General Insurance

@Nova Insurance companies generally have to follow notice rules, and regulators do enforce them.

Yes, insurers are legally required in most U.S. states to send you written notice before increasing rates, canceling, or non-renewing your policy — usually 30 to 60 or more days in advance, depending on the state and the type of policy.

In everyday practice, most reputable companies do send these notices because it’s part of their compliance with state insurance laws. Failure to comply may be seen as a violation of state rules, making actions like cancellation potentially invalid.

When you file a complaint with your State Department of Insurance, it's not just paperwork; they can investigate, penalize the company, enforce rules, and restore unjust cancellations or rate hikes. Habitual disregard of notice requirements can lead to financial penalties or other sanctions.

They usually adhere to these rules, and standing up for your rights by using a regulator can have significant effects on the insurer, not just more forms for you.

Recent U.S. trends show that this happens because insurers negotiate prices and require billing through benefits, which locks you into a system that isn’t always the cheapest.

Ask your doctor or pharmacist for "good faith estimates," consider using discount programs like GoodRx, or request a formulary exception for a cheaper alternative. That way, you can legitimately pay cash where it’s cheaper, without insurance pushback.

@BlytheStone The best strategy here is to partner with an independent broker who specializes in your niche. You don't want a "set it and forget it" policy. You need an expert to regularly assess your risks and update your insurance coverage as your business grows and becomes more complex.

@JunoJupiter said in Landlord Insurance:

I've got landlord insurance, but I’m still worried about personal liability. Realistically, how much more protection does an LLC actually offer me? When do filing costs and extra documentation start to outweigh the comfort I receive, especially if I'm only managing one or two properties?

Okay, adding an LLC can definitely provide an extra layer of legal protection in the U.S., but if you only have one or two properties, the benefits aren't always as substantial as people think. If you don't keep your business records perfectly separated, a court can 'pierce the corporate veil' anyway. A strong insurance policy might make the costs and paperwork of an LLC more trouble than they are worth.

Buying home insurance is not mandatory here. But if you have a mortgage, then mortgage lenders demand it.

Home insurance covers your home from any damage, like storms, fires, etc., and your personal belongings (furniture, electronics).

And in some cases, it gives you additional living expenses in case your house is not livable due to any issue.

The landlord’s insurance will not cover anything you own on or around the property. Only plumbing or roof leaks can cause water damage that landlord insurance can fix. So don’t think your landlord’s insurance covers water damage.

If the tenant has done some water damage, then the tenant is responsible for the cost of repairs. The landlord is responsible for the cost of repair if the water damage is due to a problem with the building.

If you face water damage in your rented apartment, you can take the following actions:

Document all the damages (pictures, videos) and inform the landlord as soon as possible. Turn off the water supply if possible so that it will not be damaged further. If your rented apartment has insurance, submit all the necessary documents to claim damage.