Actually, considering that holder’s policies provide a lifetime of coverage (in terms of defense of title), title insurance is relatively inexpensive. Of course, I don’t know what State you are in, and the rates do vary from State to State. Some States’ rates are regulated and set by statute, while other States permit agents and customers to negotiate the final rate.
What is title insurance for?
Title insurance protects you against hidden problems with the ownership of the property, i.e. if the seller doesn’t have utter rights to sell..
It insures that there are no liens or mortgages left unsatisfied on the property. When a buyer purchases a property, title insurance protects them from any claims of ownership, lien, or mortgage placed on the property before the buyer takes title to the property..
If the information upon which the title insurance is based is incorrect, and a claim is asserted against your ownership of the home, then the policy indemnifies or protects you from experiencing a financial loss directly attributable to a claim that is covered by the policy..
If your auto is hit the other driver’s auto insurance pays all medical expenses and so does your health insurance must you reimburse your company?
You do not have to reimburse your insurance company if the accident is the fault of the other driver and the claim is made on their insurance. If the accident is the fault of the other driver and their insurance does not cover everything and you make a claim on your insurance for reimbursement, your insurance will subrogate (collect back) from the other company.
What expenses do insurance agents have to cover?
You name it,,Electrified bill,,,Rent or building payment,,,Errors and Omissions insurance,,,Work Comp,….Same as any other business…
What are the most expensive vehicles to insure?
1. Mercedes-Benz CL-Class.
2. Acura NSX.
3. Porsche 911.
4. Audi A8.
5. Lexus SC 430.
6. Chevrolet Corvette.
7. Jaguar XKR.
8. Dodge Viper.
9. BMW M3.
10. Mercedes-Benz CLK-Class.
How expensive is boat insurance?
It depends on the boat. Length, HP, motor type, assets of water, amount of coverage etc.
What is title insurance?
Title Insurance .
Title insurance is insurance against loss from defects in title to real property and from the invalidity or unenforceability of mortgage liens. It is available in many countries but it is principally a product developed and sold in the United States. It is meant to protect an holder’s or lender’s financial interest in real property against loss due to title defects, liens or other matters. It will defend against a lawsuit attacking the title as it is insured, or reimburse the insured for the actual monetary loss incurred, up to the dollar amount of insurance provided by the policy..
Typically the real property interests insured are fee ordinary ownership or a mortgage. However, title insurance can be purchased to insure any interest in real property, including an easement, lease or life estate. Just as lenders require fire insurance and other types of insurance coverage to protect their investment, almost all institutional lenders also require title insurance to protect their interest in the collateral of loans secured by real estate. Some mortgage lenders, especially non-institutional lenders, may not require title insurance. A buyer should insist upon title insurance, even with a warranty deed, because it will help avoid having to pay to quiet title or obtain a refund from the seller when it turns out they never actually possessed the property rights described in the deed. .
An holder’s title policy is a one-time expense and effective for the entire period that the buyer possesses the property.
If you pay for the insurance or harm waiver on the rental car when you were not at fault can you get reimbursed for that expense If so how?
Yes, I am going on the following assumptions to reaction your question;.
You rented a vehicle and took out the harm waiver, (did you have insurance on another vehicle? If so that switches a few things) had an accident in this rental vehicle thatWAS NOT YOUR FAULT AT ALL ..
You (or the rental company) could file with the ‘at fault’ party. Some rental car companies will chose to use their own carrier for speed, so they can get that vehicle back on the road. In that example, (and evidently that is what happened) once the final payments have been made, their insurance company should file a subrogation claim against the at fault carrier, and recoup all money paid in the claim including the deductible you paid. And in turn will comeback that to you. If the other party is not insured there will still be a subrogation claim, but this generally takes a lot longer..
Let me caution you however, this is under the assumption thata) there was absolutely no negligence attributed to youb) the ‘at fault’ driver had insurance. c) no dispute inbetween the carriers as to liablity..
You should be kept abreast of the investigation, and subrogation claim, if you have not been contact the insurance company that is treating the claim, if you do not have their information, call the rental car company and get it from them..
