Taking a break from my normally not-so-serious posts, I thought it might help helpful to talk about some of the situations I've been running into at work. Hopefully, something like this can help someone out there avoid a rough situation!
Not long ago I had a client of mine make a claim on their home insurance. Unfortunately, they did not do a lot of research when they put the policy in place. I do my best to cover all of the bases when I start a new policy with a client of mine, but it's impossible to cover every single scenario. They sped through the process a bit, and never really read their policy, and unfortunately, it came back to bite them.
During this claim, they ran into a limit on their jewelry coverage. Our company has a pretty high amount of coverage, but pretty much every company out there has some sort of limit unless you modify your policy. They did not take the time to go into this initially... and then when it came time for a claim, they were stuck without coverage for several items.
I, for one, don't want to see ANY clients of mine go through this! Please, take the time to discuss the details on your policy with your advisor! Read your policies, and if you have questions, ask them BEFORE something goes wrong!
Heck, if you'd like, you can even ask me!
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