Have you ever been denied a claim and been told, “That isn’t covered on your policy.”? If so, the aggravation and out of pocket money to replace what was lost or damaged is both frustrating and concerning. We expect the insurance company to deliver on the contract we sign and the premium we pay.
There can be a significant breakdown in communication and clarity between the client and the insurance agent. This breakdown happens for a variety of reasons, most notably, lack of proactive policy review.
Common exclusions to be aware of and ask about:
- Flood insurance?
- Does your homeowner policy cover actual cash value or replacement value?
- Suicide coverage on your life insurance policy?
- Represent clearly your occupation and all leisure activities on the life insurance application. Misrepresentation can lead to denial of coverage.
- Earthquake coverage on your home policy?
- Certain items like jewelry, ATV’s, and boats must be ‘endorsed’
- Pest/Termite damage
- Liability for operating a home-based business
- Change of home ownership/occupancy? Your policy must be updated ASAP
- Does your auto policy cover vandalism, glass breakage, fire, theft, and falling objects? (Understand Comprehensive Coverage)
- If you plan to customize your vehicle,(rims, stereo equipment, etc.) you need to have these ‘endorsed’
- Do you have Towing & Labor and Rental Reimbursement?
- Do you have GAP coverage if your vehicle is totaled?
Our team of experts understands how to identify gaps in your coverage. Complete the form below and we will be in touch very soon.