Planning Ahead of Disasters -- Savings Experiment
Experts discuss what kinds of documents you need for insurance claims in the case of an emergency.
Experts discuss what kinds of documents you need for insurance claims in the case of an emergency.
Superstorm Sandy is expected to cost a staggering $50 billion, with as many as 200,000 claims for wind damage and 20,000 claims for flood damage filed by consumers. The sooner those claims are filed the better, but that doesn't necessarily mean everyone will get what they ask for.
Frankenstorm is coming, but let's assume you did the right thing in getting insurance to protect yourself against heavy weather and floods. If the storm hits you, your next challenge may be getting the insurance company to pony up the cash instead of trying to deny your claim.
Insurance companies take notice of customers who file a lot of claims. At some point, these become unprofitable customers, driving their insurers to raise their rates -- or cancel or refuse to renew their policies. With that in mind, here are five situations where it may be less costly in the long run if you simply skip filing a claim and pay for the losses yourself.
Breast cancer is the second most common cancer among American women: 12% will develop it at some point in their lives, and at that point, the health battle begins. But those women often must fight one a second front as well, dealing with the multiple threats cancer poses to their financial well-being.
So, let's assume you did the right thing in getting insurance to protect yourself against those times when Mother Nature comes knocking. Your next challenge may be getting the insurance company to pony up the cash instead of trying to deny your claim.
The spike in banking litigation didn't come, protecting insurers and reinsurers from hefty claims. Look for pricing to stabilize, only a year after the crisis.







