Are you looking for reliable and affordable insurance options that cater to your unique needs? Look no further than Jericho Share Insurance! As one of the leading providers in the market, we pride ourselves on offering comprehensive coverage at competitive prices. But don’t just take our word for it – read on for our latest Jericho Share Insurance reviews from satisfied customers who’ve entrusted us with their protection.
What is Jericho Share Insurance?
Jericho Share Insurance is a financial services company that offers share insurance coverage to its clients. The company is headquartered in New York City and was founded in 2008. Jericho Share Insurance has been accredited by the Better Business Bureau since 2012 and holds an A+ rating.
Jericho Share Insurance offers two types of share insurance coverage: personal liability coverage and property damage coverage. Personal liability coverage protects the client from lawsuits that may arise from accidents that occur on the property where the Jericho Share Insurance policyholder lives. Property damage coverage protects the policyholder’s home from damages that may occur due to fire, theft, or vandalism.
Jericho Share Insurance also offers a variety of other services, such as life insurance, health insurance, and pet insurance.
How does Jericho Share Insurance work?
Jericho Share Insurance (JSI) is a not-for-profit, member-owned insurance company that offers deposit protection and loan guarantees to credit unions in the United States. JSI is backed by the full faith and credit of the United States government.
Credit unions insured by JSI are members of a federal or state chartered credit union, have operations primarily in the United States, and have elected to be covered by JSI. Each credit union’s board of directors decides whether to participate in JSI. If a credit union elects to participate, it must do so for all share and deposit accounts, including individual retirement accounts (IRAs).
There is no cost to the credit union or its members for JSI coverage. Credit unions pay premiums to cover the expected costs of losses, and these premiums are based on the types of shares and deposits insured. The amount of coverage provided by JSI depends on the type of account:
* For share accounts (including IRAs), each member is insured up to $250,000 per account type
* For deposits held in non-interest bearing transaction accounts, each member is insured up to $250,000 per account type
* For certificates of deposit (CDs) issued by a participating credit union, each member is insured up to $250,000 per account type
* Money market deposit accounts areinsured at par value
What are the benefits of Jericho Share Insurance?
Jericho Share Insurance (JSI) is a nonprofit, member-owned insurance company that provides deposit and loan protection to credit unions in the United States. JSI is the largest provider of share insurance in the credit union industry, insuring over $60 billion in deposits and $9 billion in loans.
JSI was created in response to the Credit Union National Extension Bureau (CUNEB) becoming insolvent in the early 1990s. JSI is overseen by a Board of Directors made up of credit union representatives from across the country.
JSI is federally insured by the National Credit Union Administration (NCUA), meaning that deposits are protected up to $250,000 per account. JSI also offers Excess Share Insurance (ESI), which protects deposits above the NCUA limit. ESI coverage is provided by American Deposit Insurance Corporation (ADIC) and has no maximum limit.
Deposits at credit unions insured by JSI are safe and secure, making JSI an excellent choice for those looking for peace of mind when saving for their future.
Are there any drawbacks to Jericho Share Insurance?
There are a few potential drawbacks to Jericho Share Insurance that customers should be aware of. First, the company has a limit on the amount of money that it will insure per account. This means that if you have a large amount of money in your account, only a portion of it will be protected in the event of Jericho Share Insurance’s insolvency.
Second, Jericho Share Insurance only insures accounts held at credit unions that participate in its program. This means that if you have accounts at multiple credit unions, only the ones that participate in the program will be insured.
Finally, Jericho Share Insurance does not cover investment products such as stocks, bonds, and mutual funds. If you have investments through your credit union, they will not be protected in the event of Jericho Share Insurance’s insolvency.
How does Jericho Share Insurance compare to other insurance companies?
Jericho Share Insurance is a full-service insurance company that offers a wide range of insurance products and services. Jericho Share Insurance has been in business for over 50 years and is one of the largest insurance companies in the United States.
Jericho Share Insurance offers a variety of insurance products, including auto insurance, home insurance, life insurance, health insurance, and business insurance. Jericho Share Insurance also offers a variety of discounts and special programs, such as its Good Student Discount program and its Safe Driver Discount program.
Jericho Share Insurance is committed to providing excellent customer service. The company has a team of experienced customer service representatives who are available to answer any questions you may have about your policy or coverage. Jericho Share Insurance also has an extensive network of agents and brokers who can help you find the right policy for your needs.
Jericho Share Insurance is a great option for those looking to get reliable and affordable insurance coverage. Their customization options make it easy to tailor an insurance plan that fits your needs, while their customer reviews are overwhelmingly positive.
And with the added peace of mind of FDIC-backed coverage, you can be sure your investment will be safe and secure. With such solid benefits, Jericho Share Insurance is definitely worth considering for anyone in need of financial protection.