insurance

I have an old for new household insurance policy?

2010-03-08T21:05:00.000-08:00

We have a cigarette burn on one of the seats of the sofa. will the insurance pay for a repair or replace the unit?

If your agreement states old for new,than they have to replace it with a new one,should you have a problem, phone the Consumer Advice Centre, the number is in your local phone book.

i also had an old for new policy ,but watch out in making claims, i had a house fire and the year old £400 Hitachi television was to be replaced under the new for old scheme, the company offered me a £150 Beko
television as a replacement which i refused ,as there is a big difference between £150 and a £400 television and personally i always have thought of Beko as being cheap european rubbish, i took the money rather than the Beko rubbish and got another Hitachi.old for new is another con ,it is ok if the damaged goods are under a year old but older than that ,the companies only pay out as per the
market value of the destroyed goods.

You would have a deductible to make any claim! Keep in mind that your homeowners insurance is for BIG losses like fires or tornadoes...not a cigarette burn that you probably did! You keep filing a bunch of small claims like that and you will get dropped and you find it hard to get insured in the future!

3 days ago

Car Insurance Claim Check (Farm Bureau Insurance)?

2010-03-08T19:05:00.000-08:00

Okay, I hit a coyote lastweek and I informed my Insurance company ( Farm Bureau Insurance). They told me to go get an estimate. I went to a auto body shop, the guy took notes. I waited all week for the Auto Body to get back with me, and so did the Insurance Company. The Insurance Company finally just had an adjuster come out and asses the damages. They wrote a repair bill for 527.00 plus my 500.00 deductable. So in all it was 1,027.00- I knew that this was WAY to low of an ajustment. So I called the Manager of the Insurance company told him my feelings on the matter, and whom ever came out missed many things (wires, two light's, etc) I was going to get another estimate, and he said okay to my surprise!! I did -- and it was 800.000 dollars more damage done (which we all thought)! The insurance Company was trying to low ball me. Been with them 10-years, full coverage, and two homes as well. Havent filled a claim in 6-years. I re-faxed the Manager the new adjustment from the Body Shop (A diffrent one by the way), Called and spoke with Manager as well. Will the Insurance Company make the check out to me or the Body Shop now? In the past it have always been made out to me or wife. (In ten years only two small claims) State is Oklahoma if this helps any. So in short will I get a check, or will they sent the check to the Auto Body since they faxed them a diffrent estemite? I'm using the money to get about 90% of it done at the Body Shop, but there are a few things I can fix myself. Is there any type of Law they have to send the check in my name? My fear is they will just mail the Body Shop the Check with the owners name, and this means I will have to pay more out of my pocket. Thanks. 5- point's as always.

Additional Details
I know the spelling is incorrect in some places- have a baby in one arm..sorry. Thanks

Look, it's not at ALL uncommon for any body shop to find extra damage, especially after they start taking the car apart. The normal procedure here, then, is that the body shop contacts the adjuster, and puts in a "supplemental" claim for the additional damages.

Yes, they have to mail the check in your name if you ask it, HOWEVER, if you have a loan on your car, they ALSO have to add the lender to your check. It's MUCH easier to have the check written to the body shop, than to have to sign it over to the lender, and wait a month or two until after all the damages are fixed to their approval, and they then release the funds.

You ARE going to have to pay out of pocket, probably up to your deductible amount. That's the POINT of the deductible.

Great detail!! Thank you. The last two checks came in my name and wifes name, which is fine. i just didn't want them to shoot the check over to the body shop, and then have to come out 500 bucks. wonderful in exsplaining. You get the point's. i have my fingers crossed. thanks and be blessed...

Only the adjuster that issues the check can tell you how it will be made out.

Your best bet is to call the adjuster in the morning and ask them.

Can a 65 year old non-smoker male get life insurance or is he too old to be insured? is there a cut-off?

2010-03-08T15:05:00.000-08:00

"can a 65 year old non-smoker male get life insurance"
Answer: Yes

"is he (the 65 year old) too old to be insured?" and "what is the cut-off age"
Answer: No. Most company's will issue up until age 80 and some even to age 85, but it is always better to get something in place when you are younger and healthier.

