Your Insurance Questions Answered

It covers everything from the interior walls inward, including fixtures, flooring, and improvements you've made to the unit.

You choose a deductible amount that you'll pay before insurance covers a claim. Higher deductibles generally mean lower premiums.

Yes, to protect your investment and personal property, even without a mortgage requiring coverage.

Standard policies have limits on valuable items like jewelry. Additional coverage through scheduled personal property endorsements may be needed.

Coverage typically follows the master policy's delineation of responsibility between individual units and common elements.

Location, coverage amounts, deductible, unit features, security systems, claims history, and credit score influence premiums.

Your loss assessment coverage can help cover your share of costs that exceed the HOA's coverage limits.

A Health Savings Account allows tax-advantaged savings for medical expenses when paired with a high-deductible health plan.

COBRA allows employees to maintain their health insurance after leaving employment by paying the full premium plus administrative costs.

Core benefits usually include health insurance, dental and vision coverage, life insurance, disability insurance, and retirement plans like 401(k)s.

HMOs require selecting a primary care physician and referrals for specialists but cost less. PPOs offer more flexibility in choosing providers but typically cost more.

Coverage can include cars, trucks, vans, specialty vehicles, and sometimes trailers, depending on the policy and carrier.

Eligibility varies by employer and plan type. The Affordable Care Act requires coverage for employees working 30+ hours weekly.

It provides partial income replacement when employees can't work due to covered illness or injury, typically for 3-6 months.

FSAs allow pre-tax contributions for medical or dependent care expenses but typically require use of funds within the plan year.

Employers match a percentage of employee contributions up to a certain limit, essentially providing free additional retirement savings.

Open enrollment is an annual period when employees can change their benefit selections for the following year.

A deductible is the amount employees must pay for covered services before insurance begins paying. Higher deductibles typically mean lower premiums.

Most plans use tiers with different copays for generic, preferred brand, and specialty drugs.

It provides income protection for extended disabilities, typically kicking in after short-term disability ends and lasting until retirement age.

Many dental plans require waiting periods before covering major procedures, though preventive care is usually available immediately.

Term life provides coverage for a specific period, while whole life includes an investment component and lifetime coverage.

Events like marriage, birth, or job loss that allow benefit changes outside open enrollment periods.

Typically covers routine exams and provides allowances for frames, lenses, or contacts with copays for additional features.