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Kudos to Mr. Denn. Perhaps this could be taken nationwide. It is not only Deleware, but all companies practice this in all states. I like the fact he points out “what the policy is intended for”. Hope you get what you go after Mr. Denn.
Does Denn think the Insureds will do anything about the gaps except complain when they don’t get something for nothing. The Phrg does not defend all carriers, but heaven help us all when the Beaucrats start running the business. I’m here from Dept of Insurance to help you.
Great…now when Martha’s kitchen mitts catch on fire she’s going to be calling to put in a claim.
Every time I turn around I see another proposed rule or regulation requiring additional disclosure to the insured about what is and isn’t covered. Here’s a crazy idea for all of those out there with insurance…READ YOUR POLICY!!! It’s absolutely amazing what you’ll find in there…descriptions of your coverage, what to do if there is a loss, your rights under the policy. A wealth of information!
Here’s another one. Heard of a declarations page? It tells you HOW MUCH coverage you have. Take a look around and see if you think you can rebuild for that much. Could you replace your personal property with that much?
It’s not up to the insurance company to hold the hand of the consumer. These ADULTS should be familiar enough with their property to insure it properly. Insurance is there to help you in the case of financial loss, not provide free social services including home valuation (which is an added cost to the transaction, but don’t get me started on how many of these people are complaining about how much they have to pay!!!)…
Give me a break.
I agree with fedup. Insured’s never read their policies but are always calling because the premium is too high. You would think that after the contracts on home & auto were revised to be easily read by a lay person that the insured would put some effort into trying to understand what they just purchased, but that is not the case. Thank goodness because it keeps me busy & guarantees job security for me.