Have you ever sat down to read over the fine print of your insurance policies? If you’re like most Americans, the answer is probably no. As it turns out, however, this practice could save you money by uncovering some commonly-held myths about insurance.
Image via Flickr/Barry Bulakites
Most homeowner’s insurance products on the market today cover a host of damages stemming from natural disasters, but the Insurance Information Institute reports that flood damage isn’t one of them. Don’t let this information catch you off guard – know whether you should opt for an additional flood insurance policy to protect your home.
Image via Flickr/donita9
There’s all kinds of insurance out there that you may have never heard of, such as athletes loss of value insurance.
In the past, during NFL drafts, several players reportedly collected payouts from insurance policies after they weren’t drafted as early as they had hoped. Policies can range from 6 to 7 figures depending on the player.
Even if you have full coverage car insurance, unfortunately everyone else doesn’t. There are times when people don’t have insurance and in those cases, you want to make sure you’re still covered. This is a clause in many insurance policies that cover bodily injury or property losses caused by a motorist with coverage insufficient to cover total dollar amount of losses.