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It is written

Posted by administrator on Monday, July 1st, 2013

It is written

In the movie, Lawrence of Arabia many of the lines started by stating, “it is written.” This statement implied that we have no control because somewhere, someone in authority wrote it down.

In dealing with insurance companies, you may feel like falling off your camel when an adjustor says, “it is written.” Most of us do not take the time to try and understand our insurance contracts. The insurance contract for auto and home insurance is a bilateral contract of agreeing parties, you the “insured” and the “insurer”.

Often you are at disadvantage because what is written is not entirely understandable. Here’s an example. The word is “comprehensive” coverage. This word sounds like it works to cover in all areas, but it does have limitations.

When preparing for the state insurance exam, I always confused the term, comprehensive with collision. I grew up on a farm, so I reached back in my memories to recall what a mother hen does to protect her eggs or chicks. As a kid, I had many a “setting hen” chase me around the barnyard to protect her nest. I noticed that in the word, comprehensive was a “hen”. If she were an insurance term what would she protect? Here’s a partial list. You will notice that most of the coverage is for the automobile while parked. I envisioned a big mother hen sitting on the automobile.

The list includes:

  • Hail
  • Flood
  • Earthquake
  • Fire
  • Vandalism
  • Theft
  • Falling objects
  • Hitting a deer, camel, animal
  • Other non-collision losses

I hope this helps to understand what “is written” in your insurance contract.


This article was provided by Rick Olson, an Idaho Insurance Agent with Allstate Insurance in Chubbuck – Pocatello Idaho. He can be reached at…….. RickOlson@Allstate.com


Comments

  • Thanks a lot for sharing this with all folks you really recognise what you are talking about! In this complex environment business need to present there company data in meaningful way.So user easily understand it .Sqiar (http://www.sqiar.com/) which is in UK,provide services like Tableau and Data Warehousing etc .In these services sqiar experts convert company data into meaningful way.
    by Sqiar on 06 February 2014 at 12:40 a.m.