ELI5: Risk of rate hike due to "lapse in coverage" while not owning a car Insurance |
- ELI5: Risk of rate hike due to "lapse in coverage" while not owning a car
- Anything I should do for this Car Accident/hit and run?
- Lost Home Sale Due to Burst Pipe
- Minor accident in rental car
- The US Health Insurance system is an abomination... tell my why I'm wrong.
- My car was hit yesterday. Any ideas if it’s totaled?
- I was quoted really high for my car insurance and I have a question.
- Someone hit my son's parked vehicle...
- Insurance company won't honor quote for homeowners policy (US TX)
- Commercial General Liability Insurance in Canada.
- TL;DR Hit and run left my vehicle totaled
- Other driver’s insurance is only claiming 70% liability
- Car totaled 100 miles away, insurance wont reimburse travel
- Health Insurance in my name but employer pays invoice. (Not an employer sponsored plan). How do I maintain coverage when I change jobs eventually?
- Claim denied due to damage before owning the house
- Car Insurance question
- Auto insurance question
- Will insurance cover water damage from a leak I caused by mistake?
- No Cooperation By At-Fault Party
- Rear-ended at stoplight, exchanged info, went on each other’s way, now back pain.
- Workers comp question
- Being sued for "no more than $55,000". Insurance policy says they will cover 25k for 1 person. What should I do?
- Will a hail damage claim on commercial roof raise premiums in Texas?
- Car Insurance
- Help deciding on life insurance
| ELI5: Risk of rate hike due to "lapse in coverage" while not owning a car Posted: 03 Jan 2018 08:33 PM PST I own a car that was totaled last month. I have been living in a large city for the last 7 months and have been able to get around without my car by walking, using my bike, the train, and Uber. Now that the car is totaled, I do not plan on replacing it until I move again, likely in another 4 years. The only times I plan on driving a car between now and then would be on short trips to visit my family, when I might drive my mother's car to pick up some groceries or run other errands; essentially, less than 500 miles per year, if that. I do not plan on renting a car ever, but I concede I may end up renting a car up to twice a year (though this is unlikely). Given my anticipated driving needs, I was not planning on getting a non-owner's policy. My insurance company informed me that allowing this "lapse in coverage," despite being a non-owner (and essentially non-driver) would likely lead to an increased rate down the road when I decide to again own a car. I understand this is because I would be viewed as a high risk driver since I had not been insured for however long a period of time. I have been reading about this online and understand I would still need to purchase physical damage coverage if I were to rent a car. Additionally, I would likely be fully covered by my mother's insurance policy if something were to happen while driving her car. My question is whether it is worth it to get a non-owner's policy with the lowest possible coverage just to avoid the "lapse." Is there anything I should really make sure I am covered for on this policy, or can I get it as bare-bones as possible? What are the actual financial ramifications of not getting the non-owner's policy? Would they last for several years, or just for the first six months after re-instating my insurance? [link] [comments]  |
| Anything I should do for this Car Accident/hit and run? Posted: 03 Jan 2018 11:24 PM PST I was driving down the highway in Austin TX yesterday, during cold and icey conditions. I was a good 50-75 feet away from a red truck in front of me. I saw it appeared to be changing lanes, but his turn was much to sharp. Unsurprisingly, he started spinning out. He did a 360 at least two times, across all 3 lanes. I slammed the breaks, but I ended up hitting him in the back of his truck during the final spin. He drove off immediately, no where to be found. At least 3-4 cars behind me wrecked during the crash. No one hit me, and everyone was mostly ok. I only have liability insurance, and I might have uninsured motorist insurance I need to double check. Insurance is Nationwide. I'm just wondering if there's anything I should do. I've had people tell me unfortunately it is ALWAYS your fault if you hit someone from behind. It makes no sense as the guy was moving horizontally through multiple lanes for a good 4-6 seconds, but I understand it might still be the case. Is there anything I should do or should I just move on? [link] [comments]  |
