What percentage of insurance premiums are ever paid out by insurance companies to their customers?

Q. Considering that the insurance industry uses the government to force people to buy their product and frequently advertises on TV, it doesn't seem like a very high percentage of premiums are paid out. Does the insurance industry pay out even half of its revenues in claims? A quarter? 10 percent?

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How can a Nationwide insurance agency discriminate aganist a breed of dog trying to obtain homeowners insuranc?

Q. Nationwide insurance is discriminatory aganist pit bulls as they do not give quotes or cover homeowners for homeowners insurance if you have a pit bull. I hate bad owners that make it so hard for good owners and good pit bulls, it's absurd!!!! Are there other insurance agencies that do this wrongful act too???

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Can i start insurance on a new car with a new insurance provider before the current policy runs out ?

Q. My current car insurance policy runs out at the end of the month and I will not be renewing with them. I am getting a new car approx 2 weeks before the expiry date. Can i start the insurance with another company and 'overlap' the insurance ?

A. You CAN do that since you are changing anyway.

You might want to notify your PRIOR insurance company once you have the NEW coverage in force - just to avoid any duplication of coverage and any "earned premium." If the company automatically renews and you don't inform them, they might try to collect for the time you had coverage in force.

Just show them a copy of your NEW policy and they will cancel the old.

That's the way it SHOULD be done.

Good luck, drive RESPONSIBLY and I hope this helps!

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Insurance question, looking to start a business, elder home care in Wisconsin.How to become bonded and insured?

Q. I don't think my insurance company (American Insurance) offers bond and insurance for someone in my field. Also need affordable health insurance with relatively low deductible. Any suggestions would be helpful.

A. You'll need to talk with two agents. The first will be a commercial insurance agent for the business. The second will be a health insurance agent. Make sure both are able to represent several different companies.

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What auto insurance company will give me a good price after lapsing insurance?

Q. I had geico and my insurance lapsed. Everyone wants so much money now since i lapsed previously. Ive tried all the major companies. Does anyvody know of a cheap insurance that i can look into? Right now everyone wants around 7-800$ for 4 cars liability. Rediculous.

A. You let your insurance lapse. That makes you high-risk and you don't get the "good price" on your insurance.

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How quickly are insurance companies supposed to provide COBRA information after your insurance ends?

Q. I had active insurance until November 2010. Now, the insurance company is saying that it was actually cancelled through my husband's company in June and are requesting the monies back from doctors. However, they didn't even send out COBRA information to me until November 23. Can they do this?

A. How, exactly, did it come to be that your husband's company cancelled his insurance in June?

If the EMPLOYER cancelled the group plan, and no longer has health insurance, then there IS no cobra. Cobra is just a CONTINUATION of whatever the people still employed, have for insurance. If they have nothing, there's nothing to continue.

If the employer sends the COBRA information late, the date they mailed it, starts the clock ticking on the 60 days you have to accept or decline. So, you're within DAYS, and if you WANT to keep it, you can - the catch is, you have to RETROACTIVELY pay your premium for the insurance. There's no "free insurance". So, that would be July through January, and February's payment would be due February 1st.

Yes, they can do this. They're SUPPOSED to notify you within 45 days. Their failure to do that, gives you EXTRA TIME to decide if you want to keep it or not.

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What kind of insurance do insurance companies need to buy for their own company?

Q. I want to start an insurance company, but I need to know what kind of insurance I need to purchase for my own company. I have done research and can't find this. (Please do not tell me how to start one, or anything else besides what insurance I need, if any.)

A. Do you want to start an insurance company or an insurance agency? There is a difference. I'm guessing you want to start an agency because if you had the millions of dollars needed to start an insurance company you'd have the knowledge already or at least the money to hire someone who knew.

For an agency you'll need E & O insurance. Also, depending on your situation you'll need a business general liability and property coverage. You'll need business auto or at least a business classification on your auto insurance if you have vehicles. If you hire someone you'll need workman's comp and possibly health insurance, disability, etc. for the employees.

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How is mandating insurance companies to insure children with preexisting conditions called insurance?

Q. If the government is telling insurance companies that they have to giving insurance to children with a preexisting conditions; isn't this simply telling insurance companies to pay for all children with a sickness? How is that legal?

A. Health insurance companies are not actually insurance companies. They are Health Maintenance Organizations (HMO), they were created by the federal government. If we had real health insurance, just like we have car insurance, then it would be cheap and competitive.

I don't know if everyone in the federal government is mentally retarded or just evil. They create all of these horrible problems (they caused rising rates by creating HMOs), and then the "solution" to the problem they created is always for the federal government to take over and eliminate the private sector.

If America does not wake up, there will be no private sector left.

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