What happens if I don’t use all my routine care benefits?

Most wellness plans have annual limits, and unused benefits do not roll over to the next year. If you don’t use all the covered services within the policy year, you forfeit those benefits. Some pet owners prefer setting aside savings instead of buying a wellness plan for this reason.

How does a waiting period affect disability insurance?

Disability insurance policies often include an elimination period (waiting period) before benefits start, typically ranging from 30 to 180 days. The longer the waiting period, the lower the premium cost.

Does the insured always have to be the primary person in a policy?

No, in some cases, someone other than the insured may be listed as the policyholder, such as when a parent buys an insurance policy for their child.

What is the future of AI in underwriting and claims processing?

The future involves deeper AI integration, real-time data analytics, and personalized risk assessment. AI-driven insurance models will offer on-demand underwriting, predictive claim settlements, and more proactive risk mitigation strategies, improving efficiency across the industry.

Are there protections against insurance fraud?

Yes, insurance fraud laws prevent both consumer and insurer fraud. State and federal agencies investigate fraudulent activities, and violators may face fines or imprisonment.

Does product liability insurance cover design defects?

Yes, product liability insurance can cover claims resulting from design defects in products, such as when a product is inherently dangerous due to its design.

Can liability insurance cover hit-and-run accidents?

Liability insurance typically does not cover hit-and-run accidents unless you have uninsured motorist coverage. If the at-fault driver cannot be identified, uninsured motorist coverage may help cover the costs for your damages and injuries.

What industries benefit most from parametric insurance?

Industries such as agriculture, tourism, construction, energy, and transportation benefit from parametric insurance due to their exposure to weather-related disruptions and catastrophic risks.