Posts tagged "Health Insurance Policy"

Common myths about insuring a house

There is a set of myths that surrounds different types of insurance. Some of these myths can be harmless yet others can lead to serious misunderstandings and lack of coverage, which will force you to pay for the damage out own pocket. So if you don’t want to rely on myths and need hard facts, here are some of the most common misunderstandings about insuring one’s house and the truth behind each of them.

Myth: Flood damage is covered by standard policies.

Fact: You will never have flood damage covered by a standard homeowners insurance policy no matter what provider you’re buying from. It always requires a separate insurance policy or a weaver to be purchased in order to be covered against floods.

Myth: The medical payment provided by the homeowners insurance policy will cover me and my family in case of injury.

Fact: The medical payment portion of the policy has a whole different purpose. It’s included with standard policies in order to pay for the medical costs to third parties subjected to injuries within your property. Say a visitor or a neighbor gets injured while being in your house. The medical payment will settle the costs and eliminate the risk of being sued by the third party. In case you or any of your family members are injured on your property it’s the health insurance policy that will settle the medical costs.

]]>

Myth: The insurance company will pay for everything I tell them in case my house is completely destroyed.

Fact: If your house gets destroyed and it’s impossible to indicate the items that were lost the insurance company will require you to provide a list of all the items with exact purchase date, price and serial number. And it’s evident that if you will start making up things you risk getting denied coverage because of fraud. That’s why you should always keep a detailed inventory of your house contents when you have home insurance.

Myth: If any valuables (such as jewelry) will be stolen the policy will cover their entire value.

Fact: All policies have a limit on how much coverage can be provided on lost jewelry. These limits usually vary from ,5000 to ,000 depending on the company. If you feel like that’s not enough to reimburse the price of valuable were they stolen or destroyed you will need to purchase an additional coverage for each item with exact value of coverage to make sure that everything is insured adequately.

Myth: The policy will cover damage caused by poor maintenance.

Fact: Home insurance policies of any types do not provide coverage on damage caused by poor maintenance. So you will have to make sure that your house gets all the minor fixes on time. Because, otherwise the insurance company may deny your claim if they find out that a plumbing leak or fire were caused by simple wear and tear you didn’t address.

Myth: The amount of coverage should be equal to the price I’ve purchased my home with.

Fact: The purchasing price of your home is a wrong way to go when determining the exact amount of coverage you should get with your home insurance policy because construction prices fluctuate significantly. Instead you should take your overall square and multiply it by current local construction prices per square foot. This way you will get a figure that will reflect the cost of rebuilding your house from scratch were it destroyed the next day.

Should my insurance, BlueCross/BlueShield pay for a dog bite injury which happened at someone elses house?

Question by Kester: Should my insurance, BlueCross/BlueShield pay for a dog bite injury which happened at someone elses house?
My son was bitten by a dog at our friend’s house. My insurance, BC/BS, will not pay for the injury to be treated claiming that our friend’s ‘Homeowners” insurance should pay for it. However our friend’s are renters and have NO insurance, and NO money. Am I going to have to pay for this myself out of pocket? I feel like my insuance company has abaondend me and my son. If my son was to get injured at my house (which has happened before) BC/BS would and has paid for it and not claimed that my homeowners insurance should pay for it. Any ideas on how to proceed? Suing our friends who have no money will only cost me money and result in getting zero from them.

Best answer:

Answer by mbrcatz17
Well, yes, and then THEY can sue your friend for reimbursement.

Your friend should have had RENTERS insurance, to cover the bite. If your insurance pays for the bite, then they WILL sue your friend – so without insurance, your friend will have to pay for this, or have his wages garnished forever until they get reimbursed. That subrogation clause IS their right, and it’s in the health insurance policy.

It’s HIGHLY unusual for an insurance company to say they won’t pay. Have you told them he has no insurance? I’d tell them that, AND ask them to put the DECLINATION IN WRITING, so you can submit it to your state insurance commissioner for review.

That ought to light a fire under their rumps. And as soon as you have it in writing, submit it – but I don’t think you’ll have to, because I think they’ll pay when you tell them that.

What do you think? Answer below!

Essential Questions To Ask When Selecting Insurance coverage Coverage

When was the final time you sat down and really considered your insurance coverage coverage? Let’s face it, it isn’t precisely on the weekly “to do checklist” for a wide variety of reasons and so… it’s not stunning that many are caught unprepared when an emergency happens. One factor to remember is that you do not have to stay in an area susceptible to a major catastrophe (i.e. dwelling in an earthquake or hurricane prone area) to all of the sudden notice that your present insurance protection is woefully out of date.
Buying insurance coverage is clearly a daunting job for many, but because it is roughly a obligatory evil I’ve listed a number of key components to contemplate while you finally do take the time to ensure your protection is as much as par.
Pre Present Situations and Full DisclosureBefore being permitted for any insurance protection all functions are looked at by an underwriter. It’s an underwriter job to just about look at every part about you associated to your medical history, once you apply for any sort of particular person health insurance policy.
Be sincere about every part and remember to disclose any pre-present circumstances as a result of in most situations the underwriter will discover out about them anyway and in the event that they do and you failed to say them you might get denied coverage. And even if the underwriter doesn’t catch a pre-existing situation that you just failed to say and also you do get authorized you are still not within the clear. The explanation, if you happen to ever file a declare earlier than cost they’re going to have a look at your historical past again and in the event that they discover out about your pre-existing condition at the moment, not only will they deny your declare however you could also be guilty of fraud and should pay a tremendous, possibly something even worse.
Although many corporations will not insure pre-existing conditions, some will however solely with a 30, 60, 90, and a hundred and twenty+ ready period while others are legally mandated to hold “guaranteed problem” policies. Prior to signing on with an organization, get an in depth record of what’s thought of a pre-existing situation, the exclusionary interval and the kind of coverage that will be supplied as soon as the exclusion ends.
Fee ComparabilityOf course, rates are vital however keep in mind to get quotes on policies which have the identical kind of coverage. Get a copy of all quotes so that you could see the sort and amount of protection in each category and then make it possible for each quote you get relies on those self same coverage quantities in order that as the saying goes… you are comparing apples to apples. In case you obtain a quote that’s means below quotes from different corporations make certain it’s legitimate by asking how they can provide protection at such a decreased rate. The answer could also be that a particular firm focuses on a particular type of coverage and they also provide it at a substantially decrease charge but then once more… if it’s too good to be true then it often is. So keep in mind, an excellent dose of skepticism will carry you a protracted way.
Dealing with Unbiased AgentsMany independent insurance brokers are truly a treasure chest of invaluable information about the insurance coverage industry as a whole however perhaps even more importantly, they can also offer you suggestions from other purchasers a few given insurance company, their merchandise and customer service.
You’re the Boss So Have It Your WaySince you and your family are those that should reside with penalties of no matter protection you decide to choose, it’s truly imperative that you simply think by way of your desires and desires before deciding on the kind of coverage to choose. One question chances are you’ll wish to ask your self is… How important is it for you to the have the choice of choosing your individual medical doctors? If it isn’t an issue, then perhaps an HMO could be a great cost-saving choice to consider. On the other hand, when you’ve got a favourite doctor and come hell or high water you want to see them then you might wish to contemplate the pricier PPO.
No matter what firm you in the end decide upon, it’s imperative that its merchandise and protection options can develop with you and your altering needs. Because of this, an organization that specializes in catastrophic protection might not be the best course of action if you happen to’re planning on having children.
A number of other important factors to think about when selecting protection are: add-ons, deductibles, customer support and charge increases.

Find Out More:

humana health insurance

moneysupermarket