In conclusion, personal liability insurance is an essential component of your overall financial protection plan. Accidents happen, and the costs associated with legal actions and injuries can be significant. By having personal liability insurance coverage, you are prepared for the unexpected and can pro...
What is full coverage car insurance? There’s no formal definition for “full coverage” since it’s not a real auto insurance term. But it typically refers to a policy that has liability coverage plus comprehensive and collision. That way, you’re not only covered if you have to pay for...
The world of car insurance is full of a lot of different coverage options and terms that you may not be familiar with. One such term that you’re likely to encounter at some point is “comprehensive coverage.” But what is comprehensive insurance coverage, and how can you tell if it’s...
The second limit is the aggregate insurance, meaning the most it will pay out for all claims. If, say, you have $2 million aggregate coverage for the year, that's the absolute limit on what you'll be reimbursed. If you have one $2 million claim, four $500,000 claims or 20 $100,...
An insurer is a company selling the insurance; an insured, or policyholder, is the person or entity buying the insurance policy. The insurance rate is a factor used to determine the amount to be charged for a certain amount of insurance coverage, called the premium. Risk management, the prac...
For instance, those living in regions prone to frequent storms may have a greater need for windstorm coverage. However, since modern property insurance policies often include EC perils as part of their standard coverage, obtaining EC endorsements is frequently unnecessary....
Hurricane insurance usually refers to an extra deductible on a homeowners policy that specifically covers hurricane-related damage in high-risk areas.
Also, the volume of risks is a large factor in insurance premiums. That makes actuarial calculations difficult, especially as organisations grow and add more infrastructure to their environment. What Does Cyber Insurance Cost? Because every corporation has their own set of risks and coverage ...
Excess liability coverage provides higher limits on your existing, underlying insurance policy. Learn more about this type of insurance for small businesses.
Condo insurance is coverage that can be invaluable if you’re a condo owner facing unexpected expenses. The insurance provided by your condo corporation (also known as a strata corporation, condo association or syndicate of co-owners) will generally cover the main structure and common areas, but...