strange that they are still on your policy after contesting them. It sounds like you've contacted the existing company before. Have you asked about expunging them from the record? Are you buying the same place you're renting now? If you're not, I don't see why they would be so up in arms about it. Sure they could count a claim on there, but it shouldn't red flag the place, especially since the pipe burst in another location. But, this is important and I haven't mentioned it before HOME OWNER CLAIMS FOLLOW THE HOMEOWNER, NOT THE HOME, unless more detective work is done, which isn't often. What this means is that if the place you are buying had a massive pipe burst, a fire, and all that, then its repaired, and then you move in...you have a fresh slate. The old owner has that on their claim, not the home. Interesting eh? This is why its important to work with the companies you use instead of just signing the dotted line. The key here is that you weren't found to be liable, and nothing was paid out. Kind of strange they'd hold it against you. Are you working with an agent? How is your credit? Have you had ANY other claims filed against you homeowner wise?
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Apr 3, 2013 06:27
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kevin stoley posted:Just these two claims. (These are the same claim, word for word, filed twice by the apartment complex, I'm assuming they tried to file again and hope that they would get paid the second time around) Still keep me posted. It seems strange the company isn't willing to cut you some slack since the claims were never actually paid out.
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Apr 6, 2013 03:39
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Chris Christie posted:Question: What the poster above me said. You can keep records on your own or send them a copy for them to have, but it isn't necessary. Renters insurance is usually pretty straightforward. They may have taken a picture to make sure there are no obvious risks like falling in roofs or things like that. When in doubt document your stuff. Generally renters policies are easy going. In the event of a total loss, they are generally willing to cut a check for the amount purchased more questions asked unless you give them a reason to question. Check your coverage, make sure what you want is covered, and you're good.
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Apr 9, 2013 06:12
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Three-Phase posted:Renters insurance question - I brought this question up in this thread. As far as I know this isn't something that would be your fault unless it was proven that you specifically did something to allow in bedbugs.However, as far as damage to your stuff, I'm not familiar with any policy that explicitly covers bedbugs. Since you're in Ohio, I'd hit up a broker and ask them if they have specific coverages for that, but I'm thinking not. Keep in mind that a basic renters policy would protect you for any damage to the rental property, so if you were found liable for bed bugs, it should cover you unless otherwise stated. Make sure you get a "Special" coverage policy, as any reputable company offers.
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Apr 14, 2013 08:04
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Three-Phase posted:Wouldn't I also be able to claim, assuming I notified them immediately, that I did everything I could to contain it? (This wouldn't be bulletproof, but I think it's a drat good point from a legal standpoint.) Plus, that's true as well that for all I know I could have picked one up in the hall, laundry room, and soforth. I don't think CSI could determine exactly where a bedbug came from. Well if it could be shown it was YOUR fault that there is vermin, then yeah, it'd possibly be your liability. As you say, it's hard to prove YOU caused the bedbugs. As for your stuff...that is a real iffy one. I'd definitely clarify with your carrier about that one. "Special" coverage: there are a few types of coverage. There are Basic, which is usually bare bones. This covers, usually, fire, wind, hail, explosions, and a few other things. Basic coverage is ONLY the basic items, nothing more, nothing less. Generally you avoid these policies since they are kind of porous. They are usually offered on places under construction maybe, or a place that is vacant (if they'll do it at all). Special are policies that cover "everything but what is excluded". You'll see a list of exclusions at the back of these policies. They are the way to go most of the time, since there is way more that IS covered than isn't. misunderestimated posted:I have a question about homeowner's insurance. We got a non-renewal notice in the mail Friday. The reason the company gave was 'lack of underwriting information: no photos of dwelling'. Yes on both counts. It sounds strange that they would have your pictures, and then say they don't have pictures. If they wanted pictures of the new repair to show that it has been properly repaired, I can see that. But to non-renew just because they didn't properly ask for them seems strange. I'd get in touch with your agent and see what you can do to get the photos to him. If not the agent, call claims with the company. This is big, because yes, it can definitely impact your rates and eligibility with other companies. Get this taken care of pronto!
