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Insurance?

What your policies actually cover, and what happens when you file a claim. 23 questions and counting.

What is the difference between a deductible, a copay, and an out-of-pocket maximum?The premium is what you pay monthly to have coverage. The deductible is what you pay before the plan starts sharing costs…
What is the difference between an HMO and a PPO?An HMO costs less and restricts you to its network with a referral required for specialists. A PPO costs more and lets you…
What are your rights against a surprise medical bill?The No Surprises Act, effective 2022, bans balance billing for most emergency care and for out-of-network providers at…
What does homeowners insurance actually cover?The structure, your belongings, liability, and living expenses while displaced. It does not cover flood or earthquake, which…
Is renters insurance worth it?Yes, and it is one of the clearest value propositions in insurance. It typically costs somewhere around fifteen to…
What does full coverage car insurance actually mean?Nothing specific. It is a marketing phrase, not a policy type, generally meaning liability plus collision plus…
How do you appeal a denied insurance claim?Get the denial reason in writing, then file an internal appeal, then an external review by an independent third party…
Does car insurance follow the car or the driver?Mostly the car. If you lend your vehicle to a licensed friend and they crash, your policy is generally primary. There are…
Does homeowners insurance cover a roof replacement?For sudden damage from a covered event like wind, hail, or a fallen tree, generally yes. For age, wear, and neglected…
Do you need flood insurance if you are not in a flood zone?Often yes. A large share of flood claims come from outside high-risk zones, standard homeowners policies exclude flood…
What are the parts of Medicare, and when do you have to enroll?Part A is hospital, Part B is medical, Part C is Medicare Advantage from private insurers, Part D is drugs. Missing your…
Does filing an insurance claim raise your rates?Usually yes for at-fault auto claims and often for home claims, and the increase persists for years. That is why small…
What is umbrella insurance, and do you need it?Extra liability coverage sitting above your home and auto policies, typically a million dollars for a few hundred a year. It…
What is disability insurance, and do you need it?Income replacement if illness or injury stops you working, which is a far more likely financial catastrophe than dying…
What is workers compensation, and what does it actually cover?A no-fault system paying medical costs and partial wage replacement for work-related injuries, in exchange for giving up the…
What actually determines your insurance rate?More than your driving or claims record. Credit-based insurance scores, which several states restrict or ban, are a heavy…
What is gap insurance, and do you need it?It covers the difference between what you owe on a car and what the insurer pays if it is totaled. Worth it when you are…
What is long-term care insurance, and is it worth buying?Coverage for extended personal care that health insurance and Medicare largely do not pay for. The need is real, since a…
What does an insurance adjuster actually do, and do they work for you?A company adjuster works for the insurer and evaluates your claim on its behalf. That is not hostility, it is their job…
Is pet insurance worth it?It depends on whether you could absorb a five thousand dollar emergency without borrowing. Pre-existing conditions are…
What is a rider on an insurance policy?An add-on that changes what the base policy covers, for an extra premium. Common ones schedule valuables above the standard…
What happens if your insurance lapses?You are uncovered for anything that happens during the gap, and the gap itself raises what you pay afterward. Insurers price…
Should you raise your insurance deductible?Usually yes, if you can absorb the higher amount without borrowing. Raising a deductible cuts premiums meaningfully and…