Insurance 101

Knowing every aspect of your policy is very important never take an Agent’s word for and hearing them saying that easy sells pitch “it’s covered” when the coverage may be vague, and it may need a little bit more detail and a bit more explaining certain exclusions may apply that may eliminate coverage or certain conditions may apply that may eliminate coverage for example, example:

A gentleman has his boat and trailer in boatlift and was told he could get it all covered under his personal property for his homeowners insurance. However, the condition with the personal property within the policy stated that coverage cannot be afforded unless there was a storm created opening and the personal property had to be enclosed in all four walls. In translation, the gentlemen, personal property boatlift and trailer did not get covered under his homeowners insurance because the hail damage that was experience to the personal property items were outside and not enclosed in a building located on his property.

Well, this personal property be covered? Probably undo another policy if in place, but unfortunately on personal property homeowners, it would be excluded because his contents were outside at the time of the storm!

Know and understand your policy!

Good info!

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The phrase you wanna avoid when considering insurance coverage: “I’m OK”!

Well, you might not be OK because insurance rates and coverage has changed every year! So you owe it to yourself to shop around!

I was just speaking to a lady here recently and her deductible was $1000 the first year her policy open she is paying on her policy for her home through the bank just like most of you guys do and when it was time to come make a claim, her deductible is now over $7000

I can’t share any personal information, but these are real life situations you owe it to yourself to shop around! Speak to someone who cares about you and not a bank that’s looking for coverage on an asset that they are letting you loan!

Talking to someone about asset protection is needed more than you know! I encourage you to review your coverage especially for your home and auto! Rates have increased, make sure your coverage has increased as well!