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Questions tagged [insurance]

Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril

Simple Definition of insurance

An agreement in which a person makes regular payments to a company and the company promises to pay money if the person is injured or dies, or to pay money equal to the value of something (such as a house or car) if it is damaged, lost, or stolen

The amount of money a person regularly pays an insurance company as part of an insurance agreement

The amount of money that a person receives from an insurance company

http://www.merriam-webster.com/dictionary/insurance

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Can an insurance company legally sell an unclaimable policy?

Can a insurance company legally sell a policy that cannot be claimed? A colleague of mine has just returned from a visit to a country that's currently at war. He purchased a (very expensive) insurance policy beforehand. Before purchasing he…
Lima
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A car catches fire in a carpark. The resulting fire spreads destroying the entire carpark. Who is liable?

A car catches fire in a multi-story carpark. The fire spreads quickly from the car, igniting nearby vehicles, leading to a raging inferno that causes the collapse of the carpark. All the cars parked in the facility are damaged beyond economic…
anon
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How to mitigate the risk of getting sued by clients (web dev contracting)

I'm a web dev and I'm thinking about becoming a contractor. I feel a little uneasy about the possibility of someone potentially trying to sue me. If, for example, a client wants an e-commerce website and I build one for them, and then the client…
user1157885
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Can an insurance company drop you after receiving a bill and refusing to pay?

In June of 2018, I had a dental procedure done that ended with a total cost of about $1400. At the time, I was under my parents dental insurance. The dentist office confirmed my policy and claimed that I would pay 50% of the total cost and they…
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Why does the U.S. have much higher litigation cost than other countries?

According to the institute for legal reform (https://instituteforlegalreform.com/wp-content/uploads/media/ILR_NERA_Study_International_Liability_Costs-update.pdf), liability/GDP ratio is 1.66% which is almost three times that of the Eurozone. This…
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What happens when an insurance company cannot pay insurance because of natural circumstances?

Let's say there is a fire insurance company X with most of its clients from Region Y. Say that this was Company X's intent, with the knowledge that the following scenario might happen. A wildfire starts in Region Y, and Company X suddenly owes a lot…
mathlander
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What happens if an insurance company does not mention a critical clause of a policy during a telephone purchase?

Suppose one phones an insurance company and arrange and pays for car insurance. One then receives the documentation and there is an additional clause that was not mentioned that invalidates the insurance. Is this clause valid? The story that…
John
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Can earthquake insurance companies legally ask about "Other Insurance"?

California Earthquake Authority. §8 on Other Insurance says a. If there is other insurance that covers earthquake loss to the dwelling or other property covered under this policy,we will pay our share of the covered loss or damage. Our share is the…
personal_cloud
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Out of state driver in Michigan accident with 'no fault' law

I was recently involved in an accident in Michigan where I was stationary and was rear-ended, hard, resulting in enough damage to my vehicle that it's not drivable. I only have liability insurance and I'm insured in Maryland. Michigan has a 'no…
Egg
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Is it legal to file two insurance claims for the same loss?

Say my car started a fire and the fire caused damage to my house, resulting in a loss of $1000. Is it legal/ethical for me to file a claim with my car insurance while at the same time filing a claim with my house insurance? If yes, will I get $1000…
Zuriel
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How can one be compensated for loss caused negligently by someone who dies in the process?

Consider the circumstance where an at-fault driver negligently collides with an innocent driver, but the at-fault driver dies. Perhaps there is even evidence that the at-fault driver committed a crime in the process. How can the victim be…
Tongee Tomlinson
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What are possible motives for avoiding insurance in an auto accident?

My parked car was involved in a hit and run accident outside of my house. Luckily, one of my neighbors saw the incident happen and the other driver ended up getting caught and cited by the police for it. The driver is a minor, so his father is…
Jon Worek
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What are the legal risks associated with a business or organization that provides insurance for fare dodging?

I'm wondering about the legality of a system like planka.nu (Swedish subway fare dodgers) (More info here: NPR article and Planka.nu site) as they would be implemented in the USA. Is there any law or regulation that might restrict or prevent the…
Throsby
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I got hit twice by different drivers

A couple of months ago my car got hit while parked, causing a small dent. I got the other person's insurance information but didn't file the claim until last week. The other person's insurance accepted full liability, but I haven't fixed the small…
user29768
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United States: Can an insurance company sell a policy that pays fines and costs incurred by the policyholder knowingly breaking the law?

Is it legal in the United States for an insurance company to sell a policy that pays fines imposed on a person or corporation as a result of the policyholder knowingly breaking the law? An example of such a policy for individuals is DWI insurance: A…
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