If you would like to provide me with extra details surrounding the facts of loss etc, perhaps I could be of greater assistance to you, and would gladly attempt…. Good luck !!
Is insurance an operating expense or general expense?
it depends on the type of insurance.. workers compensation insurance, health, dental, or vision are all payroll expense.. building insurance is an operating expense.. Payment of insurance premium should always be treated as general expense,to be shown in the debit side of the Profit & Loss A/c of a Company,whether it is payroll expense for its employees. While preparing individual Balance Sheet, payment of insurance premium where life, medical,home possessor or else, should be shown as payment/expenditure and to claim benefits under Income Tax Act.
Is auto insurance expensive or cheap?
This question is far too broad to be answered directly. A multitude of factors go into the cost of auto insurance, including, but not limited to: 1. What you deem to be “expensive or cheap”; Two. Where you are located; Trio. The insurance company involved; Four. Your driving record and that of others to be insured under the policy; Five. The make, model, and accessories of the vehicle to be insured; 6. The coverages that you purchase. For example, coverage for physical harm to the car alone will result in lower premiums than if the policy also provides for liability or other types of coverage; 7. The amount of the deductible selected. The deductible is the amount for which you are personally liable to pay before the insurance company’s obligation to pay is triggered; 8. Whether the vehicle is used for private or business purposes.
Is auto insurance expensive or inexpensive?
That all depends on your age your driving record and the type of car you drive. If you are older than 25 with let’s say a 1990 utter sized dodge van paid off in total, with a 6 cylinder motor and you have the title to it in your name clean driving record no latest accidents in the past Five years. You can expect a cheap monthly insurance payment. But let’s say your 21 years old, your making payments on a brand fresh corvette & you’ve been in an accident a year ago before you bought it. And the accident was your fault. The title of the car will not be under your name because you are still paying for it, plus you can expect a high monthly insurance payment since it’s a sports car lot’s of power etc. Not to mention it’s on your record about the accident you had the year before. You will be considered a high risk on a fresh hot rod. So the insurance will definitly be high!
What cars are the most expensive to insure?
Im not sure which is the most expensive, but infrequent, limited, classic cars can be expensive, lets take the McLaren F1 car for example, this is a infrequent, expensive, limited car wihch cost more to insure than buying the car itself. Mainly it is expensive to insure powerfull, sporty cars.
Why does the cost of title insurance vary so much in different parts of the country?
Underwriting involved evaluating the risk to a particular chunk ofproperty. Prices and risks will vary depending on the State lawsand regulations pertaining to such matters. The tighter theregulations and laws supporting a lower risk to propertypurchasers, the less the cost of title insurance will be.
What is the title insurance?
Title insurance is protection that ensures that you are the decent holder of the property and that if someone comes forward with a valid claim to a portion of your property, the title insurance company may have to pay that person the value of the claim. In buying real estate you have to make sure that the seller truly possesses the property in utter with no defects in title. The title insurance company reviews the land records to make sure of this. If the company states that the possessor is the utter holder, it backs its opinion with title insurance. Some title defects might not be covered however, but the lawyer helping the buyer will make sure that it is safe to buy the property.
Why is your car insurance so expensive?
because if you get in a wreck…your insurance has to pay for it and you have to pay alittle money to help them pay gor your accident. because if you get in a wreck…your insurance has to pay for it and you have to pay alittle money to help them pay gor your accident.
Insurance to cover funeral expenses?
Burial insurance (aka funeral insurance) is a basic issue life insurance policy that covers people’s burial expenses. Burial insurance is promoted as a way to pay in advance for your funeral expenses so that your loved ones won’t have to pay for your funeral. There are many things you can do to make your death lighter on the wallets of those you love. Preplanning your funeral saves money and trouble, as well as determining whether you want to be buried in a casket or cremated and put into and urn, figuring out who gets what part of your estate, and which company to choose for your ideal term life insurance policy (if you’re a senior).
Is SR22 insurance expensive?
Generally no, SR22 Insurance is not any more expensive than any other auto insurance. However, If you have encountered a serious disturbance that caused you to need an sr22 filing, You may pay higher premiums due to that offense, ticket or other disturbance.