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Apr 15, 2013 05:44
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His "meaning to get out there" set you up for a cancellation. Its possible it slipped through the cracks but its still a big deal. Make sure it gets done.
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Apr 15, 2013 23:51
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Sorry I have been scarce in the thread! As far as the rental car insurance, I always recommend getting it. Of course check with your existing policy to see what they cover. They will often cover you for liability and may even have a reduced property damage amount specifically for damage to vehicles. However, I will say that if you can swing it, it's much easier to just get the $10 a day or whatever insurance through the rental car company. Why? Because you can ding the car up, turn it in and say "aha! I have the insurance, you guys deal with it" and they will. It's what you bought it for. If you don't, but you have your own insurance to cover rental driving it becomes a claim. First they will want you to pay for the damages. You then say "talk to my insurance company". Now they gotta investigate and then potentially pay. Or not if you were found negligent for whatever reason. All of the onus is on you, the renter of the vehicle, to make sure its right. For me, it's worth the $40 or whatever to just have it dealt with by the rental car company AND for there not to be claim on my insurance. Weinertron posted:I'm having a really bizarre experience shopping for home insurance. I've run online quotes through multiple insurers hoping that a multi-line discount would get me some savings. The pattern I'm finding from online quotes at least is that the people who have good auto rates are way out of line on home, and vice-versa. There must be something about my profile where some groups think I'm a responsible driver but a home in Houston that's not in a flood plain is a huge risk, and other groups think the home is OK but I'm a maniac of a driver. The variance is 300% between quotes, its crazy. How weird that my cheapest solution is 2 different insurers. Find an independent agent. Make sure they carry multiple companies of varying size. I had companies here that were SUPER TOUGH on literally everyone but married middle aged people. You could be 28, perfect record, nice safe house. Didn't matter, they'd charge you up for it. But once you became married and maybe had a kid....you couldn't beat their rates. There are all sorts of niche companies like that, and an independent agent can help you sort those nuances. Also, online quotes are rarely 100% accurate. They don't run a full credit check, driver history report, insurance claim report, and they haven't seen pictures yet. It's always better to compare with an agent who does all this than rely on artificially lowered rates online.
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May 1, 2013 17:33
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Alterian posted:I live in NC and I'm having an issue with our home owners insurance. They can do it for sure, it's not illegal. They can bundle the policies no problem. However, it sounds like they want you to shop for another insurance company if you ask me:) They may have changing underwriting terms, or maybe a bad quarter, so they either want more bundles or none at all. It happens all the time. If you have a great driving history and a good record of payment, there is no reason you shouldn't be able to change your insurance around. Depending on the coverage you have for your insurance, I can forsee a lower rate for the autos too. Find an independent and bundle your insurance with a Preferred carrier. Which state are you in?
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May 3, 2013 23:04
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Ring of Light posted:I was hoping someone can help me with my current dilemma concerning health insurance. I am currently a substitute teacher and my husband was laid off in November and accepted a job at a temp agency in March. Between November and the end of February we were paying for COBRA coverage for just husband as we couldn't afford it for both of us and we wanted to keep him from having a lapse in coverage since he has bipolar disorder. I was uninsured during this time. Woo my home state of Iowa!  I can tell you that they have accepted the Medicaid expansion if that is any assistance to you. You can certainly find out more through the Iowa Department of Health and Welfare on that one if that resource is needed for you.The Jizzer notes that Iowa underwrites their policies, but I wouldn't givee up until you've actually applied. That premium is RIDICULOUS. I have insured cancer survivors for less than that. Absolutely contact a private agent and shop around. Shopping is just shopping. Nothing is set in stone, but at least you can get all the groundwork done and see what you're looking at for premium. I'd do that before signing over to some thousands of dollars a month policy. A lifetime amx of $5000? Forget that. Amethyste posted:I'm hoping someone might be able to help me with this problem. If you've read my OP and seen my stance on life insurance: Listen Up Goons. This is why you buy life insurance early, and you look at whole life. Developments like this may not be detected early on, and when you have a nice nest egg...they creep along and now you're uninsurable. The only real hope he has of being insurable for life at this point is to see if he can get medical professionals to declare him cancer free, and SPECIFICALLY STATE that the cancer was excised with the appendix. Many companies may still have a "cooldown" period for this, but this is the only way. Cancer is like a bar-none denial for life insurance in 90% of cases. Keep in mind, even if he is found insurable after you go around getting all these medical clearances, he will be rated far below optimal rates and you. Will. Pay. But if you want life insurance, that is the way you gotta go. Otherwise, absolutely max out employer sponsored life insurance. That is your best bet.
