What is the name of the cover bought to reimburse expenses if something goes wrong?

It is sad that some insurance companies try to wriggle out of paying out when someone makes a claim. We are always told to read the smallprint, but how many of us do?

jsh, You are absolutely right. Quick to take your money, not so quick to pay out a claim.

Judging by some of the "answer" bars, some people are in for a rocky road, when it comes to personal financial security.

I always refer to it as "deferred payment" rather than insurance. As soon as you make a claim, they ramp up you premiums till they've clawed every penny back (and then some). Especially car insurance!.

Insurance might become a thing of the past as far as home insurance goes. The whole thing operates like a bet you make with the company. They are taking you on because they're betting you won't need them. But with environmental issues like fires, tornadoes, and flooding, I bet they stop taking on home owners. They aren't in the business of paying people out for claims.

What an odd way to ask that question

jsh, yes, but also, how many people knowingly lie when they fill out the form?

Everyone needs a little insurance

jsh, it should have said coverage not cover