Posts tagged "Insurance Question"

Farm Insurance?

Question by Someone: Farm Insurance?
What’s up with so many insurance carriers having “farm” in their names, e.g.

State Farm
Farm Bureau
Farmers Insurance
etc…

Best answer:

Answer by mbrcatz17
100 years ago, the US was mostly an agrarian society. Lots of farms.

Plus, farms make people comfortable. All those cute animals.

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Is this really possible? Mutual funds vs Whole life insurance?

Question by ratmforever: Is this really possible? Mutual funds vs Whole life insurance?
I understand that the investment linked with whole life offers very little returns compared to real investments like mutual funds. Now I tried this online compound calculator http://www.math.com/students/calculators/source/compound.htm to see if mutual funds can really beat insurance “investments”.

I placed the following data in the calculator:
Years: 40
Percent Yield: 12%
Initial Balance: $ 500
Monthly Contribution: $ 100
Final Balance: $ 1,235,801.11

Is this data realistic in mutual funds? If so then it sure beats what whole life insurance offers and that the saying “Buy term invest the difference” is really true. So are these realistic figures or something wrong with the calculator ?

Best answer:

Answer by molly b
Whole life and mutual funds are two different breeds. Whole life insurance cannot earn more cash value than the death benefit unless you are doing Universal Life. If it does than you get hit with penalties. Mutual Funds can earn and lose money. There are no guarantees above simple interest. Whole life insurance will not lose it’s cash value, but will not gain as much either. Look also into annuities. They can be single premium immediate to monthly pay with several payout options. They are more stable than mutual funds and can earn a very nice return on the investment.

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Does my landlord need insurance?

Question by Kiddo: Does my landlord need insurance?
My lease references “manager’s insurance” so do they need to have it? Seems to me this implies that they have it and therefore if they don’t it is misleading?

I caused a fire cooking chicken (I didn’t know cooking oil explodes at random, I was standing right next to it too) and the surrounding cabinetry was damaged as well as the stove. I called my insurance agency and they say renter’s insurance does not cover the apartment – only MY things. So there is no way I could have protected myself against this – except maybe taking a course in chemistry?…My landlord made no reference of having insurance and charged me a large bill, which I paid, but now I’m thinking they should have made a claim with their insurance agency assuming they have one.

I would really like to get some of my money back, any suggestions on how to do this are appreciated.
Ok, thank you for all the emphasis on how it was my fault.

What I’m wondering is if my landlord should have filed a claim, had her insurance bring the charge down, and THEN billed me.

But I see that YOU all are A BUNCH of angry LANDLORDS bent on POINTING fingers at RANDOM people.
And please read the post, RENTERS INSURANCE DOES NOT COVER THIS.

And for the smartas$ who said I should take a cooking class – I was following a recipe. And people shouldn’t have to go to school for cooking to rent an apartment.

Best answer:

Answer by Landlord
No, you damaged this, you pay for it. Insurance does not cover tenant damages. It would only kick in if you burned down 25% of more of the building but you can bet the insurance company would turn around and get the money from you.

Just because he has insurance does not mean you can do things like this.

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What is the technical terminology for “fire insurance”?

Question by Kat: What is the technical terminology for “fire insurance”?
By “fire insurance” I mean believing in God only to get to heaven. I cannot remember for the life of me the the correct/ technical term for it.
Aha! Pascal’s Wager. That’s what I was looking for. Thank you so much!
It is a very lame excuse. Faith and relationship are the way to go.

Best answer:

Answer by Pants Party III
it’s Pascal’s Wager

A lame reason to believe in a god because you don’t know if you picked the right one to believe in or not

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In the state of Ohio, is it legal to force a tenant to purchase “renter’s insurance?”?

Question by Mike Stankiewicz: In the state of Ohio, is it legal to force a tenant to purchase “renter’s insurance?”?
My landlord sent me a letter stating that in order to renew my lease, I ought to procure tenant insurance. He owns numerous properties, and last year one of his tenants triggered a fire. I personally assume he is attempting to goad every person into acquiring their personal insurance, so his insurance deductible will be lower. Is this legal, is it correct? I’m struggling as it is, and although it could not be significantly, I genuinely can’t afford an additional bill. Any valid insight would be drastically appreciated.