| Lost Home Sale Due to Burst Pipe Posted: 03 Jan 2018 05:08 PM PST Hi everyone. I'm in Philadelphia, PA and looking for some answers during a crazy time. My condo was pending sale when a pipe burst in the condo above me and soaked my place on Jan 1. Settlement for the home sale was scheduled for Jan 3. Absolutely terrible timing. Servpro restoration services has already begun pulling out the damaged drywall and carpets. Today, the buyers requested to terminate the sale agreement. I have already moved into a rental property and cannot terminate my lease. Will the insurance pay for "displacement" for my unit since I can't re-list it until the renovations are complete? I'll have to pay a mortgage payment AND a rent payment and I'm scrambling to try to figure this out! Thanks in advance! [link] [comments]  |
| Posted: 04 Jan 2018 01:56 AM PST I was involved in a minor rear end accident while driving a rental car. I was at fault. I was contacted by the other drivers insurance today and I think I am in a real big pickle which has got me extremely anxious and worried about what will happen. I am not disputing who is at fault in this situation, but the biggest complication is that the rental was not rented under my name, it was rented by a friend who was also in the car at the time whom I took over for since she needed a break from driving. She had not anticipated this and did not put my name as an additional driver at the time of rental. At the time of the accident after everyone pulled over to the shoulder, the other driver and his passenger got out of their car and I checked with them, they said they were okay, calm and not distressed. The visible damage from my perspective was minor, a few paint scruffs and minor misalignment on the bumper? (could not tell if it was from the accident since there was already a large dent in the bumper which he said was preexisting) The rental was relatively undamaged visually aside from bent license plate (rental was returned with no questions asked). We exchange information and we both drive off. Today I get a call from their insurance claiming their client is filing for a claim stating they have a nonfunctional vehicle needing repairs and bodily injuries (seems they are aiming for maximum compensation - not questioning these claims, they may in fact be legitimate). The agent also said that the other driver's insurance does not cover vehicle damage so 100% of the cost will have to come from our end. He suggested I work with my friend to figure out who will foot the bill. He said the chain of action will be that they will go after my friend's (the renter's) insurance first, and if they do not claim liability then it will fall to my insurance. So I called my insurance and asked about the chain of action. My insurance said the same thing; they will first go after the renter's insurance since my name is not on the rental agreement. Then if they do not claim liability my insurance will be next. BUT my insurance also said, since my name was never on the rental agreement, they can potentially ALSO not claim liability, at which point it will fall on me to provide compensation. And they can come after me under the pretense that I was an uninsured driver since my insurance company is not willing to cover me. (This is the scariest part). I talked to my friend and she has started a claim under her insurance, and logically I assume they will contact me to start one under my insurance company soon. But aside from that I dont really know what to do next, I've never been in a situation where I needed to open a claim. If I could just claim responsibility and have my insurance cover everything, that would be the best case scenario to get this solved as quickly as possible, and to not drag my friend through what I've caused, but it doesn't seem like that is a straight forward option. Thanks /r/insurance, Any advice would be helpful. [link] [comments]  |
| The US Health Insurance system is an abomination... tell my why I'm wrong. Posted: 03 Jan 2018 07:36 AM PST So I recently had a scare at work where my company's insurance broker did not send the new plan information for 2018 to our insurance provider, and had my wife in the hospital on New Years Day and a bunch of prescriptions to pick up the next day. While they are fixing it, I have to pay for things out of pocket and then hopefully get reimbursed. So everything will likely turn out fine, just with some additional hassle... but it got me thinking. What if I had missed the insurance sign up cutoff for my company? I would have gone from someone with a good job and good insurance to someone who would likely be bankrupt by medical bills due to a complicated pregnancy and pre-existing conditions racking up bills while I was without insurance for a year. So I thought... hmm... maybe I would have to quit my job so I could buy through the public exchanges. But wait, there is clause that says the insurance only starts at the first of the next month. So while my wife was going in to the hospital 3x a week for screenings, we'd be paying out of pocket and losing all of our savings. Thankfully, that's likely not going to happen. But isn't it insane that it even could happen? Forget to click a few buttons and then BAM, you're bankrupt. Sorry... that'll be my rant for the day. [link] [comments]  |
