Insurance Policies - Are You Covered? Really Covered?

For many people buying insurance is a no-brainer. What I mean is most people tend to think in a limited sense of what they really need insurance. 98% of people who buy insurance purchase regardless of the policies recommended by the agent or vendor policies.

and a good 90% of these people have no idea if this is really the coverage they need. We like buying an insurance become complacent about how we buy insurance. Only when a disaster and that insurance is necessary, do most of us, we learned defective in obtaining appropriate policies to cover our needs adequately.

Here's the deal, insurance companies are in the business of making money, not giving away. They gamble that when you buy insurance, they will raise premiums for a very long time and never ever have to pay a dime in the claims, it is a dream scenario for at least the insurance company. In the real world, not a disaster strikes, and accidents do happen, and your insurance company knows that well. I just like the big Las Vegas casinos they manipulate the rules of the game so the odds in their favor. If you think this is not true, you should carefully read the fine print exclusions on any number of insurance policies that you can now wear.

Businesses do not make it easy for you to understand what the meaning given policy are, by design. They note the key points early in the policy, then the language of politics is becoming a very legalistic in its grammar. Outlining many of the situations and circumstances in which he met, your policy will not cover your liability.

For example, some car insurance policies will cover your car for a hit and run damage, provided that the damage inflicted by the public access areas such as city streets and parking lots. But they will not cover such damage if it occurred in a private parking lot or garage.

Here's one I ran into a not so long ago. homeowner ran a small Internet business from his home, selling nick-knacks from the office was set up in his basement. computer was purchased for customer interaction, caught fire and caused moderate damage to houses. When the insurance company found out she was running a small business (according to their terms commercial enterprises) from her home, they refused to pay any and all claims relating to damage caused by a computer that is in the tens of thousands of dollars.

Here is the real kicker to this story. Six months before the damage, the woman and her husband went to see a local insurance agent, to increase their coverage, so that the office furniture and computer equipment purchased would be covered. They even had to put a rider on a separate policy to cover the computer and laser printer it will be used in their operations. All information in the open, not hidden, the agent was fully aware of the purpose was to ensure the equipment and where it will be used. However, the insurance company was justified in refusing to pay the claim because the commercial use of exclusion clause in the original policy, which has precedent over any rider who has not explicitly provide property for commercial use.

So you see that it is very important for you to know what is and is not covered in the policy purchase. Unfortunately, most times we never get to see the actual politics only after you have bought it, often for several weeks after, when we get the actual policy in the mail from the company. Unfortunately, few of us ever actually take the time to read fully the rules and get me. In general, because the language used too complicated to understand, so we rely on the confidence we have in the agent or company that sold us the policy.

is something that might help and is perfectly legal to have an agent to agree and sign as part of the policy statement of understanding politics. That is, you as the buyer of the policy describes what you think is covered by the policy as stated to you the agent. Add a statement of understanding is not in any way limit or add exclusion agreed policy. What it does is target specific areas of coverage that supposedly defined in the policy. A statement by the agent and / or the insurance company agrees with you that these specific items covered in the policy issued.

Ok, let's say to say that the agent will be running small internet based business from your home. Put it on paper. You tell him your kids have a trampoline in the backyard (trampolines are a big problem, make no mistake), and you believe that what they are told that these risks are covered by the insurance policy you purchase. Include all items and all you can think of that might be just right in your insurance needs, and add them to the list.

Include a statement that your agent recognizes these cases and the coverage area, and then have him sign and date, and you do the same. It was attached to the policy, make a copy for your records. If the agent tells you that there is no need for the declaration, it's all covered, be careful. If all you provide is covered, may not be the reason that an agent would refuse to sign it. If the parent company feels the items you listed were not included in the policy design or off they'll make a note of it and add the drivers (adding costs, as well) that your policy or simply deny the policy when it reviewed. However, they are still legally bound to cover as an official notice received by one way or another about their coverage. In any case, you know where you stand.

Insurance companies do not like these kinds of tactics, but if more of us did things like that, it will become increasingly difficult for companies to hide off to free them from having to pay a claim.

It is difficult to cover every risk that they will face in life, but with a little common sense we can learn to spot those things in our own lives that might require some special attention to security.