How does comprehensive insurance differ from collision insurance?

Comprehensive insurance covers non-collision-related damage (e.g., theft, fire, weather damage), while collision insurance pays for damages when your car collides with another vehicle or object. Both are often purchased together for full coverage.

Are perils different for home and auto insurance?

Yes, home insurance covers perils like fire, theft, and weather damage, while auto insurance covers additional risks like collisions, vandalism, and uninsured motorist damage.

What happens if an insurance claim is denied?

If a claim is denied, the policyholder can request a review, submit additional evidence, or file an appeal with the insurer.

How does AI impact privacy and data security?

AI impacts privacy and data security by requiring large amounts of data to function effectively. This raises concerns about how personal information is collected, stored, and used. If not properly managed, AI systems can be vulnerable to cyberattacks or misuse, leading to data breaches and violations of individual privacy. Strong encryption and ethical data management practices are crucial in mitigating these risks.

What is a surplus share treaty?

A surplus share treaty allows the insurer to retain risks up to a set amount and cede excess portions to the reinsurer, increasing risk flexibility.

Does travel insurance cover adventure sports injuries?

Standard travel insurance often excludes high-risk activities like skiing, scuba diving, and bungee jumping. However, some insurers offer adventure sports riders that provide coverage for injuries sustained while participating in these activities. Always check the policy for exclusions and add-ons.

What happens if the policyholder dies before the policy matures?

If the policyholder dies before maturity in a life insurance policy, the insurer pays the sum assured, along with any applicable bonuses, to the nominee or beneficiaries listed in the policy.

How does an endorsement differ from a policy rider?

While both terms are used interchangeably, a "rider" often refers to life insurance policy additions, while "endorsement" can apply to all types of policies, including auto or home.