| My car was hit yesterday. Any ideas if it’s totaled? Posted: 03 Jan 2018 02:44 PM PST Here's a picture for reference: https://imgur.com/a/TR7FP I know it could be much, much worse, but I'm wondering if it's totaled. The insurance company totals it out if the cost exceeds 65% of the value. KBB says it's worth roughly $3,500 and Autotrader listings in my area are around $4,300 (2.5S, 144k miles). The following parts are damaged as far as I can tell: the rear driver quarter panel, bumper (mainly just the paint), both taillights, and the trunk. In addition to the trunk being busted, it's also out of alignment and now slightly overlaps the passenger rear quarter panel. Also, neither of my turn signals work, but I'm assuming that's a minor issue. Anyways, I guess my question is if anyone here is familiar with the repair cost of an Altima with this type of damage. The car runs fine, so my main question is if the repair cost is going to exceed 65% of what it gets assessed at. [link] [comments]  |
| I was quoted really high for my car insurance and I have a question. Posted: 03 Jan 2018 06:20 PM PST So I'm a new driver I just turned 18 and got my license when I turned 17. I live in Salt Lake City. I am currently financing a 2007 BMW 335i and I needed to get insurance but no matter what I do I'm quoted around $350 per month. Now I obviously won't be able to pay this much so is there anything to do to reduce that? If my Dad puts the car on his insurance and adds me as a driver will that take it down? [link] [comments]  |
| Someone hit my son's parked vehicle... Posted: 03 Jan 2018 01:36 PM PST My teenage son's car was legally parked on a residential street and was backed into by someone driving a van for a local organization that serves developmentally challenged individuals. There were no injuries and police officer came out and filed a report. If it matters, I'm in Indiana. I figure this is a pretty common scenario, but I've done a bit of searching on the Internet in addition to reading to the FAQ and I still have a couple of questions...
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| Insurance company won't honor quote for homeowners policy (US TX) Posted: 03 Jan 2018 03:07 PM PST A major U.S. insurance company quoted me a price for homeowners insurance. I accepted in mid-December and paid for the entire year with my credit card. Two weeks go by and they send me a bill for another $90. When I called their office and asked for an explanation, this is what they replied: "Once I send an application to Underwriting, the premium can change. What I provide in the office is a quote. I spoke to Underwriting and after reviewing the application, they adjusted the premium causing the balance due." This strikes me as highly dishonest. Do I have any options besides (a) paying the $90, or (b) taking my business elsewhere? [link] [comments]  |
| Commercial General Liability Insurance in Canada. Posted: 03 Jan 2018 12:15 PM PST Hello I'm looking for a company in Canada that offers Commercial General Liability Insurance. I'm wondering if someone can give me a list of companies that offer this? Thank you. [link] [comments]  |
| TL;DR Hit and run left my vehicle totaled Posted: 03 Jan 2018 04:24 PM PST Recently my car was totaled due to a hit and run. I was at my boyfriends house parked in his drive away and this guy was running from another person he had hit, he thought the drive way was a road so he came flying in at like 40mph and hit my friends Toyota Tacoma into the back of my Elantra. The Tacoma was fine but my car was totaled, and the guy took off. The first person he hit stuck around because she chased him down and got his license plate. My insurance company (progressive) paid off my vehicle and took out the deductible of $500, and I have a new car now. The police said the guy is a felon wanted in Arizona with multiple warrants based on his license plate. I just got a letter today that my insurance companies is pursuing him for the deductible but he is either being uncooperative/unresponsive (big shocker). Even though they are going after him, should I as well? I was too busy with trying to find a new vehicle to get to work and school when all this happened it just seemed easier to go through the motions If that makes sense. [link] [comments]  |
