Frequently asked questions
Insurance is a financial arrangement where an individual or entity pays premiums to an insurer in exchange for protection against specified risks or losses.
Insurance provides financial security and protects you from unforeseen events. It helps cover potential losses, medical expenses, property damages, or liability claims.
There are various types of insurance, including health insurance, auto insurance, home insurance, life insurance, business insurance, and more.
Insurance premiums are determined based on factors like the level of coverage, risk profile, age, health status, location, and past claims history.
A deductible is the amount the policyholder must pay out of pocket before the insurance coverage starts paying for the claim.
Yes, many insurance providers offer customizable policies to meet specific needs. You can often add or remove coverage options according to your requirements.
To file a claim, contact your insurance provider and provide all necessary details about the incident. They will guide you through the claims process.
Term life insurance offers coverage for a specific period, while whole life insurance provides lifelong coverage and builds cash value over time.
Filing a claim may affect your future premiums, depending on the type and frequency of claims you make.
Yes, you can switch insurance providers. However, consider factors like policy coverage, premiums, and reputation before making a decision.
Yes, in some cases, insurance companies may consider your credit score when calculating premiums, as it can be an indicator of risk.
Liability insurance, also known as Professional Indemnity, covers costs if you’re legally responsible for injuries or damages to others. It’s crucial for protecting your assets in case of a lawsuit.
Yes, you can usually transfer your insurance policy to a new address. However, premiums might change based on the location’s risk factors.
Exclusions are specific circumstances or situations that are not covered by your insurance policy. Review your policy to understand what is excluded.
Travel insurance is essential when traveling internationally to protect against trip cancellations, medical emergencies, and lost luggage.
Yes, you can usually add family members or other drivers to your auto insurance policy. Their driving records may impact the premium.
Personal insurance covers individuals and their possessions, while commercial insurance protects businesses and their assets.
Life insurance can still be beneficial as it may cover funeral expenses or leave a financial legacy for loved ones or charities.
Standard homeowners’ insurance typically does not cover earthquake or flood damages. Separate policies are available for these risks.
Yes, you can cancel your insurance policy at any time. However, there might be cancellation fees, and you may lose any prepaid premiums.