Insurance 2

What is insurable Interest?

An insurable interest exists when the applicant for insurance stands to suffer a loss or an injury as a result of an event which is to be insured against

What factors affect the cost of home insurance

Credit Rating Value of the property insured Construction of the building ( whether it is made of brick wood concrete and the construction of the roof) Number of claims on the policy Type of policy( basic broad or special) Distance to the nearest fire department and water supply Amount of deductible ( the higher the deductible, the lower the premium) Credit of the insured

What four types of health insurance would be included in a comprehensive medical policy

Dental, Vision, Major Medical Insurance, Regular Medical Insurance.

How does a renters policy differ from homeowners insurance

If you own your home, you need homeowners insurance with a personal property rider that covers such things as jewelry, computers, tv and electronic equipment. Homeowners insurance covers the house and its contents. Renters insurance is for people who rent a house or apartment and want to cover the contents only. They can't insure the building, only their furniture, etc.

What are financial Responsibility laws ?

Laws that protect the public from financial loss caused by drivers

what are the two main categories of automobile insurance coverage?

Personal Injury Coverage Laws and Property Damage Coverage

What are the three main types of property insurance coverage

Personal Liability Coverage, Homeowners policy, Depreciation

What is the difference between term and permanent insurance

Term insurance is more basic and permanent is more advanced insurance

What factors affect the need for life insurance

Your Age, Your Health History., Your Current Health, Your Weight., Your Occupation, Smoking.,Your Family History

What factors affect the cost of automobile insurance?

Your Coverage And Deductibles, What You Drive, How Often, And How Far, You Drive, Where You Drive, Your driving record, Your Age, Sex, And Marital Status

What is the purpose of disability income insurance

to provide replacement income in the event someone can no longer work due to an illness or injury