| Other driver’s insurance is only claiming 70% liability Posted: 03 Jan 2018 07:27 AM PST I was in a recent car accident where the driver ran a red light. I had the green light in a well lit area. As I was proceeding through the intersection (I was more than halfway across the intersection at this point), the other vehicle approached the intersection on my lane. Say, I was going north and she was going west. I honked my horn as I saw her car and turned my vehicle in the direction she was going to avoid any further damages. She got the citation obviously, but her insurance is only claiming 70% liability because I did not look both ways before crossing the intersection. Even if I did look both ways, I was already halfway across the intersection with a green light while she was probably a quarter of the way through. And if I had the green light, I don't think I should treat it like a stop sign where I look before I go. Should I fight this anymore or just settle for 70/30? [link] [comments]  |
| Car totaled 100 miles away, insurance wont reimburse travel Posted: 03 Jan 2018 06:32 PM PST Pretext. Collision/Comp coverage on the car. Other party at fault. Everything paid out including deductible except travel expense. NY state About 4 months ago my car got totaled over 100 miles away from home on my way back to home at 2am. Car was non functional, had to get a rental in the middle of a night from an airport to get back home. Cheapest rental at the airport was $220 (partly expensive because its a one way trip). Insurance only covered $20 from that under "rental" and covered other $22 taxi receipt to get to the airport. However the rest of the travel to get back home is deemed as "rental" and not "travel" so they will only cover the $20 a day max. Text from insurance website directly "Travel Expenses – pays for meals, lodging, and transportation home or to your destination – up to $500 for all covered individuals – if your car isn't drivable because of damage done more than 50 miles from home that's covered by your comprehensive or collision insurance. A return trip to pick up your car is also covered." They have closed the case and told me I have to call the other insurance and try to collect myself. Their company is only limited to cover the $20 a day and they did. Am I wrong in reading the language that company will cover $20 a day for regular rental but since we had to rent a car to get back home it should be covered under "travel expense" to help us get back to home/destination? The agent has claimed that I should have rented a hotel, stayed until the morning, called adjuster, gotten myself a rental from the insurance but when asked if they would have covered the entire fee that way, the agent said that no they would cover only $20 a day max. I'm at a loss of words. Seems travel insurance addition doesn't cover the cost of travel to get back. [link] [comments]  |
| Posted: 03 Jan 2018 06:23 PM PST COBRA won't be an option since my employer does not actually have a health insurance plan, they just pay my invoice. I've heard horror stories about short term health insurance. Are there any other options? Bonus question: Why is health insurance so fucking frustrating? It's like they're trying to make our lives more difficult. [link] [comments]  |
| Claim denied due to damage before owning the house Posted: 03 Jan 2018 05:49 PM PST There was a storm that occurred a few days before my closing date. This damaged some of the roof (still livable, still good for a few years, but still some damage). The storm occurred after the home inspection, and before the final walkthrough, so I closed without knowing about the damage. Put in a claim and obviously got denied for that damage. Was asked to provide previous owner's information in order to get it fixed by their insurance company. Was told I'm not allowed to know personally the previous owner's insurance company, but did go to my realtor to try to get it fixed. Their insurance company said no, because the claim was filed AFTER they sold the house. Another storm occurred in April. New damage happened on the roof. Filed a claim, and fought back and forth for MONTHS until now. With a final "we're-not-gonna-budge" decision of NOPE! Their reason was: since there was previous damage to the roof, and it was not fixed, they will not fix it. The roofing company I've been talking to has stated that it makes no sense....When they did an inspection, there is NO way of knowing which is "old" damage and which is "new" damage, and therefore, doesn't matter that there was previous damage. My insurance is denying the claim, essentially saying that unless we fix the roof ourselves, any damage that happened from the initial damage won't be fixed by them. There's another storm this week....they're essentially saying if my roof gets damaged again, they will not touch it. Is this right? It makes ZERO sense to me. Do I even have a case? Edited to add: So, they're right in denying our claim of the new damage that occurred while we actually owned the house? I have to fix the roof myself, if I want any future damage to be fixed by the insurance company? [link] [comments]  |
