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Insurance Specialties

Insurance, United States, Florida, Sarasota

Insurance Specialties provides expert solutions for all your insurance needs, ensuring peace of mind and financial protection for individuals and businesses alike.

About Insurance Specialties

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Basics

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Founded
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Total Employees
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Employees on Linkedin
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Employees on OWCareers
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Main Office
United States, Florida, Sarasota
Official Website
http://www.insspecial.com
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Other Insurance companies in United States, Florida, Sarasota

FAQs – Insurance Specialties

What is a policy lapse in insurance?

A policy lapse occurs when a policyholder fails to pay the premium by the end of the grace period. Once lapsed, the insurance company is no longer obligated to provide coverage, and any benefits or claims may be denied.


Do independent contractors need workers' compensation insurance?

Independent contractors are generally not covered by workers' compensation, but some states require certain contractors in high-risk industries to carry their own coverage.


How do I choose the right term length for my policy?

Choose a term length based on your financial responsibilities. If you have a 20-year mortgage, a 20-year policy ensures coverage until the loan is paid off. If you have young children, a 25- or 30-year term might be best to cover their education and living expenses until they are financially independent.


What happens if I don’t have insurance?

Without insurance, you are fully responsible for any losses, damages, or medical expenses. This can result in significant financial hardship, legal penalties (such as fines for driving uninsured), or the inability to recover from major accidents.


What are policy exclusions in insurance?

Exclusions are specific situations or risks that an insurance policy does not cover, such as pre-existing conditions in health insurance or intentional damages in property insurance.


What role does an insurance adjuster play in a claim?

An insurance adjuster is responsible for investigating and evaluating the details of an insurance claim. This includes assessing the damages, reviewing the policy terms, and determining the appropriate payout. The adjuster may gather information from the insured, witnesses, and experts, and sometimes negotiate settlements. Their goal is to ensure the claim is valid and the insurer pays an appropriate amount based on the coverage and the nature of the loss.


Does product liability insurance cover international sales?

Some policies cover products sold internationally, but coverage depends on the insurer and policy terms. Businesses selling abroad should check for global coverage or purchase additional protection.


What are the risks of variable life insurance?

The main risk is market volatility, as poor investment performance can reduce the cash value and potentially impact policy sustainability.


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