News & Resources

There is not a trick to understanding an insurance policy. There is, however, a way to go through a policy that will make it easier to understand.

After our last three posts, you may be wondering what could possibly be left, what other information can an insurance policy contain? We have the insuring agreement, the exemptions and exceptions, the dec page … we know that skimming is a bad idea. What else?

Anyone who has tried to put something together — a bookcase, a model airplane, a tool shed — knows the special frustration that comes from bad technical writing. Sometimes, the problem is a sloppy translation from the original language: “Helping is on the Internet website.” (True story.)

A friend of ours took a speed reading course a few years ago. The trick, the instructor said, was to read the article or book or whatever several times, starting with a high-level review and drilling down to almost a word-for-word reading. All she remembers now is that she was supposed to draw a “Z” with her finger as she read.

We often urge people to read their insurance policies. It may not be a laugh a minute; it may not be an edge-of-the-seat thriller. You may even doze off once or twice. But your insurance policy — and it doesn’t matter what kind of insurance we are talking about — contains information that could change the way you run your house, the people you lend your car to, or the insurance company you buy your coverage from.

A recent article illustrates yet another example of the resources available to insurance companies.

We have started the new year off with some information about mid-term cancellations of homeowners insurance policies. It is not exactly an upbeat topic, but it does offer fodder for resolutions. If you are truthful on your application, pay your premiums and follow the insurer’s instructions about repairs, you shouldn’t get the dreaded notice of cancellation.

As odd as it seems, it is possible that an entire generation of Floridians will never have to live through a hurricane. If the 2015 season is as quiet as the last few years have been, we will have a full decade of hurricane-free living under our belts.

If you are among the thousands of Florida homeowners who were “depopulated” from Citizens Property Insurance Corp. last year, you may now be dealing with a different insurer for the first time in years. The coverage may vary slightly, but the basic terms of the contract and your relationship with the insurance company have not changed. State law makes sure of that.