Will my policy cover legal defense costs?

Yes, public liability insurance usually covers legal fees and defense costs if a claim is brought against your business, even if the case is eventually dismissed. However, coverage limits apply, so ensure your policy offers sufficient protection for potential legal expenses.

Do term life insurance premiums increase over time?

Most term life policies have level premiums, meaning they remain fixed for the duration of the term. However, if you renew after the term expires, premiums will likely rise.

What types of insurance do insurers offer?

Insurers provide various types of insurance, including health, life, auto, home, liability, and business insurance, tailored to different customer needs.

Is blockchain adoption growing in the insurance sector?

Yes, many insurance companies are exploring blockchain solutions to enhance security, efficiency, and fraud prevention. Leading firms and consortia like B3i (Blockchain Insurance Industry Initiative) are developing blockchain-based platforms for industry-wide adoption.

Can I deduct homeowners or renters insurance on my taxes?

No, homeowners and renters insurance premiums are generally not tax-deductible unless the property is used for business purposes, such as a rental property or home office.

Does cyber insurance cover the cost of notifying affected individuals after a data breach?

Yes, cyber insurance often covers the cost of notifying individuals whose data has been compromised, including mailing, call center, and communication expenses.

Does comprehensive insurance cover rental cars?

It may cover rental cars if your policy includes rental reimbursement coverage. However, you should check with your insurer or consider purchasing additional coverage when renting a vehicle. Some credit cards also offer rental car coverage.

Can an insurance policy be canceled?

Yes, both the insurer and policyholder can cancel a policy. Insurers may cancel due to non-payment or fraud, while policyholders can cancel anytime, often subject to refund or penalty terms.