The most frequent questions asked by clients when they initially consult with my offices is, “Does my policy cover this loss? or Does my policy provide for__?” The answer almost exclusively is, “let’s look at your policy.” It’s usually at this point that an insured may tell me that the insured has never read the policy, or attempted to read the policy after its initial receipt but gave up because it was so confusing. Although I have been reading and deciphering policies for quite a while, I cannot disagree with any insured when they tell me the language of the policy is muddled or nonsensical. However, despite being a poor read, looking at the policy is absolutely necessary to see if a loss is covered.
In California, as with other states, there are many exclusions added onto a general homeowner’s policy, and losses caused by floods, earthquakes, termites, insects, rats or mice, water seepage, mold, wear and tear, etc., may not be covered unless additional coverage is purchased by the insured.
Generally, homeowner’s policies should all read about the same. It is my intention to provide a roadmap for insureds on how to read their policy and what sections to look for to see if specifics are covered. In most
A decent finish to 2011. Our net worth grew $52,769.10 this year. It wasnt as good as we did in 2010, but it was just the brutal August and September months that set us back. Im happy with what we accomplished in 2011, and well reach for even more in 2012.
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