So many people suffer a major loss and then discover their insurance policy does not cover the situation. Anyone who owns property, a business, a vehicle, boat, or any other asset needs to understand the policy or policies that are in place to protect them. Go get the copies of any current policies and review them now.
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of coverage based on the value of the asset, or the replacement cost? Are there any exclusionary clauses that are a surprise? Is that asset covered wherever it is, or only while at the business premises? The answers to these questions make a significant difference in whether the asset is fully protect or not.
A lack of enough Commercial insurance Lakeland can compromise the continued existence of the business. Liability amounts that are inadequate, for example, can cause bankruptcy with one claim. If an inland transit policy is not among the total insurance coverage, any property that is delivered to customers in company owned vehicles will be a complete loss if it is damaged or stolen. Business owners will want to review the extent of coverage with an independent insurance agent.
Losses not covered by personal insurance Lakeland can leave individuals in dire straights. An ideal example is those who do not have renters insurance. In the event of a fire, theft, or damage, the insurance policy carried by the landlord will not cover the belongings of the person renting the unit.
Consider that for a moment. People who are thinking they really do not have anything of value may want to re-evaluate that assessment. It may be prudent to ask themselves if they could replace their entire wardrobe on the money that is in their wallets at this very minute. Renters insurance is cost-effective and well worth every penny spent.
Situations Basic Homeowner Policies Exclude
There are many items and situations that are not covered in basic policies for homeowners insurance Lakeland. Most insurance policies, for example, do not cover trampolines on the property. If a neighborhood kid twists an ankle on that thing, medical expenses will have to come out of the pocket of the homeowner. If parents decide to file a lawsuit, people may have to sell the home to pay the judgment amount.
Flooding is also not included in general policies for home insurance Lakeland. Unless flood insurance is purchased, there will be no coverage for damages. The time to learn that is not when the basement has four feet of water in it. Consult an independent insurance agent to review existing policies and explore the possibility of added some to properly protect the property.