What types of UBI programs are available?

Common types of UBI programs include Pay-As-You-Drive (PAYD), which charges based on mileage; Pay-How-You-Drive (PHYD), which considers driving behavior; and Manage-How-You-Drive (MHYD), which combines both factors. Some insurers also offer Behavior-Based Insurance (BBI), focusing solely on safe or risky driving patterns.

Are environmental hazards covered by standard insurance policies?

Some environmental hazards, like mold or pollution, may not be covered under standard policies. Special endorsements or separate policies may be required for protection against environmental risks.

What does “grace period” mean in insurance?

A grace period is the additional time allowed after a missed premium payment before the policy is canceled for non-payment.

Why was the FCA established?

The FCA was established in 2013 as part of a restructuring of UK financial regulation after the 2008 financial crisis. It replaced the Financial Services Authority (FSA) and was given broader powers to prevent financial misconduct and protect consumers.

Are prescription medications covered under pet insurance?

Many illness policies include coverage for prescription medications, but some may have restrictions or require additional coverage for long-term medication needs.

Can I qualify for Medicaid if I am unemployed?

Yes, being unemployed does not automatically qualify or disqualify you for Medicaid. Your eligibility is based on your income and household size. If you lose your job and your income drops, you may qualify for Medicaid even if you were previously ineligible.

What happens to my NCB if I sell my car?

If you sell your car, the NCB remains with you, not the vehicle. You can transfer it to a new car you purchase by obtaining an NCB certificate from your insurer. However, the new owner will not benefit from your accumulated NCB.

What is a beneficiary in an insurance policy?

A beneficiary is the person or entity designated to receive benefits from an insurance policy, such as life insurance or retirement plans, upon the policyholder's death.