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Personal Insurance

Focus on the Fine Print. What Does My Insurance Policy Actually Cover?

By October 24, 2017 No Comments

Insurance is one of those things in life that are a necessity. It not only protects you, but others as well whether they are in your home, on your property, or in your vehicle. Reading through the fine print of all your insurance policies is extremely important! Why? It’s essential that you are aware of what your policy covers and what it does not in order to avoid any confusion or lapses in coverage. However, sometimes the ins and outs of your insurance contract can seem confusing and hard to understand.  If you have questions on your policy, that’s why we are here! At Synergy Insurance Group, we want to make sure that you know your legal responsibilities and that you have peace of mind in knowing we have your back.

While your insurance policy involves terms that are unfamiliar to those outside the insurance bubble, there are some general tips and questions to think about in order to help make sure you have the coverages you want as well as the coverages you need.

HOME

  1. If I have to take a total loss on my home, am I insured for market value or replacement cost?
  2. What hazards could my home face that are not mentioned in my policy? Do I need an umbrella policy or just an additional endorsement?
  3. If I need to file a claim, how does that process work?
  4. To what extent does my policy protect my personal belongings, not just the structure of my home?

AUTO

  1. Do I have the state minimum requirements just to “get by,” or am I fully covered in case of an accident so that my out of pocket expenses are minimal?
  2. Are there any specific dates or deadlines to file paperwork, claims, or information my insurance company needs?
  3. Yes I have auto insurance, but is windshield coverage and roadside assistance included?
  4. Outside of my semi- annual or annual premium, do I have a deductible? If so, how much will I pay if I need to file a claim?

These are just a few examples of questions to ask and know the answers to when it comes to your individual policies. But we want to encourage you, don’t get bogged down or stressed out about your insurance agreement. Want the answer to your questions? First, check your declarations page. This is normally at the beginning of your policy and contains personal information and facts for drivers on your auto agreement, owners of your home, policy number, policy duration and the types of coverage you purchased including your deductibles. If the information on your declaration page seems incorrect, or if you still experience confusion when trying to fully understand your coverage, give us, or your insurance agent a call, and we will be more than happy to assist you!

Helping our customers in a timely manner with a positive and encouraging demeanor is our pleasure! We want to ensure that you know what is included in your policy, and that you feel at ease with your coverages. Insurance doesn’t have to be hard or confusing. Let us help you work through your questions and the fine print of your policy.  You’ll be knowledgeable about your insurance policy in no time!

 

Photo credit: Mother Nature Network