Insurance

 After kid's bike mishap, $18,000 bill sets legal wheels in motion:-  Adam Woodrum was out for a bike ride with his wife and kids on July 19 when his then 9-year-old son, Robert, crashed. “He cut himself pretty bad, and I could tell right away he needed stitches,” said Woodrum. Because they were on bikes, he called the fire department in Carson City, Nev. “They were great,” said Woodrum. “They took him on a stretcher to the ER.” Robert received stitches and anesthesia at Carson Tahoe Regional Medical Center. He’s since recovered nicely. Then the denial letter came. The Patient: Robert Woodrum, covered under his mother’s health insurance plan from the Nevada Public Employees’ Benefits Program. Total bill: $18,933.44, billed by the hospital. Service provider: Carson Tahoe Regional Medical Center, part of not-for-profit Carson Tahoe Health. Medical service: Stitches and anesthesia during an emergency department visit. What gives: The Aug. 4 explanation of benefits (EOB) document ...

Not Everyone Needs to Buy Long-Term Care Insurance. Here Are Some Considerations. :-  Five years ago, Julia Dobson of Auburn, Ala., bought a $400,000 life insurance policy that can be tapped early to pay for long-term care, should she ever need it. Her husband, Steve, declined to buy equivalent insurance for himself. Instead, he set aside $250,000 in investments to cover long-term care. There was some heated discussion before the couple made their decisions, says Steve Dobson, now 71 years old. “Usually, we’re on the same page about things,” he says. “This was something where we weren’t on the same page.” A lot of seniors disagree when it comes to long-term care insurance. Half will need such care at some point in their lives and yet only a fraction carry insurance to cover the costs. Medicaid pays for long-term care for lower-income individuals without other means. Wealthy people with at least $2 million to $3 million in assets, by contrast, usually can afford to pay for care out ...

 Covid Sparks Spike In Usage-Based Car Insurance :- Motorists are increasingly choosing usage-based insurance where premiums are based on driving habits ... [+] and mileage. Experts say such policies can reduce premiums as much as 50%. Among the myriad changes triggered by the Covid-19 pandemic is the sharp spike in a form of auto insurance that can greatly reduce premiums, especially for the millions of drivers who no longer commute since they’re now working from home.  It’s called usage-based-insurance, or UBI. Rather than set premiums, rates are based on driving habits and mileage. The safer the habits and lower the miles driven, the higher the possible discount. A study released last month by market research company Allied Market Research predicts the global market for UBI will reach $149.22 billion by 2027. According to the study, UBI already accounted for nearly two-fifths of the North American insurance market in 2019 and has escalated since the onset of the Covid-19 pa...

 Importance of Two Wheeler Insurance in India:- Riding your bike without a valid two-wheeler insurance plan is considered illegal. Two-wheeler insurance policies are designed to offer financial coverage against unfortunate events and accidents that could damage the insured two-wheeler, or bodily injuries to the rider, the pillion, or pedestrians, or damages to the property of a third party. With a proper bike insurance policy in place: You will be free of financial stress: In case your vehicle is damaged or stolen, you won’t have to worry about the costs incurred in fixing it or replacing it as the insurance company will take care of it or you. You will have legal protection: Considering the fact that it is compulsory to have an insurance policy in place when riding on Indian roads, carrying a copy of your insurance policy will ensure that you will be legally protected against paying fines or penalties to the police. You will receive a personal accident cover: If you are insured, ...

What is Car Insurance? Car insurance policy is taken by the owner to protect her vehicle from damages and/or loss arising from unavoidable and unforeseen circumstances. It provides cover against theft, total/partial, Third Party Liability arising out of Motor vehicle accident Let us take a look at the different types of car insurance. Liability Coverage This is mandatory coverage under the Motor Vehicles Act. It covers third party injury, death or damage to the property of the third party. Own damage to the private car: Own Damage (OD) Car insurance helps you stay covered against damage caused to your vehicle due to accidents like fire, theft, etc. In case of an accident, an own damage cover compensates you for the expense to repair or replace parts of your Private Car damaged in the accident. Your own damage insurance policy covers damage caused by fire explosion, riots and strikes, earthquake (fire and shock damage), floods, accidental external means, malicious acts, terrorist activi...

How to Renew Your Two-Wheeler Insurance :-  India has seen a rapid rise in two-wheeler ownership. And that has also increased the incidence of accidents involving two-wheelers. So, for your peace of mind and to protect you financially, you must get good two-wheeler insurance for your bike or scooter. What's more, third-party insurance is mandatory under the Motor Vehicle Act. However, most two-wheeler insurance policies last a year, and it is your responsibility to renew it. When you do renew the policy, you have the option of paying the insurance fees either online or offline. In case of offline payment, you can carry out the following steps Visit your nearest Liberty General Insurance branch Show all your previous documents for verification, and then fill out the renewal form. In case of own renewal, there is no need to submit a new proposal form if there is no change in risk/coverage details. Submit all necessary documentation Make the payment Get the receipt When it comes to on...

 Know all about checking Bike Insurance details by registration number:-  A bike insurance policy has been made mandatory by the rules mentioned under the Motor Vehicles Act, 1988. This Act governs the traffic rules which motor vehicles have to follow in India and one such rule is the need for a valid motor insurance policy on all vehicles. That is why, if you have a bike, you need to have a valid bike insurance policy on the same. Due to this rule, all biker owners invest in a bike insurance plan. The compulsory bike insurance policy is the third party policy which covers injury, property damage or death suffered by a third party due to the bike. If, on the other hand, you buy a comprehensive policy, you also get covered for the damages which the bike suffers. Whether you buy a third party policy or a comprehensive one, the registration number of the bike is used to buy the policy. Let’s understand what this number is and how you can use it to check bike insurance status. Wh...