Auto Insurance

Insurance is a bit like a gamble between you and the insurance company. The company bets that they'll take in more money in premiums than they have to pay out in benefits, whether it's for health insurance, auto insurance, life insurance or homeowners insurance. You're paying a premium every month just in case something happens.

Health insurance is a contract between you and the insurance company that says that the insurance company will pay a portion of your medical expenses if you get sick or hurt and have to visit a doctor's office or hospital. Some contracts also specify that the insurance company will pay a portion of your medical expenses to ensure you don't get sick, such as paying for annual physicals or immunizations. However, the amount of your bill that the insurance company will pay, and under what circumstances they'll pay it is known as coverage and can vary greatly from policy to policy.

The contract, or policy, spells out what the insurance company will pay for and how much of the bill you will have to pay. For example, the policy may cover an office visit, but you may have to pay a $20 co-payment. Or, the policy may not cover anything until you've paid an agreed upon amount out of your pocket, which is known as a deductible. These deductibles and co-payments, along with any other non reimbursable expense you may pay is referred to as an out-of-pocket-expense. Other policies may have co-insurance, which is a percentage of the bill that you're required to pay, which may be in addition to your deductible and co-payment. Often, the total amount of co-insurance you have to pay in a given policy is capped by the policy's maximum. The policy will also state the amount you have to pay each month for the coverage, known as the premium, and the total amount the insurance company will pay out for the life of the policy, which is commonly referred to as a lifetime maximum.

Since a single hospital stay could wipe out your savings and more, not many people can afford to go without some kind of health insurance even if they're healthy. Not only will health insurance protect you from bankruptcy in the event of a major medical event, it also gives you peace of mind.

Marine insurance reimburses financial losses due to damage to a ship and any accompanying properties, including the cargo, from port of departure to port of destination. Available specialty marine insurance policies include those for marine cargo insurance, marine business insurance, and personal watercraft insurance.

One type of marine insurance is individual watercraft insurance which is aimed to target insurance of non-commercial usage watercraft. Individual watercraft insurance is similar to that of automobiles. Similar to automobile insurance, individual watercraft insurance policies might not only cover property losses but also offer individual protection and watercraft liability coverage.

The liability coverage may cover bodily injury to watercraft occupants, along with others who are involved in any accident. Further medical coverage is generally available in a separate policy rider. Uninsured boater coverage is available as well to cover any damage incurred from hit-and-run vessels, or from vessels which lack insurance coverage.

There is also the option of towing and salvage insurance. It can help with smaller incidents such as an engine failure, mechanical breakdowns, or even having fuel delivered to a stranded ship. Towing and salvage insurance can also help to offset the high costs associated with a vessel that has sustained much damage.

Agreed Value or Actual Cash Value forms are what's generally offered for hull coverage on a standard vessel. Because for insurance, it depends on the cash value policies to determine whether when the vessel ages if it will depreciate in value. Some insurance companies continue to pay the full amount without the depending on the depreciation value.

Similarly, marine insurance can cover any and all risks, or just risks and perils specified in the policy. No matter the policy type, it is very important to fully understand all of the stipulations which may render the policy null and void. For example, many policies specify navigational limits which render the policy void if exceeded. Depending on the area, accidentally exceeding navigational limits can be very easy on the water where boundaries are not well marked.

Personal watercraft insurance is available for virtually all watercraft, from small pleasure boats and fishing boats, to large yachts and houseboats. Specialty coverage can include coverage for watercraft rentals, fishing excursions, and other charter boat trips. With a wide selection of insurance companies and options available, finding the right coverage for your craft and situation simply takes a little research.

A basic definition of marine coverage is protection of a ship, cargo or property due to loss or damage while a ship is in transit from one port to another. There are other sub sets of marine insurance, such as marine cargo insurance, marine business insurance and personal watercraft insurance that provide additional coverage. This liability coverage can cover bodily injury to occupants of the watercraft, as well as other people involved in an accident. Additional medical coverage is typically available as a separate policy rider. No matter the policy type, it is very important to fully understand all of the stipulations which may render the policy null and void.