Tag: Insurance policy exclusions


Exclusions are Written into Policies to Protect the Insurer—Know What They Are!

As a policyholder, it is critical to understand exactly what you are paying for, and what is covered in the case of an accident or event that requires you to file a claim. Although the process sounds simple enough if, for example, you are going to buy a new home: one of the initial steps is to begin researching insurance and then purchase a policy. In order to protect your assets, the process may be anything but easy though. Unless you have purchased many homes before or dealt with other insurance policies, you may have quite an education ahead of you as you attempt to protect your assets—and especially as over the years insurance companies have become even more savvy about protecting themselves.

Beginning with finding the proper insurance agent to work with, you may embark on a new business relationship with someone who will be assisting you for the rest of your life. You may have discovered your insurance agent through word-of-mouth, advertising, or other professional avenues—but don’t be afraid to conduct ‘interviews’ to make sure you have the right fit, especially if your insurance needs are more complex and will probably continue to be so throughout the years.

In other cases, gaining insurance may be as easy as making a phone call and discussing your requirements over the phone. You may not ever even meet the person helping you attain insurance, but the important note is to make sure that you are being provided with exactly what you need. The worst mistake you can make is to go forward with an agent who does not know what they are talking about, or one who lacks serious experience. Most likely, you are protecting assets that you worked very hard for—and chances are you do not want to put them in unskilled hands.

The insurance policy is a legal document, and obviously it is not particularly exciting to read; however, you must understand details like exclusions, and how they could affect you later. A good example of an exclusion on a homeowner’s insurance policy would be earthquake coverage. For something like this, it is important to know what types of disasters your home is not covered for and whether you may need to buy additional coverage, or an additional policy. Storm coverage is another area where there may be different exclusions for wind or flood.

Understanding your insurance policy and the exclusions that may be held within is about more than simply educating yourself and being forced to read a long and perhaps boring document, but it is also about the difference between being fully covered or having to pay an enormous out-of-pocket expense.

If you suspect your insurance company may be denying your claim in bad faith, contact the attorneys at the Bolender Law Firm. If a dispute over a claim cannot be easily resolved through a call or written communication, our attorneys will advocate on behalf of policyholders through litigation, arbitration, or non-binding mediation. Our attorneys are experienced in representing clients in state and federal courts, at both the trial and appellate level. Call us at 310-320-0725 now or submit an easy consultation request online. We are here to help!