Life insurance policy availability for coronavirus coverage may soon shrink

Life insurance policy - person wearing mask using computer

Insurers feel the COVID-19 pandemic comes with too many uncertainties to offer cover. Life insurance policy sales have been spiking since the start of the COVID-19 pandemic, but the availability of this coverage may not continue as it has been. Insurers have been faced with a sudden and dramatic amount of unknown coverage data. Life insurance policy sales are based on the answers to several questions and the use of actuarial tables to determine each applicant’s rates. However, with the addition of the coronavirus pandemic, the factors influencing what an…

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Arkansas places moratorium on tornado insurance policies to protect homeowners

Tornado insurance policies - Tornado - Storm

The 60-day moratorium stops insurers from being able to cancel coverage to residents affected by Saturday’s twister. The Arkansas Insurance Department has issued a 60-day moratorium on the cancellation of tornado insurance policies. This move was made following the Jonesboro tornado that ripped through homes, a mall and other buildings. This is meant to stop insurers from cancelling coverage of affected Craighead County residents. Residents affected by the Jonesboro twister cannot have their tornado insurance policies cancelled due to non-payment for another 60 days. That said, it is only affected…

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FEMA announces 120-day NFIP grace period for flood policy renewals

NFIP grace period - Flood - homes

The Federal Emergency Management Agency is lengthening this time from having been 30 days. The Federal Emergency Management Agency (FEMA) has announced the extension of the NFIP grace period for flood insurance policy renewals to 120 days. The National Flood Insurance Program’s limit used to be thirty days. The reason the NFIP grace period length has changed is that FEMA is aiming to provide customers with relief at the moment. It acknowledges that many people are struggling with financial hardships from the coronavirus pandemic. Therefore, the extension is meant to…

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Allstate eases delivery driver insurance terms in Oklahoma

Delivery Driver Insurance - Person driving car

As the need for reliable deliveries skyrockets, those using personal vehicles enjoy loosened coverage rules. Allstate has voluntarily relaxed its regulations for delivery driver insurance for individuals using their personal vehicles for commercial reasons, said the Oklahoma Insurance Commissioner. The goal is to make it easier for people to receive food and medicine during the COVID-19 outbreak. The Oklahoma Insurance Department has stated that Allstate alerted regulators of its decision. The insurer wanted to ensure that delivery driver insurance was in place. This way, workers would be properly covered when…

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Bicycle repair business insurance for shops protects your financial future

Bicycle Repair Business Insurance - Man repairing bike

These types of store typically offer a wide variety of different kinds of products and services. Bicycle repair business insurance can look a lot like other types of store coverage. That said, it’s important to make sure your policies are fitted to your unique needs. Clearly, this may not be the same as those of a bookstore or hair cutter’s salon. Your company may offer repairs, product sales, as well as safety courses and other types of training. As a result, there are various types of bicycle repair business insurance…

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Tips to Help You Save Money on Health Insurance

Health insurance exchange - Computer - heart - hand - heartbeat

Your health is the most valuable thing you will ever own. You, therefore, need to do whatever it takes to ensure that it is protected. There is no better way to do so than by investing in a good health insurance coverage, which not only provides you financial support but also affects your health positively and gives you peace of mind knowing that everything is covered regardless of what happens. So many individuals do not have health insurance coverage, and that is because they view it as a super expensive…

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A homeowners insurance review is important at the start of every spring

Homeowners Insurance Review - Residential

Property coverage should be re-examined annually, and this season presents a good opportunity. Experts in the industry typically recommend that property owners conduct a homeowners insurance review once per year, and the spring is an ideal time to do it. The start of this season allows property owners to ensure they have adequate coverage for the year ahead. With the fresh starts that come with springtime, a homeowners insurance review can help policyholders to ensure that their coverage is still appropriate for their needs. This way, they can know that…

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