| Posted: 03 Jan 2018 01:34 PM PST I am a 24-year old on my parents' insurance. I was recently in an accident with a friend where my front bumper collided with his rear bumper. He stopped on orange light and I bumped into him on a slippery, snowy day, my fault. We recorded the situation and created a police report, but otherwise no claims have been made yet -- I have spoken to my insurance agent and all she's saying is that anything under $2k should have no effect on increasing deductibles(rates**) in the future. The cost of his repairs, including replacing the bumper and car/paint labor comes out to $947. Do I trust them and make a claim? I am two years out of college with very little disposable income. Thank you guys for your help and if any other details would help please let me know. [link] [comments]  |
| Posted: 03 Jan 2018 05:05 PM PST I'm a 23 year old male, just hit a deer and using the insurance money as a down payment for a new car. And I've got some questions about where to get my new policy at, I've been under my parents insurance, but since In buying the car I have to start my own policy. I live in Maryland. Outside of the deer I have no other accidents. I have one speeding ticket in late 2015 (92 in a 65). Im buying a 2014 Jetta S with 7,300 miles on it. The confusing part for me, my grandmother will be my co-signer, but there's no need for her to be on the policy. Can I take a policy out without her on it, even though she's co-owner? Also I need to put my mom on the policy in case she needs to use it. I didn't think that would add any issues but wanted to make sure. I've priced quotes from different companies, but I was curious about people's recommendations on company's, or any other insights you guys have. Thanks in advance! [link] [comments]  |
| Will insurance cover water damage from a leak I caused by mistake? Posted: 03 Jan 2018 04:58 PM PST Due to several problems with flushing/refilling I decided to buy a whole toilet repair kit and replace all the innards of the toilet in our upstairs bathroom. The repairs were pretty easy, and after i was done i checked for an hour or so afterwards to make sure there weren't any leaks, and everything seemed to be fine. When i came home from work today I found two huge water bulges in the (brand new) ceiling in our kitchen below the bathroom, and saw a very slow but persistent leak from one of the bolts in the toilet, which appears to have somehow worked through the tile or under the vanity to the ceiling below. Apparently the bolt wasn't tight enough, or the rubber washer leaked, or something, I'm not sure. I've drained the water from the ceilng as best I can, but now i need to see about getting the ceiling repaired and make sure it's totally dried out so i dont have any mold problems. Does anybody know if homeowners insurance is likely to cover the damage from the leak if it's caused by a repair that i made myself? If so should I contact them first or should I contact some water repair companies to get estimates before filing the claim? [link] [comments]  |
| No Cooperation By At-Fault Party Posted: 03 Jan 2018 10:26 AM PST So, I don't have collision on my car and it appears the at-fault party isn't cooperating with their insurance company. My wife, who was driving my car, does have collision on her policy. Would her policy kick in as "secondary" in this situation? [link] [comments]  |
| Rear-ended at stoplight, exchanged info, went on each other’s way, now back pain. Posted: 03 Jan 2018 09:30 AM PST My wife was rear-ended this morning at a red light and from the inside, she said it felt like it was bad. Upon checking out the rear, damage was minimal (cracked bumper) so they exchanged insurance and went on their way. Fast-forward to now, 3 hours later, and her back is hurting. We haven't started any claims process yet so there's nothing on record, but is it too late to claim injury if the police were not on the scene? I was going to put in a claim with our insurance here in a few minutes and wanted to get some info from y'all. Thanks. [link] [comments]  |
| Posted: 03 Jan 2018 03:22 PM PST An employee in Michigan slipped in their employer's parking lot on some black ice. No negligence. This was witnessed by a co-worker. The person saw a doctor and a simple arthroscopic surgery was needed. Total cost was around $4000. What consequences might the employer experience from their comp carrier? [link] [comments]  |
