How often do I need to pay my insurance premium?

Insurance premiums can be paid monthly, quarterly, semi-annually, or annually, depending on the insurer and the policy. Some people prefer to pay annually to avoid frequent payments, while others opt for monthly installments.

Does homeowners insurance cover injuries to guests?

Yes, liability coverage pays for medical expenses and potential legal claims if a guest is injured on your property due to negligence, such as slips, falls, or dog bites.

What is catastrophe reinsurance?

Catastrophe reinsurance is designed to protect insurers from extreme losses caused by large-scale disasters like hurricanes, earthquakes, or floods.

How do I purchase E&S insurance?

E&S insurance is typically purchased through licensed surplus lines brokers who specialize in placing high-risk policies. These brokers work with non-admitted carriers to secure coverage tailored to the client's unique needs, ensuring they find the best available options.

What are the benefits of UBI for drivers?

UBI offers potential savings for safe or low-mileage drivers, personalized premiums, improved driving awareness, and sometimes additional benefits like roadside assistance or vehicle diagnostics.

How can I reduce my copayments and coinsurance costs?

Choose an insurance plan with lower cost-sharing, visit in-network providers, use generic drugs, and seek pre-approvals for expensive procedures.

What is the difference between short-term and long-term disability insurance?

Short-term disability (STD) insurance covers temporary disabilities for a few weeks or months, usually up to 6 months. LTD insurance covers longer-lasting disabilities and typically begins after STD benefits end. LTD benefits may continue for years or until retirement age.

What is a "retention" in a treaty reinsurance agreement?

Retention refers to the amount of risk that the primary insurer retains in a treaty reinsurance agreement. It represents the portion of losses that the insurer is responsible for before the reinsurer steps in to cover additional losses. A higher retention means the insurer assumes more risk, while a lower retention means the reinsurer assumes a larger portion of the risk. Retention levels are typically negotiated based on risk tolerance.