"can insurance companies deny life insurance policy to an individual"
Answer: Yes. However, by working with a professional, who knows what companies will except you, can decrease your chances greatly of getting declined for health reasons.

Consider: Work with a professional who works with all the major carriers of life insurance. You don't want a policy that increases in price every 5 years and can drop you at age 80 (seen it).

An insurance company can deny you, but they must do the same for anyone in that age group. The other reason any one can get denied for life insurance is prior health concerns. Say you have heart disease, or cancer. No one is going to insure you with market insurance. I belong to AARP. Depending on your state, if you join, you can buy $15000 worth of insurance, but even that has a catch. It's a limited benefit period for the first 2 years. Also to remember, you are 65. The insurance industry says you are really 66.

You should be able to get coverage but most likely you will have limited benefits for the first two to three years!!! That is something to think about, plus the premium is likely to be much higher than if you had planned at a younger age.

The american association of retired people has a rate that is acceptable.

I have some options for you. Contact me and I can give you the details. No BS, just straight answers.

Health insurance rates keep rising, should I get a new plan now or wait?

2010-03-08T13:05:00.000-08:00

I received another statement saying my health insurance is increasing my rate... again. Seems like they do this twice a year. Its gone up $100 since last year. I'm in great health - I don't even use the insurance. I have it just in case anything happens. But its a big dent in my buget. I want to get a new plan, but should I wait until congress passes this new health bill?

If and when the new bill passes the only thing that will change in the near future are the taxes, which will go up almost immediately. The proposed health plan will not be available until 2014.

Health insurance goes up EVERY year, because claims go up.

Congress isn't going to pass this health bill - you'd better hope not, because THEIR plan, is going to increase costs A LOT.

And it's not supposed to go into effect until 2013, anyway.

That depends IF congress passes this bill or not. And if so, does not take effect till 2014.

Talk to an independent agent and they will discuss your options and costs, to see if you can find cheaper elsewhere.

good luck

Does an insurance company have to disclose who the beneficiary is on a policy?

2010-03-08T11:05:00.000-08:00

or is it considered a public disclosure? This is for WA State.

Yes.
It will be stated on the policy who the beneficiary is so if there is a claim they know who to pay the claim. It is on the policy and kept on file at the life insurance company. No other public or private disclosure is made.

Source(s):

http://www.talktoron.com

That information is actually protected by the privacy laws. They CANNOT disclose the name of the beneficiary to anyone besides the policyholder.

After the insured dies, IF the insured was the policyholder, then they can disclose the beneficiary information to the Executor or Administrator of the estate, ONLY.

Best international traveler health insurance?

2010-03-07T18:53:00.000-08:00

I'm going to be bicycling abroad for about a month this summer. Where should I go to get some temporary health insurance for the trip? Thanks!

Be sure to try www.internationalhealthins.com.

Source(s):

World Outreach Christian Ministries, Inc, International Health Insurance www.internationalhealthins.com

possess as much information as you could maybe is one of the options,however it is quite time consuming,here

http://www.HealthInsuranceIdeas.info

is the resource i have ever had good experience.

health-quotes.isgreat.org - here is my health insurance plan. As I remember they can provide such a service.

Are these charges on my whole life insurance policy typical or excessive?

2010-03-07T17:53:00.000-08:00

I have a $1,000,000 whole life insurance policy. I'm wondering if the following charges are customary in the insurance industry or excessive? 1. The net cash surrender value is $24,990. 2. The expense charges are 15.5% of the premium. (Which seems high to me, but I never had life insurance before.)

It sounds more like a Universal Life policy than a whole life policy. Expenses charges of 15% is extremely high and excessive.

Take your policy to a couple different local life insurance agents and have them take a look at it and get a couple of different opinions. You really need to sit down with a professional and with someone who is honest. So, if you don't find an honest agent keep looking until you find one.

You really need someone local to review your policy. 15%??? Too much.

A person would need more information (age and sex of the insured? how long has it been inforce? what are the premiums? are additional funds being put into the cash value?) to determine whether the net cash value is good, bad or average compared to the rest of the industry. As for the expenses, again it's dependent on how old the policy is...

Your best bet would be to contact an insurance broker in your area and they can review your current policy and compare it to something similar that's on the market today.

