What perils are covered under comprehensive auto insurance?

Comprehensive auto insurance covers non-collision-related risks such as theft, vandalism, fire, falling objects, floods, storms, and animal-related damages. However, it does not cover collision damages or normal vehicle wear and tear. Deductibles and limits apply, so it’s important to check the policy terms.

How is AI transforming industries?

AI is revolutionizing industries by automating processes, enhancing decision-making, and improving efficiency in fields like healthcare, finance, manufacturing, and customer service, leading to increased productivity and cost savings.

What happens if a reinsurer rejects a facultative reinsurance proposal?

The primary insurer must either retain the full risk, seek another reinsurer, or adjust coverage terms to make the risk more acceptable.

How is the payout for business interruption insurance calculated?

Payouts are based on the business’s historical financial records, including net income, fixed expenses, and projected earnings. The insurer calculates lost revenue and necessary expenses to determine compensation.

Will surrendering my policy affect my credit score?

No, surrendering a policy does not directly impact your credit score, but losing coverage may affect financial planning, and unpaid loans against the policy can have consequences.

Does E&S insurance offer customizable coverage?

Yes, E&S insurers can tailor policies to fit unique needs, providing flexible terms not available in standard insurance markets.

How does business insurance protect companies?

Business insurance helps companies manage risks by covering losses due to property damage, lawsuits, employee injuries, and business interruptions. Types include general liability, professional liability, commercial property, and workers' compensation insurance, ensuring financial stability in case of unforeseen events.

What should I do if someone else is at fault for the damage?

File a claim with their insurer and provide necessary evidence like photos, police reports, and witness statements. Your insurer may assist through subrogation.