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May 7, 2013 08:10
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Ramrod Hotshot posted:I bought a new Corolla last year, and pay $115 a month in car insurance. This is the first time I've had to deal with car insurance, and even though I really have no inkling if this is true, I feel like that's a lot to pay, even for a new car. I compared my current insurance provider (State Farm) with USAA and it was about the same. Then I looked at the breakdown of the cost and all the different coverages, and I really have no idea how much I should have for each. How should I determine the best balance between cost and coverage? Should I ask my insurance agent his opinion? Yeah. That is what he is for! Do you have any tickets? That seems high for a clean record. But..I don't know the details. Talk to your agent and he can compare with different companies.
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May 13, 2013 21:20
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IdeoPhanthus posted:I have a car insurance question. My husband got his license when he was 22 (2002, but had his permit since 16), then it was revoked in 2008 after a series of suspensions from unpaid tickets, and in the last couple months of 2012 we finally had the money to pay it all off. This wiped him clean, basically; he was back to zero points according to the lady at the dmv. He had to start the process to reapply from square one as though he was a brand new driver...so permit test, 5hr course cert, and his road test is this friday. I want to add him as a driver on my insurance before he takes his road test. I would have done it when he got his permit again, but he's stubborn & wanted his own car/insurance, so I just didn't let him drive my/relatives cars until he was insured. Time is running out & he is still lacking insurance, so I'm just going to toss him on mine until he has a car. Well this is where you could possibly fudge it a bit.I will tell you right now that if you put him down as a brand new driver it WILL increase your premium. You could make the argument either way. If it were me, I'd put down that he's been licensed since he was 22. If they press it, you can come clean. They can see his history if there was a physical claim against him like he hit someone, or filed a claim because he backed into something. They can also check the court system records to see if any moving violations have been reported. I am pretty sure his parking tickets will not show up there, so wouldn't worry too much about that. However, a license being revoked...I don't know how they report just that since there is usually an accompanying DUI or something that is associated with it. A license being revoked for tickets....I am just not sure. I'd probably not report any violations and if they come back with something, contest it. Not paying parking tickets does not make him a less safe driver (but then again neither does most other things they hit you for). As for the premium, they will generally want the premium paid on the periods that the insurance was increased. If he's on there in June, they are going to want a correspondingly higher premium for June. Most companies will inform you of the premium increase and have you pay it immediately and then all the next bills will be higher. Or they may just wrap it into all your remaining payments. Very few are going to be on you for a lump sum increase unless its a high risk situation. You'll see an increase because now you have two people, but provided they don't ding you for the license being "new", you should be alright.
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May 21, 2013 21:41
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IdeoPhanthus posted:Okay, thanks for the info. I'll just hopefully skirt it with the licensed since 22 thing then. These were all speeding tickets (15-20mph over), most got reduced in one way or another, but then things went downhill financially so they went unpaid, and turned into suspensions as a result. A couple got paid twice (they lost his reciept when they switched their records from paper to digital), we triple paid a driver assessment fee that they lost reciept of once, and the next time they claimed that we only paid half (we paid what the lady said was the full payoff at the time). It was a huge mess with somewhere around $6000 in the end just to finally get it all cleared up with every city & the dmv. Wow, municipalities/counties that "lose" receipts. That is pretty messed up. Where was all of this? I didn't see they were speeding violations. That kind of changes things. If they are moving violations they will show up if they were within the last 5 years. Some companies only care about 3 years, most are 5. They have two segments 1-15 and 16+. 16+ is a big big deal and most may even deny you, at best will sky rocket your rates. The 1-15 are still quite costly. I have some on my record and it pretty much doubles the rate I've seen others pay with clean records. As I've said before speeding tickets are a MASSIVE racket and triple hit the recipient in money, time lost, and insurance premiums. With that said, I'd really ask him when those last tickets were or what is showing up. If they are recent it may be more cost effective to shop around since it will go from one "safe" driver to a household with an "unsafe" driver. You're married and both have access to the car so most companies will require you to be together. I'd work with an agent to find the best options.
