Insurance FAQ
 

Does Use Of A Hot Water Heater Blanket Affect Insurance Coverage?

Question by Old School Slots | Posted in Maintenance & Repairs

I went to Home Depot to buy an insulating blanket for my hot water heater. My local store doesn't carry them. The sales person told me that if there's a water heater fire, and you're using a water heater blanket, most insurance companies won't provide coverage for the damage. I would have thought that manufacturers would be smart enough to make them out of fire-resistant materials. I couldn't find anything in my HO policy about this issue, but I may have missed something in the fine print.

Answer: I'm a plumber in CA and from what I understand, all it does is void the manufacturers warranty for the WH.
 
 

Do You Think It's Smart To Start Off With The Most Basic Insurance Coverage?

Question by AfreeSPIRIT | Posted in Insurance & Registration

I am a full-time student and I am about to buy my first car......I don't wanna spend too much...I mean, I'm a pretty safe driver and I drive the speed limit.......do you think it's okay to buy the cheapest/most basic insurance coverage until I am out of school and making more money? I am 19 years old, by the way.

Thanks!
I'm thinking of buying a '96 Jeep Cherokee:)

Answer: Luckily young people have less assets to risk, if you plowed into car full of people you won't be loosing your $300,00 house in a settlement, you would just claim bankruptcy. If you are driving a junker not worth a lot more than a $500 to $1000 deduction, you might pass on full coverage. You could customize a policy, perhaps medical for you bot zero car for the clunker.

Later when your a big success it might make sense to add more than the minimum liability (some states have gone 30 years without adjusting the minimum coverage figures.) with full comp and collision.

Here's the insurance prices for the 5 cheapest 2009 models (quoted for a 40 year old guy)

Related Topics:

Long Term Care Insurance Need
Conestoga Insurance
Hospital Insurance Company

 
 

What Insurance Company In America Is Insuring Smart Cars?

Question by greatgrannyalice1 | Posted in Insurance & Registration

I have a 2007 Smart and my insurance has recently informed me that they will not renew my coverage because of the type of car that it is.

Answer: I found the best options here. Good luck!
http://all-car-insurance.blogspot.com/

Related Topics:

Long Term Care Insurance Agent
Secondary Dental Insurance
Real Estate Errors And Omissions Insurance

 
 

Do I Still Need Full Coverage Auto Insurance?

Question by wolverine | Posted in Insurance & Registration

My car is worth $3,000 and I drive approximately 200 miles per week. I currently pay $517 for 6 months of full coverage. My basic collision deductible is $400. Would it be smart to drop down to PLPD insurance and not have full coverage??

Answer: It depends.

If your car is stolen, or totalled by an uninsured driver, will you have a hard time coming up with the $3K to buy another $3K car? If so, then you should keep the "full coverage".

Related Topics:

Mga Insurance Company
Family Dental Insurance Plans
Alabama Insurance License

 
 

How Many Hoops Do I Have To Jump Through To To Get A Refund From Bank Of America Or Smart Step Insurance.?

Question by stewie | Posted in Insurance

These people have charged me 20 dollars a month for five months for a policy that I never signed for or even asked for.I've never seen a policy from smart step informing me of what type of coverage I am paying them for. How can they do this!

Answer: Bank of America creates so many hoops that many customers simply decide to be charged rather than spend the time to fix the problem. I find that the best solution is to file a complaint with the Better Business Bureau; once that is done, BofA will resolve problems quickly, or at least pay off the person who complains, in order to avoid damage to their rating.

Related Topics:

Condon Insurance
Bristol West Insurance Company
Interwest Insurance

 

Time Period Life Insurance Coverage Definition | Business Solutions

by kilobugs

Term life insurance is life insurance coverage that provides protection for the named insured over a stated interval of time. Lowering Time period – This coverage is mostly related to mortgage safety insurance. A thirty 12 months mortgage for a house owner is appropriately insured by a thirty yr lowering term policy for a similar mortgage amount. Time period insurance has no equity or money value accumulation and so it is primarily purchased for the security provided by the loss of life benefit. Term Life insurance has been with us for a long time. There are three basic forms of time period life insurance. That’s what differentiates it from other types of life insurance....

Read more...
© 2011 Insurance FAQ