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Mortgage Insurance Frequently Asked Questions About Life & Term Insurance Products
by goffi in Personal Finance
A mortgage is a large financial responsibility that typically stays with you a long time. Many people buy insurance to pay for the mortgage in the event of disability or death. While specific mortgage insurance policies exist that pay a wide range of benefits under several different circumstances, most people purchase life insurance policies to protect their families from the burden of paying the

Can Insurance Deny Homeowner's Insurance Based on a Credit Score in New York State?
by Wonderbread in Personal Finance
Insurance companies utilize the information in credit reports to determine eligibility and pricing of policies more frequently than many people realize. Though many states have laws that restrict the ways that insurers can gather and use credit reports, the practice remains quite common as of 2011. It is not illegal in New York for insurers to use credit report information, though the state does h

Does My Credit Report Affect My Homeowners Insurance If It Is Tied to My Auto Insurance?
by rpanic in Personal Finance
According to U.S. law, all individuals who wish to operate an automobile must purchase at least a minimum amount of car insurance. This insurance policy must be purchased from a private insurance company. In many cases, insurers offer policyholders the chance to purchase both auto insurance and homeowner's insurance together, with each offered at a discounted rate. In many cases, a person's credit

Standard Fire Insurance Policy Vs. Building & Personal Property Insurance
by Tim Watson in Business
Robin Pearson wrote a book arguing the advent of fire insurance played a dominate role in the success of the British Revolution between 1700 and 1850. Benjamin Franklin brought the idea of mutual protection against fire to the residents of Philadelphia in 1752. TypesFire Insurance policies evolved over the years into two basic types. Standard fire insurance covers a building and additional stru

Does Gap Insurance Cover a Total Loss of My Vehicle Under Full Coverage Insurance
by Netopia in Personal Finance
Gap insurance is separate from a full-coverage insurance policy. Although you may purchase gap insurance from your car insurance provider, it pays out for your vehicle's loss differently than a full-coverage insurance policy. To determine whether you should purchase gap insurance or if it will cover your loss, consider its purpose and the terms of coverage. Full-Coverage InsuranceFull-coverage

Homeowners' Insurance: The Risk of High Home Insurance to an Owner
by Charlie98 in Personal Finance
Every homeowner runs the risk of being under-insured when a loss occurs. The danger of having too little insurance is that the policy will not provide enough money to rebuild the home or replace your belongings. To correct this problem, though, you may end up buying too much insurance. You may feel more secure with a homeowner's insurance policy that has very high limits, but high home insurance p

Is Mortgage Insurance Worth Taking Out As Opposed to Term Insurance?
by krismolendyke in Personal Finance
When you purchase a home, you may wonder if you should take out a mortgage insurance policy instead of buying a term life policy. Although these policies are similar, they do have important differences. Mortgage Life InsuranceA mortgage life insurance policy is designed to pay off your mortgage loan if you die before the loan is paid. The face value of the policy is based on your home's value w

Reasons Life Insurance Companies Deny People Insurance
by obijywk in Personal Finance
The life insurance application process contains several components, and each one contributes to an overall evaluation of the level of risk you pose to an insurance carrier. Underwriters, the insurance company employees responsible for determining your eligibility for a policy, do not take chances or unnecessary risks with the company's money. For instance, if the underwriters believe that your pro

A Checklist for Adding a Baby to Health Insurance & Life Insurance
by RKelln in Personal Finance
If you're an expecting parent, prepare ahead of time for completing the process of adding your baby to your health insurance and life insurance policies. Most insurance carriers only offer a limited window of opportunity to add a newborn to your policy without additional complicated and time-consuming hurdles. Each insurance company may have slightly different documentation requirements for adding

How to Deal With Insurance Companies When Filing Accident Insurance Claims
by riahc3 in Personal Finance
These are few guidelines that you should follow when dealing with insurance company when filling for accident insurance claims.Difficulty:Moderately ChallengingInstructions Read the insurance policy- Make sure that you understand the terms and the policy of insurance company before you purchase an insurance plan. Ask your your insurance agent and let him explain to you in full details.
Do no

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