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May 22, 2013 02:46
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Three-Phase posted:Renters insurance: I currently have State Farm. Haven't had any issues with them, but of course I have never had a claim for anything like burglary and whatnot. Taking an inventory is never a bad idea. The thing with renters is they generally look at what you're purchasing as far as the total coverage. If you pay your premium they are generally more or less willing to write a check for the amount you've purchased, provided the claim is legit. You bought $50,000 of renters, they're gonna give you $50,000 if there is a total loss. If you have a specific item you want covered you can file it in the police report and they'll generally replace it. For example "They broke in and stole my TV valued at $1000". They'll see it in the report and pay you for a new TV. If they want to contest it, THAT is where having pictures and stuff is useful. They'll generally only contest if its fishy or not a consistent story. The denial of claims has nothing to do with credit or criminal history or anything like that. You bought insurance from them, you paid the premium, they are obligated to cover their end of the deal. Red flags for denial would be a claim for stuff, but no police report filed or you waited two months to file a claim for some reason. Kung Fu Jesus has some goods points as well. I would add that you can increase limits for just about anything, but I'd talk to an agent to go over the cheapest option. For example if you have a lot of guns over the policy limit of say $2000, and you want coverage for $15000. It MAY be cheaper to just add a special floater for just "collectables: guns" listed separately instead of increasing the "guns" limit, since a floater can generally cover just about anything. In your situation if you have specifics that you want covered that you think would be hard to replace or hard to convince that you owned, take pictures, keep receipts, write it down, and give it to the agent. Done deal:)
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May 30, 2013 19:06
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Goontastic posted:Trying to help a friend out: If she can't afford insurance and the hospital won't budge, she needs to either hit up Medicaid, a place like Planned Parenthood if it involves GYN stuff, or a charity place.
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May 30, 2013 19:09
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Sperg Victorious posted:How difficult is it to change agents on a business and a work man's comp policy? I want to keep the carrier, just want to change agents. What's involved and how long does it usually take? If you like the company, you just need to find another agent in your area that is authorized for that company. You can call them up and they can have you sign a change of agent form. This is pretty easy to do, they'll just need the specifics on your policy and it shouldn't take more than a few days.
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Jun 30, 2013 06:22
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Sperg Victorious posted:Are there any potential downsides? I feel a little hesitant because he got me a comparatively low rate and understood my business. When I shopped around at the very beginning, most agents didn't understand the business and carriers were giving me very high rates. Well, if you're just changing agents it shouldn't change anything on your policy unless you want them to. The only thing I'm hesitant on is if you're in a very specialized type of business that requires special credentials in order to sell and manage. Things like some types of bonds, medicare coverage, and specialized health plans come to mind. Those are all things to take into consideration when changing agents. If he's worthless, but knows how it operates, maybe its worth keeping it around than gambling with someone new. I don't know the situation. But generally no, there should be no downsides apart from things out of your control like if an agent moves, a company changes, or personal reasons.
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Jun 30, 2013 17:17
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Hmm yeah sounds like change agent time. You can ask others in your business who they use PR contact your company and ask about agents in your area. You could try telling him how upset you are too and get him to clean up his act. Otherwise you're going to keep giving him money.
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Jul 1, 2013 00:33
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Sperg Victorious posted:Quick question, on my tailored general liability I have hired and non-owned auto coverage. It's not listed on my certificate. I'm curious if that would normally be listed on my certificate since I'm paying for the coverage. Current agent is telling me that I need to make a special request for it to be listed on my certificate. Its probably just a general certificate they use and they could add it on there. The important thing is what is on the policy, not the cert unless you want to have it displayed somewhere so others can see it. You're well within your right to ask for it though and he should be able to have it put on there.
