A homeowners insurance policy usually covers four incidents on the insured property – interior damage, exterior damage, loss or damage of personal assets/belongings, and injury that arises while on the property. When a claim is made on any of these incidents, the homeowner will be required to pay a deductible, which in effect is the out-of-pocket costs for the insured.
For example, a claim is made to an insurer on an interior water damage that occurred in a home. The cost to bring the property back to livable conditions is estimated by a claims adjuster to be $10,000. If the claim is approved, the homeowner is informed of the amount of his or her deductible, say $4,000, according to the policy agreement entered into. The insurance company will issue a payment of the excess cost, in this case $6,000. The higher the deductible on an insurance contract, the lower the monthly or annual premium on a homeowners insurance policy.
There are three basic types of auto insurance: liability, comprehensive, and collision coverage. There are additional types of coverage that can be helpful if you have a car loan, need to rent a car due to an accident, require roadside assistance, have aftermarket parts on your vehicle, or just want the extra comfort that additional liability insurance can give you as part of an umbrella policy.
Most states require between $15,000 and $25,000 in bodily injury liability per person, $30,000 to $100,000 in bodily injury liability per accident, and $5,000 to $25,000 in property damage liability. Some require additional coverage such as uninsured motorist and medical payment coverage.
Excess Personal Liability aka Umbrella coverage - - What will happen if you or your child causes a car accident resulting in serious injuries and death of others? How would you pay for the treatment of someone who hurts himself or herself in your home and claims negligence? What happens when they claim to have greatly suffered because of the injury? What if a stranger on your property beats your dog and in self-defense your dog bites the person, and then you are sued?
Most states require between $15,000 and $25,000 in bodily injury liability per person, $30,000 to $100,000 in bodily injury liability per accident, and $5,000 to $25,000 in property damage liability. Some require additional coverage such as uninsured motorist and medical payment coverage.
A report recently published by Kaiser indicates that over 72% of the population has enough saving the resources to cover a medical expense of over $1000. Accident insurance is a form of coverage that protects you financially in the event of an injury sustained from an accident. If an incident occurs, accident insurance will generally cover you in the form of a lump sum to offset the burden of medical bills and other expenses related to your injury.
Most states require between $15,000 and $25,000 in bodily injury liability per person, $30,000 to $100,000 in bodily injury liability per accident, and $5,000 to $25,000 in property damage liability. Some require additional coverage such as uninsured motorist and medical payment coverage.
Accident & Injury
Heart attack hospitalizations cost a median $53,384 and strokes cost $31,218, according to the study published by American Heart Association News. The resulting catastrophic costs make it difficult for uninsured patients to keep up with basic living expenses such as transportation and housing, according to researchers.
Bypass surgery costs substantially more than heart attack and stroke, with a median hospital cost of $85,891 to $177,546, the study showed. During the procedure, surgeons reroute blood around clogged heart arteries. Neither study factored in additional costs following hospitalization, such as loss of productivity from missing work or ongoing medical care and drugs, which may have further financial consequences.
