Homeowners Insurance Policy Fine Print

Truth be told, almost no one reads their insurance policies. This incredible fact is true among lawyers as among the population in general. 

We call our insurance agent and ask for a homeowner's insurance policy and ask for a "full coverage." We therefore rely upon the insurance sales agent to provide the appropriate policy. Beyond that, most of us take absolutely no precautions to be sure that we have the appropriate insurance to cover our losses, and that the limits of the policies are sufficient to fully recover the loss if it occurs. 

Certainly, there is a lot of legal and insurance company gobbledygook in the insurance policy. However, if you take the time to sit down with a magnifying glass and read the policy carefully, the task of understanding the insurance policy is not as daunting as it seems at first blush.

1. As you go through your policy, write down the terms that you do not understand. Then call your insurance agent and have them explain it to you. The terms of a homeowner's policy are second nature to most insurance sales agents.
2. When you ask them to explain your policy, many will throw out glib terms and expect you to understand what they are talking about. Do not allow them to do this. Make them explain the terms of the policy to you. 
3. You should explain thoroughly to your insurance agent exactly the kind of insurance you want, what you seek to accomplish by purchasing the insurance and ask your insurance agent to carefully explain your policy to you and ask him or her to make a conscious independent evaluation of whether that policy will serve your needs. 
4. Don't allow your insurance agent to shirk this responsibility. Part of your insurance agent's job is to help you determine whether your insurance coverage is adequate. 

Most people do not read their policy until a fire or some other hazard has occurred. Please do not make that mistake. If you have a problem with an insurance claim and you believe the company is acting in insurance bad faith, an insurance dispute attorney in Raleigh, Fayetteville or Dunn with Brent Adams & Associates can help. Our insurance bad faith lawyers know the laws that protect your rights and they have years of experience understanding how insurance companies operate and try to avoid their claim payouts.