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Jul 3, 2013 21:40
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Honestly I'd call an independent agent to have them go over the plans. You're going to pay a bit more than your fiance most like, but you should be able to swing it. A good agent will give you multiple options, just make sure they are independent. On disability same thing, but remember that is a different animal than health. Same thing, go independent, but make sure they know what the are talking about before committing. Again, several options should be presented.
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Jul 4, 2013 23:34
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sellouts posted:Is this the spot to ask about trip insurance? Trip insurance isn't something I'm intimately familiar with. I did deal in event insurance which was anywhere from about $50 to $350 for most cases. I'd hit up a travel agency and ask for a referral to an agent that does this type of specialized policy.
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Jul 9, 2013 15:46
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Well, if your wife is at fault and its going to be a claim, then yeah, most likely your rate will go up. A lot of major carriers may have accident forgiveness so I'd ask them about that. It isn't a major accident so I would not expect it to shoot up, but maybe a hundred or so extra a year with am otherwise perfect record. Remember that they still look at your demographic information too. Age, etc. If you're mid 20s and up the hit shouldn't be bad if they hit you at all. Ask your agent to call in and ask for you though.
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Jul 15, 2013 18:32
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Sancho posted:How screwed am I if I need to upgrade a personal auto policy to $1 million CSL? It's required for a city contract. Well a commercial policy will in general cost more and its easy to see why. Instead of just you driving it for personal use, you now have employees using it, and you're using it in a capacity where you could be found liable. If you run over a kid while working instead of them being mad at Sancho, you were on city business, so now the city is liable. So yeah, there is more risk when using a vehicle for commercial use. The good news is that a good agent should be able to solve this for you. A lot of carriers will still insure your vehicle if its used for commercial purposes. The only difference is usually its for self employment purposes like if you were a rancher or transported your own goods. If you're a private contractor here, you could still be alright with a simpler policy. The difference is if you're really going to have an employee using it as well. They will need to be listed. Adding the city as an additional insured shouldn't be too hard. Often banks or credit unions will do the same until you pay the car off in its entirety. Make sure you tell your agent that you're using it for work, you have an employee, and you need an additional insured. It will more than likely be more money, but it shouldn't be difficult.
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Aug 14, 2013 19:37
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Interlude posted:A friend signed a contract to buy a new home and they are shopping for homeowners insurance. Two companies have turned them down due to the age of the roof. Any advice? Well...uhh ..get a new roof? I hate to be blunt, but a roof is a pretty big part of it since many protections from perils rely on a good roof. The best thing is to either replace it or find am insurer that doesn't ask. I will say that if an insurer considers a roof too old to insure, then it is probably pretty old and maybe even unsafe. I just reread your post....the home is new or new to them?
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Aug 15, 2013 04:47
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| # ¿ May 11, 2024 11:00 |
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I never sold the Gerber life plans, but I can tell you that the way they are SUPPOSED to work is that you pay on a Whole Life Insurance policy for a kiddo. The kiddo is insured for the amount that the policy says so if something were to happen to the kiddo then the policy would pay out. Kiddo doesn't die and reaches age 18, then the parents can gift the policy to the kiddo. The reason this is so good is because if the kid develops something that would affect their insurability, if they already have a policy with a guaranteed insurability clause in it, they can get insurance when they otherwise couldn't. They'd have to pay up the extra money to buy more of course, but the option may not be there otherwise based on their health if they have a development. It seems to me with the Gerber stuff and other policies you see on TV is that they are TERM policies. They may say something like "Guaranteed up to age 18", which is great, but there is no equity built into it. So when its done, its done, and there is nothing to give to the 18 year old unless they have a clause to continue the policy at the higher 18 year old premium. I always recommend that you get whole policies on kids if you can swing it. It builds equity, it protects the family, and its giftable to the child once they come of age. Does that make sense?
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Aug 16, 2013 18:29
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