InsuranceYak.comOne of the great mysteries of the property insurance world is replacement cost. During my agent days, I was frequently asked to insure property and determine a replacement value of someones house. Talk about conflicts, here’s what I’m up against: I’ve got a homeowner who doesn’t want to pay anything for house insurance, a mortgage […]
This is a continuation of the FAQ sections of this blog.
Q: A big expensive repair need to be done to my house, will my homeowners insurance cover it?
A: Homeowners insurance covers
Q: What is better Term Life, Whole Life insurance, Universal Life? Which should I get?
A: I’m a big fan of term insurance; big death benefits and small premiums. Since 30% of the US population does not have any life insurance and 1 out of 3 Americans with insurance only have coverage from group life policies, […]
Q: Can someone get a life insurance policy on me without my knowledge?
A: Anything under the sun is possible. In order to get a life insurance policy issued, a person should have:
1. An insurable interest in the insured (you’re financially impacted if someone dies)
2. A need for the insurance $$ amount requested (no $5 […]
Q - My Father died and we can’t find his life insurance policies anywhere. My Mother died years ago and paperwork had been misplaced. Any way to track down a life insurance policy?
A - Unfortunately, insurance policies are considered private transactions between an insured and the insurer. There is no single repository of life insurance policies that […]
Dog Liability and Homeowners Insurance
Insurance companies have paid particular interest to dogs in recent years and have worked at field underwriting all Homeowners and Renter’s policies for dog exposures. Their main focus is to eliminate exposure to severe losses. In 2002, dog-bite claims cost insurers almost $350 million, and accounted for a full fourth (1/4) of […]
The best ways to maximize your income is spend less of it, especially for a losing proposition like purchasing auto insurance. Why is this a losing proposition? Auto insurers have a goal to pay around 60 to 80 percent of all premium dollars received on claims. This is like investing $1 and getting an average […]
Life insurance should be a core element of almost every family’s financial plan; a large infusion of tax free cash just when your family needs it. Being a fan of life insurance and investing, I’m always skeptical of schemes that try to combine life insurance protection with savings, especially saving for retirement. Death and retirement […]
Q - How much commission do Insurance Agents make? How do I start an agency?
A - First things first, you’ll need to get licensed in your state and other states you want to do business in(not too hard) you’ll need appointment with good companies that sell marketable policies (a little harder) then they’ll require you […]
Top ten FAQ of All Time
Q: My insurance company wants to check my credit? What’s that got to do with insurance?
A: Apparently everything; Commercial policies have been credit checked for decades, Insurers started credit checking personal lines ( life, homeowners, car insurance) polices in the 1990s and have been doing it long […]
April 3, 2008 
