Does comprehensive insurance cover rental car costs?

Comprehensive coverage itself does not cover rental cars. However, if your car is stolen or being repaired due to a covered claim, rental reimbursement coverage (an optional add-on) can help pay for a temporary rental car.

Can a policyholder have multiple insurance policies?

Yes, a policyholder can own multiple insurance policies, including life, health, auto, and home insurance, to ensure comprehensive financial protection against different risks.

What is a ceding company in insurance?

A ceding company is a primary insurer that transfers part of its risks to a reinsurer to reduce financial exposure and maintain stability.

What are the limitations of blockchain technology?

Despite its benefits, blockchain faces challenges such as scalability issues, high energy consumption, regulatory uncertainty, and complex integration with existing systems. Addressing these limitations requires advancements in technology and supportive regulations.

What is the role of facultative certificates in reinsurance agreements?

Facultative certificates serve as formal evidence of the reinsurance agreement, outlining terms, coverage scope, and obligations of both the ceding insurer and reinsurer.

What does travel insurance cover for lost baggage?

Travel insurance typically covers the loss, theft, or damage of your checked-in and carry-on baggage. It provides reimbursement for lost personal belongings, including clothes, electronics, and travel essentials. However, coverage limits apply, and valuable items like jewelry or cash may have restricted compensation. Always check your policy details.

Can I reinstate my policy after surrendering it?

No, once a policy is surrendered, it cannot be reinstated. If you need coverage again, you will have to purchase a new policy, which could be more expensive due to increased age or health conditions.

How do exclusions affect claim settlements?

If a claim involves an excluded risk, the insurer will deny coverage, and the policyholder will be responsible for covering the loss out of pocket.