What is equipment breakdown coverage? Equipment breakdown coverage, sometimes known as boiler and machinery insurance, pays for financial loss caused by the mechanical breakdown of household appliances and equipment in your home. Although the exact systems covered will vary by company, some examples of household equipment and appliances include: Back-up generator Computers and equipment...

Can you negotiate car insurance? Many people ask, “Are car insurance rates negotiable?” You cannot negotiate car insurance rates or get a price match like you can with appliances, vehicles and other goods. Understanding how car insurance companies determine rates may help you understand why car insurance costs are not negotiable. Car insurance companies use algorithms and...

How natural disasters damage homes Natural disasters can cause extensive damage to homes in their path, including broken windows and water or structural damage. In 2022, according to the Insurance Information Institute (Triple-I), insured losses due to natural disasters totaled over $98 billion, up slightly from $93.3 billion in 2021. Here are some of the most common natural disasters...

Reasons to switch life insurance policies If you’ve already got a good policy, you may be wondering why you would want to switch life insurance companies or the type of policy you have. There could be any number of reasons, including the following: Your needs have changed. Perhaps your children have grown and no longer need support, you’ve gotten divorced, your income or estate has...

Can you negotiate an insurance offer? Car insurance companies may not mention that the offer is negotiable, but you can always make a counteroffer. You could start by asking your insurance company to explain how the adjuster arrived at the figure and then dispute any inaccuracies. You may realize when you receive your initial offer that there is additional information or context that you...

1. What kind of life insurance policy should I get? Learning a bit about what kind of life insurance exists before meeting with your agent may help you and your agent speak the same metaphorical language when reviewing your options.  Before you meet with your agent, know that the best life insurance policy is one that meets your needs and the needs of your beneficiaries when you...

What is life insurance underwriting? Life insurance underwriting is a process where insurance carriers assign applicants a classification based on several factors. Underwriters consider several rate factors such as your age, gender and medical history to evaluate risk. For example, if you are a smoker, you will likely face higher premiums than someone who has never smoked. Your policy is priced...

Key takeaways Group life insurance, burial insurance and guaranteed life insurance may be the easiest life insurance policies to get following a cancer diagnosis. The type of cancer you have will likely influence your ability to get insurance. Insurance underwriters know certain types of cancer have a higher survival rate. If you have a higher chance of surviving, you have a better chance...

Bankrate strives to help consumers navigate their auto insurance shopping experience, no matter where they are in their financial journey. Since our founding in 1976, we have built a strong reputation for creating valuable content that gives people the confidence to make smart and informed decisions about insurance and other personal financial needs. Whether you are purchasing a new vehicle,...

What is car insurance? Car insurance is a way to protect yourself financially if you are involved in a car accident or suffer a loss through fire, theft, vandalism or an act of nature. Some types of car insurance only apply if you are at fault in the accident, while others pay when you are not at fault. Furthermore, some coverage types help with medical bills, and others pertain to...