Think You Know Insurance?

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Most of us understand the basics of insurance. But like life, insurance can be complicated. So it pays to know exactly what's covered and what isn't.

Most of us understand the basics of insurance. But like life, insurance can be complicated. So it pays to know exactly what’s covered and what isn’t.

For example, if you’re traveling with your dog and get in an accident, does insurance cover your furry friend? The answer depends on your state and your coverage, but in many cases the answer is yes… up to a limit.

What if your house is destroyed in a terrorist attack? Does homeowners cover you? Answer? Yes, you are covered. However, if it’s considered an act of war, you’re not covered. And if it’s a nuclear or biological attack? Also normally not covered.

Does your homeowners insurance cover your kid’s stuff in their dorm? Answer? If they’re a full time student, probably. But only in the dorm. If it’s an off-campus apartment, normally no.

And finally, one of your friends trips on your porch, get’s injured and sues. Is your lawyer covered? The answer to that one is yes… your homeowners will pay your legal bills, up to the limits of your coverage.

If you missed some of the questions on the quiz, don’t feel bad: they weren’t easy. But do take out your policy now and then and understand what you’re paying for. After all, it’s your money.

Stacy Johnson

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