Inflation is one of the main factors behind the increase in insurance rates. Stephen Yao, assistant professor of insurance and risk management at the University of Central Arkansas, said price increases caused by inflation tend to be permanent. ...
of insurance contain separate sections for different types of liability coverage listed as general, auto, umbrella, and workers’ compensation. The term “insured” refers to the...
What Is Life Insurance? Understanding how life insurance works and how to shop for a policy can help you find the best coverage to meet your family's needs. Life insurance is a contract...
Want the best auto insurance coverage? Money expert Clark Howard reveals the best auto insurance companies by customer reviews — and the ones to avoid!
If contracts have force majeure clauses—meaning "superior... need to purchase separate flood and earthquake coverage. What Is an Insurance Definition of an Act of God? In the insurance...
Feature, Comprehensive Coverage ; What's Covered, Non-collision damage to your vehicle, such as: Theft Falling objects Fire Natural disasters Animal damage ; Deductible, Yes ; Coverage Limit, Actual cash value ; Required or Optional?, Required if leasing or financing vehicle. Otherwise optional. ; What's Not Covered, Damage to another person's vehicle Medical bills (yours, your passengers', other drivers', other passengers')
If your car gets totaled or stolen, the last thing you want to hear is that you owe more on the car loan than the car is worth. If you have collision or comprehensive coverage, your car insurance company will pay the value of your car in a total loss settlement, not what you owe on a car loan or lease. But if you owe more on your car than what it’s worth, gap insurance can help bridge that gap. Gap insurance is optional car insurance coverage that helps bridge the financial gap for drivers whose car loan balance is more than what their vehicl ...
is more than the value of your car, you may want to skip these coverage types. For example, let's say you have a car worth $1,500. You opted into comprehensive and collision insurance...
Like other forms of auto insurance, comprehensive coverage pays for part of the loss if your car is damaged. The vehicle owner will also have to pay a stated portion of the cost (known as...
Before purchasing life insurance, it's important to decide if you really need it, what type of policy is best, and how much coverage you should get.