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Equity Insurance Group

Insurance, United States, Florida, Tampa

Protecting what matters most with personalized insurance solutions and expert financial advice.

About Equity Insurance Group

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Basics

Type
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Founded
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Total Employees
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Employees on Linkedin
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Employees on OWCareers
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Main Office
United States of America, Florida state
Official Website
http://www.equityinsgroup.com
Location Address Official Phone Email
United States of America, Florida state United States, Florida, Tampa **** ****
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FAQs – Equity Insurance Group

Why do insurance policies have exclusions?

Insurance policies include exclusions to prevent fraudulent claims, limit high-risk events, and keep premiums affordable. Without exclusions, insurers would have to charge significantly higher premiums to account for all possible risks, including those that are avoidable or uninsurable, such as war or intentional damage.


Are customer belongings covered under my business property insurance?

No, business property insurance typically covers only business-owned items. For protection against customer property damage, businesses may need general liability or bailee’s customer coverage, depending on the industry.


Is the sum assured paid in lump sum or installments?

Most policies pay the sum assured as a lump sum, but some offer installment options, staggered payouts, or monthly income benefits based on policyholder preference.


How does insurance work?

Insurance operates on risk-sharing. Policyholders pay premiums, pooling resources with others. When a claim is made due to a covered loss, the insurer compensates the policyholder based on policy terms. This system helps individuals or businesses recover from financial setbacks while mitigating overall risks.


How do inflation and economic changes impact premiums?

Inflation can increase premiums for policies tied to cost-of-living adjustments. Economic downturns may also affect insurer investment returns, potentially leading to rate adjustments.


How does adverse selection affect health insurance markets?

If only high-risk individuals purchase coverage, insurers face higher claims costs, leading to premium increases or policy restrictions for everyone.


Who needs professional liability insurance?

Any professional providing services or advice, including doctors, lawyers, consultants, accountants, architects, and engineers, should consider PLI. It is particularly crucial for those in industries where mistakes or omissions could lead to financial loss or harm to clients.


Do whole life insurance policies pay dividends?

Some whole life policies from mutual insurance companies pay dividends, which can be used to buy additional coverage, reduce premiums, or be taken as cash.


Comprehensive Market Research

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