What’s the difference between group life and individual life insurance? However, once the lease has terms to compensate for upkeep of the property that normally would be done by the owner, a policy is required, whether the tenant is compensated separately or by reduced rent. These short objective type questions with answers are very important for competitive exams like CAT, IBPS etc. At The Murray Group, we know insurance can be confusing. Should I have replacement cost or actual cash value property insurance? * Aircraft Answer: Personal property (except property that is specifically excluded) is covered anywhere in the world. What is the difference between whole life and term life insurance? Cooper’s Mulch – Garden & Landscaping Supplies. Can I cancel my auto insurance policy anytime? Question: What is the difference between collision physical damage coverage and comprehensive physical damage coverage? That means you’ll have the answer to your insurance questions in less than 2 minutes! Question: What are some practical things I can do to lower the cost of my homeowners insurance? Does long-term care insurance cover nursing home cost? The type of car you drive, the purpose the car serves, your driving record, and where the car is garaged can all affect how much your automobile insurance will cost you. 2. What is the difference between comp and collision coverage? How is a business owners policy (BOP) different from general liability? Answer: If you live in an apartment or a rented house, renters insurance provides important coverage for both you and your possessions. * Smoke Are no fault and personal injury protection the same coverage? In an effort to provide insurance consumers with the best possible online insurance resource, The Murray Group has answered the 100 Frequently Asked Insurance Questions using video in 2 minutes or less. We’re here to help. Question: Where and when is my personal property covered? This means you’re covered when you are on vacation as well as at home. Channel Management Interview Questions ; Question 28. Life insurance on a non-wage-earning spouse is often recommended for the purpose of paying for household services lost due to this individual’s death. What’s the difference between Bodily Injury coverage and Med Pay? * Weight of ice, snow, or sleet For example, suppose that while traveling, you purchased a dresser and you want to ship it home. Answer: Most states have insurance laws that require drivers to have at least some automobile liability insurance. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium, so learn more about Insurance … Disclaimer: This article is for informational purposely only. Nat'l Flood Ins Program Info 1818. A local, independent agent is able to deliver quality insurance with competitive pricing and local personalized service. How is condo insurance different from homeowner insurance? An existing policy, either term or cash-value life insurance, can be used for many purposes, including paying off an outstanding mortgage loan balance in the event of the insured’s death. Renters coverage applies to your personal property no matter where you are in the world. Find Stories. This guide offers general information only. * Volcanic eruptions (but this doesn’t include earthquake or tremors). Click here to submit your question, and we’ll get you the answer ASAP! What is New York state short term disability insurance? Will I have to pay more for insurance because I’m young? What makes landlord insurance different from homeowners insurance? What are the exclusions on a general liability policy? The easiest thing to do is get a comprehensive review of your policy and needs from your local agent. 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