| Posted: 03 Jan 2018 08:34 AM PST Last January I made a right turn kinda fast on some ice and my brakes locked up and I swerved into some one at the red light in the left lane. As far as I can remember she needed a new bumper and maybe another headlight but my car was a lot worse. She was very mad about it since she apparently just got that car. When the police came he told us to pull into a gas station that was next door and gave me a ticket and maybe her one too? I can't remember but I do remember him asking her if she was injured and she said no. I was not injured either and we exchanged insurance Info and the cop said we can leave. About a month later I get my car fixed and I had to pay $1k out of pocket. I think it's all done but this morning at 530 a cop knocked on my door and told me I was being sued for this accident for 55k. I only make $10 a hour and am just about to pay this car off. I still live with my mom I'm 20 years old. I have no savings. This is in Tennesee. During my lunch break I'm taking these papers to my insurance. What should I expect during this whole process? I'm worried I will get my wages garnished or that they will take my car. My insurance policy says it will cover 25k a person and 50k for like a whole claim. I really hate stressing about this can someone explain if I need to do anything other than give this summons paperwork to my insurance? [link] [comments]  |
| Will a hail damage claim on commercial roof raise premiums in Texas? Posted: 03 Jan 2018 02:08 PM PST We have a tar and gravel roof on one of our commercial buildings that has probably been around for at least 20 years. A public adjuster is telling me he can get us a new roof on insurance nearly for free (just deductible price). He says that since hail storms are considered a casualty, our premiums won't raise, but that an insurance company may decide to deny us coverage. Also note, we have been dropped from our previous insurance company (State Auto) whom which we had been with for three years and are just now signing with a new insurance company (TBD within a day or two). My understanding is that our claim will be filed with the previous insurance company quickly before the time period in which we can do so expires. So hopefully filing a claim with our previous company won't raise our premiums with our new company. Thanks! [link] [comments]  |
| Posted: 03 Jan 2018 01:45 PM PST Hello everyone, I was in a pretty bad wreck a few weeks back and I was finally given a place to take car in for inspection by the insurance company. I was tboned on passenger and totaled both doors and front bumper. I drive a 2008 Honda accord with 155k miles. A car like mine in good condition would sell for about 5,000$ tops. The cost of repair would be 3,700$ flat. The person that hit me has accepted liability but the insurance company wants to fix it and not total it. Should I fight this and try to have car totaled so i can get a new one? I feel as if the insurance company is completely trying to fuck me on this one to save some money. Thankyou for any suggestions. [link] [comments]  |
| Help deciding on life insurance Posted: 03 Jan 2018 01:16 PM PST I had a question about life insurance and wanted to get opinion from members who are knowledgeable in this field. I am a 40 year old female. I currently have the group life insurance that my employer offers - a one year pay upon death policy (about $115K). other details - I have a husband a 2 year old kid. In terms of liabilities, we currently have a mortgage which has around $380k pending and no other bills. We pay all credit card bills in full every month. Our gross income is around $210k combined and we are contributing to max out our 401Ks. My husband has a Variable Annunity life insurance (with Minnesota Life) which has a death benefit of $262k and a cash value of around $29k. This is in addition to his office provided group life insurance of 1x of his salary. Given the high mortgage amount that is pending and given the fact that if something happens to me, my husband will not be able to afford paying the mortgage on the house, a financial advisor who does regular visits to my office told me that it would be a good idea to get a whole life insurance. The advisor came up with two possiblities - a Whole Life Insurance OR a Variable Universal Life Insurance III (both via MassMutual). The Whole Life Insurance has an initial death benefit of around $170k with an approximate premium of $200/month, while the Variable Universal Life has an initial death benefit of $240K with an approximate premium of $200/month. Given these facts, can someone please chime in on if picking either of those options with MassMutual as a provider makes sense ? [link] [comments]  |
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