How does insurance work? People buy insurance coverage to protect themselves from potential future loss. In exchange for payment of a known fee—the insurance premium—the policyholder is able to transfer his or her potential risk to an insurance company, which agrees to pay in the event of such a loss. Insurance works because it allows …
Tag: car insurance
Feb 28
Auto Insurance…Did You Know?
Did You Know… If you’re found legally responsible for bills that are more than your insurance covers, you will have to pay the difference out of your own pocket? One out of every seven vehicles on the road in the United States has no insurance? Underinsured motorist coverage on your auto policy will reimburse you …
Feb 26
“What’s the Right Auto Liability Limit for Me?”
Low Limit Policies In the current difficult economic climate it is tempting to purchase lower limits to save premium dollars or to buy a policy from an insurance company that advertises low-cost coverage. Often, these “low-cost” policies provide only the minimum amounts of liability required by state law. Buying minimum limits can be a mistake …
- 1
- 2