Insurance an asset or expense?
Insurance is an expense, it should never be considered an asset. That is why cash-value policies are not recommended. Stick with plain term insurance and you will save money.
Why is medigap insurance so expensive when it only pays 20 percent of what medicare pays?
private insurance companies don’t have a large pool of money like the federal gov does, notice that medicare cost 96.40 but again that is b/c the federal gov as basically unlimited resources. private insurance don’t. Medicare will only pay 80% of approved medical procedure’s and that’s it. Medigap pays the 20% copay that medicare doesn’t pay. It’s expensive because the companies that suggest it are private business that is profit motivated. When people reach 65, it is assumed there will be more serious medical problems and that might cost the Medigap companies more than they want to pay. One has to recall they have all those executive paychecks to pay as well as the normal cost of doing business. Insurance is a gamble and they gamble a person isn’t going to need expensive medical care.
Are Audi’s expensive to insure?
In most cases yes. They are usually high spectacle very first of all, and they are truly expensive to fix.
INSURANCE is admin or selling expense?
If you r buying a life insurance scheme & paying prm for the same then its a drawing in your books of accounts & not your expense. If you r buying general insu. For your equipments, furniture, material etc agst theft or loss or any such purpose then it is your admin exp. If you are insuring goods in transit then only it is selling exp.
Is insurance an administrative expense or selling expense?
Insurance is an administrative expense as administration isauthorized to do all these kind of expenses.
Are Saab’s expensive to insure?
No, while SAABs are noted for their excellent spectacle, they also have excellent safety features which keeps the cost of insurance relatively low. They also have a low theft rate.
Is Prepaid insurance expense an asset?
Prepaid insurance premia is to be shown in the Profit & Loss Account, and not as an asset in the Balance Sheet.
Where do you get title insurance?
You obtain title insurance from a licensed title insurance agent; I would not purchase it from a captive agent (that is, from the lender providing my loan, or from the realtor listing/selling the house).
Why have owners Title insurance and title insurance?
The lender requires a policy at time of purchase or refinance to protect itself, but this policy provides no coverage whatsoever for the proprietor in case of a title defect. The possessor should purchase an proprietor’s policy at the time they buy the house to cover their interest. They will not need to purchase another holder’s policy when they refinance. The policy will cover them as long as they own the house. Added by Title Geek: The Possessor’S policy covers/detects the history of holder’s in the property as well as identifies easements, condition, prior agreements, rights of ways and many other matters affecting the property. The Proprietor’s policy insures to the date you purchased and recorded the fresh deed into your name. It does not cover YOUR acts after you have purchased the property. The MORTGAGE policy covers the Lender’s financial interest into the property. All lender’s require mortgage title insurance on a purchase or refinance to cover their financial interest in the property. They will require updated coverage on a Mortgage Modification. In many cases, they waive title insurance on a Home Equity Line of Credit (HELOC), based on the amount of the HELOC. Typically, if the HELOC is less than $50,000.00, they may not require title coverage.
Why is car insurance for youthful drivers so expensive?
Car insurance is more expensive for junior drivers due to the fact that their lack of driving practice makes them a higher risk. Insurance companies charge based on a number of factors that contribute to your overall risk as a customer.
Is catastrophic health insurance expensive?
The cost of catastrophic health insurance will vary according to your risk factors (for example, if you smoke, drink strenuously, use drugs, or have a family history of cancer or other serious illnesses), your credit rating (in some states), geographic location, and family history.
Is direct travel insurance expensive?
Direct travel insurance can be expensive it depends on where you are traveling, when and all the finer details of your tour and what you would like to have covered.
How expensive is Globe Life insurance?
globe life insurance has two types of coverage term life and entire life. Both entire life and term life have unique costs but both can be just from around a dollar a day.
Is recreation vehicle insurance expensive?
While most vehicle insurance does fairly a bit of money, having insurance is always a good investment. Companies like Good Sam and GEICO suggest insurance packages for RV’s with monthly rates ranging from $50 to $200.
How expensive is makeshift health insurance?
