Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [insurance]

The promise that something will be paid in case of loss. Used to cover important items and reduce personal risk. This tag covers how to get it, how to keep it, what kind, and why you should have it.

Insurance policies can be written for property, casualty or life. Insurance coverage can also be for specific events such as travel insurance or flood insurance.

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For very high-net worth individuals, does it make sense to not have insurance?

Various types of insurance (health, car, life) protect you from relatively low probability but very expensive events in life (cancer, serious car accident, etc.) For the average person, it makes sense to have these kinds of insurance, because we…
minou
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Why buy insurance?

I don't understand why people buy insurance when they know the odds are not in their favor. Is staying uninsured and saving money not a better bet? I am not talking about house insurance. About things of which cost can be covered by one. Laptop,…
shravan
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Tenant claims they paid rent in cash and that it was stolen from a mailbox. What should I do?

I own a duplex, live in half, and rent out the other half to college students. I have just made a mistake that cost me $750. One of my tenants was late paying her rent. I'd thought it was still late, but she informed me that she put it (roughly $750…
Anonymous
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Does it make sense to insure something when you could financially bear its loss?

I'm wondering whether it makes sense to insure something if its loss would not be life-changing. I want to buy a boat to live on while I attend university. It would cost about 10,000 dollars and my financial situation is good enough so that I would…
Pertinax
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Are small insurances worth it?

Small insurances like phone insurance, tire insurance, etc. Are these worth it? In general I always have a bad gut feeling about any insurance. I just don't like the idea of paying for stuff I never really use (especially medical insurance) But…
Paul Kruger
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1 year old car is dead, called the car dealer they can fix it only if I can bring it, what should I do?

I have a new Toyota Prius (2017 model), bought between 12-13 months ago. The car recently has gone totally mad (Ironically 1 week after the service). So I arranged a booking to get it checked out, but the car won’t start. On top of that, the car…
Maurizio Carboni
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Why does Geico ask me not to reveal the limits of my liability coverage in case of a car accident?

I read on my "Evidence of Liability Insurance card" issued by Geico in California, US: What to do at the time of an accident: […] Do not reveal the limits of your liability coverage to anyone. Why does Geico ask me not to reveal the limits of my…
Franck Dernoncourt
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Is insurance worth it if you can afford to replace the item? If not, when is it?

I am talking here exclusively about insurance for items (not for health or other type of insurance where lives and liability are at risk). Let's say I have a 1-year old Macbook (costs $2000+tax new) and the warranty is about to expire. Apple gives…
Daniel Benedykt
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Is life insurance a financially sound safety net?

I'm the sole provider of a household of two - myself and my wife. I make enough to keep us both afloat, with a sizeable chunk of luxury on the side. For practical numbers, I am a month away from paying off a student loan (less than $600…
Zibbobz
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Insurance company sent me huge check instead of pharmacy. Now what?

I received a $20,000 check from my insurance company that was supposed to go to my specialty pharmacy. It's made out to me. Since it was obviously a mistake, I called the pharmacy, and they said to sign it over to them and mail it. However, since…
aryxus
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Car insurance (UK) excludes commute to and from work, will not pay on claim during non-commute

My girlfriend was recently involved in a crash where both parties are claiming it was not their fault. She took out a policy with an insurance company called GoSkippy whose brokers are Eldon Insurance. Unbeknown to her is when she took out the…
dagda1
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Did my insurance company scam me when they paid less for my car than I saw it selling for at a used car dealership later?

Tree fell on my car, windshield smashed. Other than that I can drive it, I can still get in and drive it around (obviously with limited visibility) had to wear extra protection so I wouldn't get cut. Other than a few dents it looks good to…
user760783
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Why do people buy insurance even if they have the means to overcome the loss?

Insurance companies are businesses and their goal is to make money. It follows that if you are neither lucky nor unlucky, you will end up in the long run losing money by stipulating an insurance. I think this is a very simple concept that cannot be…
Andreas Bonini
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The mortgage company is trying to force us to make repairs after an insurance claim

We had some hail damage to our roof and deck after a bad storm and made a claim with our insurance company. The damage was in the 5 figure range, but the estimate for the deck was only a couple of thousands dollars. Our mortgage company made the…
Anthony Q. Sartin
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Who pays the premium for bank deposit insurance?

Normally, when I want insurance coverage (e.g. for my car and house), I have to pay a premium to the insurer. My bank account comes with deposit insurance to insure me against bank collapse. It looks like I do not have to pay any premium for the…
Flux
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