Cash surrender value depends on how long you've had it. With that much value, you've clearly held this policy a LOOOONNNNGGG time.

The cash surrender value builds up, the longer you hold the policy.

Why does the government pay the insurance company these prices no realist???

2010-03-07T15:52:00.000-08:00

Contrary to the other answer, this is really not about $800 toilet seats. The reason that 5cc of motrin costs $212 is the large number of people who use the emergency room for a doctor's office with no intention of paying their bill. Those costs have to be passed along somehow.

The government doesn't pay insurance companies. They RUN an insurance company, which pays HOSPITALS that much.

And the answer . . . same reason they buy $800 toilet seats. They don't care, it's not their money.

Can my homeowners insurance legally do this?

2010-03-07T15:05:00.000-08:00

We've had some flood damage to our home and the homeowners insurance has paid us the money for the repairs based on the contractors estimates I've given them. I am doing a lot of the work myself to save money and basically paying myself to do the work and buying the materials myself etc. This means that I will probably spend about half or 3/4 of what they paid me. Now the insurance company is asking for receipts. We live in GA and I don't know what the laws are, but can they do anything to me legally if I can't provide receipts that add up to the amount they paid me? What possible legal actions could they take if any at all? I always thought that once the money was paid to me that it is then my decision to get the work done when and how I see fit. If I wanted to wait 2 years to get the work done, I thought I could do that with no issues. But I really want to know if they have any legal recourse at all just in case. And I want to know my rights, like I assume I can say "No, you can't have my receipts" ? Thanks for answering.

Additional Details

Sorry, I meant water damage from rain and resulting mold / water damage. not flood damage

The insurance company did pay the claim in full already. So why are they asking for receipts?

It isn't clear from the question whether you've received the full amount, or the depreciated amount. If they've paid you the full amount, it's very rare for an insurance company to document your expenses after the fact on a small claim.
Repairing the damage yourself is perfectly acceptable, but there is one thing that you need to know. The contractor's bid that you used to determine the value of the claim includes (even if it's not spelled out) materials, labor, overhead, and profit, all of which a contractor needs to stay in business. You as a homeowner, however, do not incur any overhead (as you're not in the contracting business), and you are not entitled to make a profit. In fact, it isn't legal to make a profit on your own insurance claim.
You are still entitled to claim a reasonable amount for materials and labor, but the insurance company may adjust the amount of your claim for having done the work yourself.

It depends on your policy.

Mine stated a certain amount for what was damaged and when the sent an inspector out to take a look.

No receipts then they want their money back, They need proof the repairs are being done.

I've never, ever seen a homeowners insurance policy that covered "flood". I've seen water damage NOT from floodwaters covered, and backup of sewers and drains, but not FLOOD.

They want to make sure you got the repairs done, and that they were done properly. If you did the work yourself, you're entitled to be paid for your time, doing the work. All you need to do, is submit the materials receipts, for the materials you bought, and then submit a letter detailing the hours you spent getting the work done.

If you don't show them that the repairs were done, adequately, they can cancel you for having unrepaired damage - or improperly repaired damage.

Also, once you DO get those receipts, they pay you the depreciation they previously subtracted from the check. So it's in your best financial interest, to give them the receipts - and your hours.

Medical Insurance Question.?

2010-03-07T14:51:00.000-08:00

I know someone that has an ovarian tumor. This person lives in a country where medical care is not the best and would like to come to the USA for treatment. This person is also not an American citizen. Is there any insurance company that will allow her to purchase coverage and actually reimburse her expenses even though it is a preexisting condition?

Absolutely not.

It is like asking about purchasing fire insurance on your home after your home burned down or purchasing auto insurance after you wrecked your car or seeking life insurance on someone who has passed away.

Sorry insurance can't be purchased after the fact...

All the weathiest people in the world, come to the USA for treatment of serious conditions like cancer.

But no one else is going to PAY for it, for her. She can't get insurance in the USA to cover this. If insurance companies did that, they'd go broke - everyone in the world, would buy that policy, come here and get 1000X as much payout, as they pay in. And cancel as soon as they're done.

No. She probably could not even purchase health insurance that did not cover this. Most insurance in the U.S. either is only available to U.S. citizens or is not sold to anyone who already has a tumor.