Makeshift health insurance cost is figured by main different factors. The company you go through, the state or even your city, age, number of dependents,deductible, duration, duration of coverage, and frequency of your payments to them may all be factors in your expense for coverage. Contact your car or home insurance company to see if they do health some time you can save by bundleing.
What is the expense of an auto owners insurance?
It depends. There are many conditions that weigh in the cost of one’s auto insurance. A person’s age, location, gender, car type, and whether or not you are a good driver.
Is an insurance expense an account payable?
No, insurance expense is not a liability but rather an operating expense. Expenses are listed on the Income statement and are taken out of gross income (revenue). It is very doubtful you will ever see insurance of any type listed in the liability section of the balance sheet. Expenses are never listed as a liability but when creating a trial balance, post closing trial balance etc. Expenses are listed under the asset section. This is mainly due to the fact that expenses increase with a debit and decrease with a credit, similar to that of assets, however expenses are neither listed as an asset or liability but rather an operating expense. The only time insurance is listed as an asset is when it is prepaid. Prepaid insurance (insurance paid in advance) is an asset account. For example, Company X pays $12,000 for a one year insurance policy on January 15th, the policy renews the 15th each month. The very first recording of the transaction will be listed as; Prepaid Insurance (dr) $12,000Cash (cr) $12,000After the initial posting adjusting entries will be made accordingly. On February 15th the company will adjust the previous entry; Insurance Expense (dr) $1,000Prepaid Insurance (cr) $1,000January premium expired.
Is insurance expense an administrative expense?
Unless it says its insurance for the office (administrative) or insurance for drycleaning (dry cleaning expense) it will be counted as an administative expense.
Is insurance for a Suzuki motorbike expensive?
The brand of motorcycle has less influence on price than other factors. Insurance rates are primarily based on the driver, than the vehicle. The larger the engine, the higher the rate. Likewise, an inexperienced rider will pay more than one with ample practice.
Why is car insurance for an Audi so much more expensive than other cars?
Actually, Audi car insurance tends to be less than many other cars of the same (luxury) class but will be more than cars of different classes because they are luxury cars and thus more expensive to purchase. The more expensive a car is to purchase, the more it will be to insure.
Is antique auto insurance expensive?
“Yes. Antique auto insurance can be rather expensive. It also comes with a lot of stipulations, As in keeping the car in a locked and closed garage when not in use, you have to be of at least 26 years of age, a good driving record with no more than one fault within the last three years. And the car cannot be a means of everyday transportation.”
How expensive is Stonebridge life insurance?
“Stonebridge Insurance Company offers different types of life insurance policy, from accidental life to regular life insurance. You can base your payments by what you can afford by a elementary quote.”
Is Swinton Car Insurance expensive?
Swinton Car insurance is a company that serves the residents of the United Kingdom. It’s cheaper than most insurance companies over here because they have a cash back program.
How expensive is fresh driver insurance?
“Fresh driver insurance is expensive; it is sometimes up to 50% more than what it will cost after the drive is 25 years old. However, most insurance companies suggest discounts for grades and reputation from the school.”
How expensive is Statefarm Insurance?
“Statefarm Insurance’s rates tend to fall in the middle of most insurance company’s rates. For example, one customer got a quote at $167 a month for their basic insurance which is about average from other companies.”
Is it expensive to insure dodge charger?
Not as expensive as it is to own one. Chrysler cars are not and perhaps never will be as reliable as Japanese cars, but let’s hope for the best and that you take excellent care of your cars. To get back to insurance, your rate depends on many factors, here are a few; .
driving record (and time since previous offenses) .
car you drive .
where you live .
what you use your car for .
discount for other insurance with same company .
some features of car can reduce cost .
length of time you have been driving .
the company you insure with .
how many miles you claim to drive .
what type of coverage you want .
do you waive the under/un-insured as required to avoid paying in CA for them .
have you taken driver safety courseNotes on types of coverage, generally .
liability single and accident – it is your fault and your company pays someone else for your mistake, single limit and limit per accident .
collision – it is your fault you mess up your own car .
theft – evident .
uninsured – covers someone hitting you without being insured .
