How to read your insurance policy?

Knowing the conditions of your insurance policy will help you avoid unpleasant surprises to ensure your safety.

It is important to read and understand certain parts of your policy from the beginning, to know how to act in case of disaster or accident and need to make a claim. Details to consider whether if it is a health policy, business, car or house will generally are very similar.

Read and understand your policy gives you the elements to work and negotiate with the adjuster, and especially avoid the trap of interpretations of coverage. It is very important to understand that the costs of a policy are not the only details to consider, and you should consider other terms as well.

Whether it is economic or market the most expensive general conditions stipulated should come well from the beginning and you must know the insurance.

Know your insurance policy with these simple tips:

  • Read carefully the terms and conditions.
  • The page summarizes your policy statements, lists vital information including costs, the names of the insured, the effective dates of your product, amount of coverage, health conditions, deductibles and approvals. Call your agent if any information is inaccurate. Pay close attention to specify who the insured.
  • The insured both affordable insurance and more expensive insurance depends on the insurance policy and the type of damage there. In an auto insurance policy, the definition of “insured” depends on the type of coverage. If you are married, you should put the name of both spouses in the policy. It is important to clearly write down the names of all policyholders.
  • Carefully read your insurance contract.
  • Auto insurance policies have separate insurance contracts for the four coverages: civil liability, health payments, uninsured and under insured driver, and car damage.
  • Know your policy exclusions.
  • Today there is a type of policy that covers almost all types of securities, except as specifically named in the list of exclusions.
  • Find exceptions to the exclusion.
  • Insurers can use the use of exceptions to the exclusions to cover so they can control how much coverage is given for a particular loss. It is easier to exclude completely lost and then give some protection, to try to exclude anything that the insurance does not provide coverage.
  • Always check the aforementioned sections.
  • When a policy refers to another section, check this section referred immediately.
  • Pay close attention to conjunctions.
  • If an insurance policy makes a list of requirements and uses “and ” then all that is listed must be met to apply the coverage or exclusion. But if used “or” only one of the requirements must be met. Or, the use of the word “however” can even mean you can forget all that has been said immediately before, so be sure to check this when you read your policy.
  • Understand the definitions.
  • Insurers broadly define some words. E.g. “flood” could be understood after a pipe breaks in your business, but that does not refer to the definition of the insurer.
  • Verifies compliance with conditions.
  • If you do not act according to the conditions of the policy, you cannot make valid claims in case of accident.

Finally, remember that it is best to ask your agent if you do not understand something.

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