Let’s face it, insurance can often be confusing. When your insurance company recommends that you read your policy you rarely do.
You assume that the document will be hard to read. Often times, it is simple to understand.
I highly recommend you read any type of policy you are considering obtaining before you pay the premium.
Then, if you have any questions or concerns you can have them addressed prior to coverage and prior to a claim.
As a customer, you have a right to know exactly what you are covered for and exactly what you are paying for.
One question we often get considers the difference between loss and lost.
Loss is an insurance term defined as unintended unforeseen damage that is measurable in financial terms. A peril is what caused the loss. A peril would be what you are covered for such as accidental damage, theft, fire, flood, natural disaster, vandalism, etc.
A lost item is completely different than a “loss”. A lost item is defined as a loss or damage caused by your inability to locate an item of property. The Worth Ave. Group policy does not offer coverage for “lost” items.
But, we along with all other insurance companies to cover your “loss” of property for all covered perils.