under insured- covers someone hitting you without enough coverage (the rich lady would want this if she had two kids in her car all the time…) .
comprehensive – usually a combination of collision and theft (since most bastard car companies know that theft is much more likely than collision they always lump the two together. If you have a newer car, the comprehensive will run you anywhere from low $1000s to $5000+ extra a year, so say that you have to pay $3000 extra for comprehensive; you have to ask yourself the following.. .
will i want to pay $3000 to fix my car if I break it? .
what is the deductibleI have to pay beforeI get my claim paid .
am I the typewho can savea large deductible or would I ratherpay a little more everymonth in case of emergency? .
what are the chances my car will get stolen this year? .
If someone stole my car would it prevent me from earning a living? #Five is averysignificant questionmost people never consider. Do I have enough saved up to buy a fresh or replacement car if I had to tomorrow? You see, there are SO many more questions than just “How much is the insurance rate?” I hope I have helped you think a little deeper about the car you buy, what type of insurance to get and how much to get. I will save in closing that I am not a licensed agent and I mean this all as information from a fellow US citizen. I am 30 and have an accident a few years ago, almost off my insurance hit list, so I am very familiar with coverage, saving money and being charged a lot of money for insurance. Lastly, consider roadside coverage and ask them HOW FAR WILL YOU TOW ME. Very significant question, you don’t want to have to pay an arm and a gam to get to where YOU WANT TO GO. Not where the tow truck driver feels like taking you, however they are nice enough and are hard working people. I could go on, embark with these and ask your agent, or some agent, what you can do to improve your rate. ***I would NOT recommend always getting the cheapest coverage.*** If you rear-end some lady with her two kids in the back of their $100K Benzo and her kids embark weeping, you will commence to crap your pants if you have , say $15K/$30K with $5K property and you know you are broke and she looks like the suing type. Don’t risk it. Get ahealthyamount of insurance and don’t drive so much or make more money if you can’t afford it now. Have joy! And don’t leave behind, Ten years ago gas was about $1.50 a gallon, now it is near $Four where I live. Do you want the V8 or the V6 is a fine question. I ensure the V8 is more expensive to insure than the V6 with equal boundaries. Fine question for an agent!
Why are health insurance policies for individuals so expensive?
There are many reasons that Health Insurance is so expensive. Some reasons are the cost of prescription medicines are high, and also the Health Insurance companies need to make a profit as well.
How expensive are insurance for home and auto?
Costs vary for insurance for your home and auto depending on a number of factors. For auto insurance, the value of your vehicle, length of time driving, and credit record are significant factors. For home insurance, the value of your home and your credit rating will determine insurance costs.
Why is car insurance for sports cars so much more expensive?
This is due to the greater likelihood of accidents taking place which involve sports cars. This means that the risk of a claim being made against the insurance company is higher, and so they charge a higher price to cover their risk.
How expensive is elderly life insurance?
If an elderly person determines to begin buying life insurance, it will cost much more on average than for a youthful person. This is because elderly people are more likely to die, either by accident or from natural causes, and the insurance company will not want to suggest cheap insurance to someone who pays them little before requiring it.
What are some reasons that private medical health insurance is so expensive?
Healthcare AFTER Obamacare is expensive, because of the fresh regulations and taxes it imposes.Before Obamacare, private healthcare was only expensive because doctors would buy malpractice suits, because 7% of doctors were responsible for malpractice.Issue tort reform, get rid of Obama care, BOOM. Private prices drop to where they belong.
Why is insurance so expensive for teenage drivers?
Insurance is expensive for teenage drivers for a number of reasons. The number one reason being that they are very irresponsible and don’t necessarily go after all the rules at all times. Other reasons include their phone, distractions, and drinking and driving.
Are imported cars expensive to insure?
Imported cars are generally more expensive to insure. This is due to having to pay for the extra cost of shipping over parts in case an accident occurs.
Is insurance expense an asset or liability?
Prepaid insurance would be an asset. Insurance expense is when theinsurance has been used up, thus making it an actual expense on theIncome Statement. Whereas Prepaid Insurance on a Balance sheet isclassified as an Asset.