Most people have some type of insurance coverage – homeowners, health, auto, life, etc. However, most people are not able to fully interpret the language in an insurance policy and therefore don’t always have a full understanding of whether they are adequately covered or not. This is especially true when it comes to homeowners policies or commercial property coverage. As a result, lots of folks may find themselves thinking they had coverage that they don’t or may even find themselves to be underinsured and didn’t realize this until it’s too late. Do you understand what your insurance policy actually says?
The purpose of insurance is to reduce your exposure to the effects of particular risks. Insurance serves as a means to indemnify you after a loss and put your property back together to it’s pre-occurrence condition without costing you anything out-of-pocket other than any applicable deductible. Not having insurance at all is taking a huge gamble and hoping that things work out for the best. Continue reading “Understanding What Your Insurance Policy Says” →