Author: Sayan Dutta

The significance of the policyholder’s credit score in calculating insurance premiums varies depending on the company and state. Some states have banned or limited the use of credit scores in insurance rating, while others have allowed it with some regulations or disclosures. Generally, having a better credit score can reduce premiums, whereas having a lower credit score can cause an increase in premiums. Depending on the company and state, roughly 50 percent of policyholders can pay lower premiums because of good credit, insurers say. For example, a 2017 report from the Arkansas insurance department shows the impact of insurance scoring…

To buy health insurance from an insurer, one can research various companies and policies. Consulting with a licensed insurance agent in their state can also help them understand their options and choose a suitable policy. After selecting a policy, they can contact the insurer to start the enrollment process. Nonetheless, using healthcare.gov may provide extra benefits, including financial assistance based on income. Overall, buying individual health insurance involves significant decision-making, and thorough research and consideration are necessary. Can you get better deals when buying health insurance directly from the insurance company? Numerous insurance providers present policies identical within and beyond…

If someone misses the Open Enrollment Period for health insurance, they may still be able to purchase a plan outside of the designated time frame. In order to do this, they will need to experience a “qualifying life event” which triggers a Special Enrollment Period. Examples of these events may include getting married, having a baby, moving to a new location, or losing current health insurance coverage. During this 60-day period, individuals can purchase a health plan even if it falls outside of the normal enrollment period. It’s important to note that going without health insurance leaves the individual at…

Costco used to offer dental insurance plans through Delta Dental, but this program ended on April 29, 2022. Costco members who live in certain states could choose between a dental discount plan and dental HMO plans. The dental discount plan offered lower prices for dental services from a network of dentists, while the dental HMO plans covered preventive and basic care with fixed copayments. Some Costco members reported that the dental insurance plans were not a good value compared to other options, and that they faced issues with availability, quality, and customer service of the dentists in the network. However,…

There are different ways to check your insurance coverage depending on the type of insurance you have. Common approaches include: Reaching out to the insurance provider: Call or visit the provider’s website, offering policy number, customer ID, or other pertinent information to confirm coverage. Creating or logging in to an online account may be necessary to view policy details. Examining the insurance card: Inspect the insurance card for a toll-free number, website, or email address to contact the provider and inquire about coverage specifics. Policy number, plan name, and co-payment amount might also be available on the card. Accessing a…

Progressive Insurance can be a good choice for homeowners looking for affordable and customizable coverage. Progressive Insurance is one of the largest home insurers in the nation, but it does not underwrite its own policies. Instead, it matches you with a home insurer through its agency or subsidiary. Progressive home insurance offers comprehensive and affordable coverage with several add-on options and discounts for bundling. However, Progressive also has some drawbacks, such as a high complaint index from the NAIC and some negative reviews from BBB customers, who report problems with service, payments, and claims. Progressive may also have a banned…

The website appears legitimate, however, customer reviews suggest it may be a fraudulent operation. Most customers report receiving an excessive amount of phone calls instead of the expected quotes. Otto insurance is a website that claims to provide free and fast quotes for auto, home, pet, and life insurance from multiple insurance companies. However, based on the customer reviews I found online, Otto insurance may not be a reliable or trustworthy source of insurance quotes. Customer reviews for Otto insurance are mostly negative. Dissatisfied reviewers mention getting bombarded with calls, texts, and emails after providing their information to Otto. Others…

Once your policy starts, usually at 12:01 am on its effective date, you have the ability to file a claim. However, such claims might be perceived as dubious. It is wise to obtain a cost estimate and evaluate whether self-payment is more financially sound. You can submit a claim once insurance is active, provided the incident took place after policy initiation. For example, a claim for fire damage is possible if home insurance is purchased and your house catches fire the same day. You cannot file a claim for an event that occurred before your insurance became effective, even if…

If an insurance company goes bankrupt, policyholders may worry about their coverage, but most benefits should still be covered. The state guaranty association and fund swing into action, transferring policies to another insurer and ensuring that beneficiaries receive benefits. The company’s assets are liquidated to pay any outstanding claims or repay the state guaranty association for claims they pay. Insurance companies are placed into insolvency receivership, and if rehabilitation is not possible, liquidation may occur by order of the state court. If the insurer has reinsured the policy, the reinsurer can help limit risk and ensure policyholders continue to receive…

If the insurance is through your office, the best possible way is to call your HR. They will have the policy number on record. If you have bought the policy directly from the insurance company, then you can call their customer service and ask for help. As the insurance company will have the policy number on its database.  This will require providing some personal identification proofs, such as a social security number, which they will need to verify your identity. Some insurance companies offer an online platform for members to access their policy details, including their policy number. To log…