Insurance Policy Tips

Don’t let your insurance policy be a puzzle!  Integrity Insurance offers 5 tips to quickly understand the pieces of your insurance policy.  Start with the Declarations Page:  The declarations page serves as a road map for your policy.  It includes a list of form numbers that apply to your policy, what is insured, for how much and for how long.  It may also include additions or endorsements to the policy beyond the basic coverage that you pay extra for.  Assemble your Policy:  Match the form numbers from the declarations page to what was included in your policy.  You should also look for edition dates of the policy forms shown on the declarations page and compare them to the edition dates of the forms in your policy.  It is important to be sure you have a complete policy and to contact us or your carrier if you do not.  Identify your Coverage:  Turn to the section in your policy that you want to review, such as homeowner’s property protection.  Refer to the insuring agreement section to see your broad coverage.  Turn back to your declarations page to verify if that coverage applies to your specific policy, what your limit and premium is, and if you have a deductible.  Once you have determined that this coverage applies to you, refer back to your policy and read the exclusions page for that section to get an understanding of what is not included.  For example, maybe you are concerned your basement might flood during a rainy season.  The insurance agreement will tell you what is covered in your house, but the exclusions section might tell you that floods are not covered in your house.  If flooding is truly a concern this would be a red flag to contact us to talk about having proper coverage in place to fully protect your home.  Refer to the Definitions Section:  Insurance policies can be loaded with legal language.  Every policy should include a Definitions Section to provide an explanation of certain language.  Call your Agent:  Even after these steps, your insurance policy may still be overwhelming; if so please call us with any questions or concerns.  We can help explain what is in your policy and more importantly, help make sure that you are appropriately protected for the future.