All laws are state-based, although there are some differences, the following are common. There are two forms of insurance, “compulsory third party” (CTP) and “extended” A mandatory third party is mandatory and requires registration or re-registration of a vehicle. It covers people (including you and your car passengers) who were injured in a motor vehicle …
Simply put, insurance companies are a form of organized gambling. If you buy a policy gambling you will need to pay them – whether it is home, car, life or any other risk. They charge a premium for your policy so that they do not collect more premium than they claim. The difference is the …
The world is full of chaos. However, people hate random and bad surprises and prefer to make predictions. Insurance companies help reduce the risk to the entire population and reduce the number of surprises. It reduces the chaos of life and enables us to be less stressed. Let’s take the case of auto insurance which …
In this case, to say “USA” is to say “Europe”, since most matters relating to auto (traffic law, ownership, registration, insurance, etc.) are matters of the individual state, not of the federal. Sarkar remembers my P&C training in the 90’s as a former Progressive and Liberty Mutual Insurance agent trying) I tried to explain it …
You may think that the insurance companies will cover the loss in case the person or object is damaged in any way. But the question is where do they get this Life Insurance money from? If you talk about life insurance, it will be clear to you how they do it. Suppose the number of …
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