What Does Coverage Mean? Coverage, or more specifically insurance coverage, is the amount of protection in terms of a sum of money that an insurance company provides to an insured person whereby, in the event of risk or risks insured against take place, such as death or accident, the policy...
Example 2: Mary is retired and covered under Medicare as her primary insurance. She also has secondary coverage through her former employer’s retiree health plan. Mary incurs $2,000 in medical expenses. Medicare, as the primary insurer, will process the claim first and pay for the eligible ...
When a person has "bound" insurance coverage, it means that an insurer has temporarily extended him coverage, while the underwriting company is reviewing his application. This coverage is extended based on the assumption that the applicant will be approved for the insurance plan that he applied to...
WHAT DOES “FULL COVERAGE” MEAN? “Full coverage” isn’t an actual type of coverage, but instead, is a general term used to describe a policy that combines comprehensive and collision coverage, as well as anything else mandated by your state. Liability coverage, which is mandatory in almost...
Gap insurance is an optional auto insurance coverage that helps pay your car loan if your car is lost or stolen and you owe more than the vehicle is worth.
From dings to dents and the occasional “oops” and “uh ohs,” full coverage car insurance can help you through many unexpected twists and turns of car ownership. But what exactly does full coverage mean? Actually, there isn’t an industry standard definition. Full coverage refers to a car...
Prudential, Guardian, and State Farm offer the top life insurance coverage up to 10% discounts. These providers stand out for their customizable policies, coverage options, and exceptional customer service, ensuring you get quality and affordability in your insurance choices....
Also, just because an insurance policy is termed “all risks” does not mean that it covers "all risks" since the exclusions reduce the level of coverage that is offered. Make sure you look for the exclusions in any prospective policy. ...
Understanding how life insurance works and how to shop for a policy can help you find the best coverage to meet your family's needs. Life insurance is a contract between an insurance company and a policy owner in which the insurer guarantees to pay a sum of money to one or more named ...
Full coverage car insurance is simply a term people use to describe a policy with a combination of coverages that help protect your car. It’s important to understand that it doesn’t mean you’re covered for everything, nor does it guarantee your claim will be approved. Full coverage car...