Does pet insurance cover routine check-ups?

Yes, if you add routine care or wellness coverage to your policy. Basic pet insurance plans typically cover accidents and illnesses, but wellness add-ons help cover regular vet visits, vaccinations, and preventive treatments to maintain your pet’s overall health.

Can bad weather affect my UBI score?

UBI programs generally focus on driver behavior rather than weather conditions. However, factors like sudden braking or slow driving due to rain or snow might be recorded, so insurers may consider contextual data in evaluations.

Can insurance policies be customized?

Yes, many insurance policies allow for customization with additional riders or endorsements. These add-ons provide extra coverage for specific needs, such as critical illness or accidental death benefits.

How does AI improve risk assessment in underwriting?

AI analyzes vast datasets, including historical claims, customer behavior, and external risk factors, to generate accurate risk scores. By identifying patterns and anomalies, AI-driven models help underwriters make data-driven decisions, reducing fraud, improving pricing strategies, and ensuring fair risk assessment.

What is the FCA’s approach to innovation in insurance?

The FCA supports innovation through its Regulatory Sandbox, allowing firms to test new insurance products, technologies, and business models while ensuring regulatory compliance and consumer protection.

What should I do if a claim is made against me?

Report the claim to your insurer immediately, provide relevant evidence, and cooperate with the insurer’s legal team.

Is liability insurance mandatory?

Yes, liability insurance is required in most states. Each state has its own minimum coverage limits for bodily injury and property damage liability, which drivers must meet to legally drive on the road.

Can an out-of-pocket maximum be different for in-network and out-of-network care?

Yes, most plans have separate out-of-pocket maximums for in-network and out-of-network providers, with out-of-network expenses often having higher or unlimited costs.