Does auto insurance cover all types of accidents?

Auto insurance typically includes liability, collision, and comprehensive coverage. Liability covers damages to others, while collision covers damages to your car from accidents. Comprehensive insurance protects against non-collision events like theft, vandalism, or weather damage. However, standard policies do not cover intentional damage or mechanical breakdowns.

How did life insurance evolve into different policy types?

Life insurance expanded to offer term, whole, and universal policies, catering to various financial needs and risk tolerances of policyholders.

What is facultative obligatory reinsurance?

It is a hybrid model where the reinsurer must accept certain risks, but the primary insurer still has discretion over which risks to cede.

Does business interruption insurance cover pandemics?

Most standard policies do not cover pandemics or infectious disease outbreaks unless explicitly stated. Many policies require physical property damage to trigger coverage, making COVID-19-related claims difficult to qualify under traditional terms.

Can I reinstate my policy after surrendering it?

No, once a policy is surrendered and payout is received, it cannot be reinstated; a new policy must be purchased if coverage is needed again.

What are non-admitted carriers in E&S insurance?

Non-admitted carriers provide E&S insurance and are not licensed in a specific state but must meet financial stability requirements.

What does travel insurance typically cover?

Travel insurance covers unexpected expenses during a trip, such as trip cancellations, medical emergencies, lost luggage, and flight delays. Some policies also include coverage for emergency evacuations and rental car damage. Coverage depends on the type of plan purchased.

Will filing a claim increase my premium?

Filing a claim may increase your premium, especially if you have multiple claims within a short period. The impact depends on claim type and insurer policies.