An EUO (Examination Under Oath) is a formal process where the insured party answers questions about the claim under oath. While insurance companies may pay out after an EUO, it depends on the specifics of the claim, the information provided, and whether the investigation uncovers any inconsistencies or fraudulent activity. Generally, if everything is in … Read more
When you’ve been in an accident, the thought of your car being totaled can be overwhelming. But how do insurance companies determine if a car is truly “totaled”? The process involves several factors, from the severity of the damage to the cost of repairs, and each insurance company may have its own way of assessing … Read more
Yes, insurance companies often require your Social Security Number (SSN) for identity verification, credit checks, and fraud prevention. It may also be used for tax purposes, such as reporting claims to the IRS. However, some types of insurance may not require it, depending on the provider and the policy. In-Depth Explanation What Does It Mean … Read more
Yes, you can sue your insurance company under certain circumstances. If they deny your valid claim, delay payments without a valid reason, or act in bad faith, legal action may be an option. However, it’s important to consult with a lawyer to understand the specifics of your case before proceeding. In-Depth Explanation When it comes … Read more
Insurance companies may declare a car “totaled” even with minor damage if the repair costs exceed a certain percentage of the car’s value, or if it’s considered unsafe or unrepairable. Factors like parts availability, labor costs, and car safety all play a role in this decision. In-Depth Explanation When you hear that an insurance company … Read more
PRP (Platelet-Rich Plasma) injections are not universally covered by insurance. While some insurance companies may cover the procedure if deemed medically necessary, many do not. Coverage depends on the specific health condition being treated, the insurance plan, and your provider’s policies. Always check with your insurer for details. What Are PRP Injections? PRP injections use … Read more
To get credentialed with insurance companies, you need to complete an application, provide documentation of your qualifications, and meet the insurer’s requirements. This process ensures that providers are eligible to bill for services and be reimbursed by the insurance company. Explanation in Simple Terms: Credentialing with insurance companies is a process that healthcare providers must … Read more
An insurance company typically has up to 3 years to initiate subrogation. This timeframe may vary depending on the type of claim and state laws. It’s crucial for insurance companies to act within this period to recover costs from a third party at fault. Subrogation Simple Explanation: Subrogation is when your insurance company seeks to … Read more
Insurance companies typically pay between 1.5x to 5x your medical bills for pain and suffering, depending on the severity of your injury. For example, if your medical bills total $10,000, you could receive $15,000 to $50,000 in compensation for pain and suffering. Simple Explanation:Pain and suffering compensation varies greatly based on the injury’s impact on … Read more
As a pet owner, you want to make sure your furry companion stays healthy and happy. One way to do this is by ensuring you’re prepared for any unexpected medical costs, which is where pet insurance comes in. If you’re wondering, “Does State Farm offer pet insurance?”, this guide will provide all the answers you … Read more