Greatest solution:

Answer by brian-the-brain
renter’s insurance covers the stuff in the apartment or home. The owner has home owners insurance coverage to cover the developing only. What you are saying doesn’t truly make sense. I am nearly optimistic you can’t be forced to get it.

Right here is a link to ohio landlord tenant law, in specific about renters insurance coverage. You might peruse the site to discover more information.

http://www.ohiolandlordtenant.com/faq30.html

The dilemma is that he isn’t evicting you. You do not typically want to renew a lease to keep someplace, there is usually a provision in the agreement that it simply defaults to month to month. So you may well be able to not renew the lease and force him to evict you. At that point you may possibly have more rights. Just before you get to this point be positive you know the law. Don’t just do it and then locate out it wasn’t the right course of action.

You really should call a lawyer that specializes in landlord tenant law in your place and ask them a few totally free questions more than the telephone. If they wont let you ask a couple of concerns for free then call another, an individual will assist you. They will know the law inside out.

The bottom line is if you are becoming screwed by the landlord, a court will side with you. This sounds like just such a situation. Just speaking to a lawyer and obtaining them explain the law to you so you can call the landlord and tell them what you discovered will likely be sufficient. Landlords don’t normally want to do the wrong theing they are just sometimes not up to speed on the law just like a lot of tenants aren’t. They attempt and do something that can make sense to them and do not understand it is incorrect for them to do so.

Very good luck with your dilemma

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Is a house “move-in ready” if it needs an electrical rewire to qualify for insurance?

Question by MitziL: Is a property “move-in ready” if it desires an electrical rewire to qualify for insurance?
The 1953 construction wiring is not insurable as is. The seller advertised as move in prepared. The lights come on, but no insurance can be issued with out the identified but unmentioned upgrade.
Is this an accurate description, or maybe a lapse in disclosure?

Very best answer:

Answer by pickmefirstplz
you can move in but with no insurance unless the insurance says the wiring is unsafe

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How many Conservatives out there are building up their Gold Portfolios? How about “Food Insurance”?

Question by The Karate Kid: How many Conservatives out there are building up their Gold Portfolios? How about “Food Insurance”?
Yes… I said Food Insurance.

Best answer:

Answer by Bob Cratchit
Please explain how food insurance works?

Well I live in a small town and have several friends who farm. I plant a garden every spring and know several women who pickle.

Am I safe from the boogey man?

What are we supposed to be preparing for anyway? Global warming or the end of the world in 2012?

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reason for home owners discount in Auto insurance?

Question by Jar: cause for home owners discount in Automobile insurance?
What are the economic cause for discount in “Automobile Insurance” if the individual is also a home owner?

I see that even if the home owner insurance is not with the exact same carrier as Auto Insurance but nonetheless car insurance organization provides the property owner discount. And if it is with the very same firm then it is known as “several policy” discount.

Also, One of the individual has been renting and has the car garage, but that person did get the discount for garaged automobile but it was much less than the property owner discount.

How does the probability of accident or other loss reduce with home ownership?

Best answer:

Answer by zeuz
“How does the probability of accident or other loss decrease with property ownership?”

This is the incorrect question. Car insurance is priced on correlations rather than causations. There seems to be a correlation in between lower loss charges on automobile insurance for men and women who have home owners insurance when compared with the whole cohort of men and women with car insurance.

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Condo insurance question?

The tenants of a condo we own got flooded because of the unit upstairs. After talking with the insurance company and condo, the condo has agreed to refloor, and repaint the rooms affected.

I am not comfortable with the tenants sleeping in the unit if it’s being repainted. Who’s responsibility is it to put them up in a hotel? Is it the condo’s cost? Insurance? Or yikes…mine?

It’s possible the insurance would cover this IF they agree with you. Contact them and see. If they don’t agree, you would have to pay for it.