Learning the Language of Insurance
By Diane Tait Image courtesy of wikipedia Insurance is like a pit bull on a leash. You hope to never have to set it loose on an intruder. But if you do, you don’t want it to turn on its owner. If you’ve ever read any of your insurance policies, you can appreciate this fact. While insurance has been protecting individuals and businesses for hundreds of years, understanding the language of insurance isn’t always the easiest of things to do. Add to it the fact that you’ve no doubt read magazine articles written by writers who are only too eager to point out how someone who bought insurance was denied covered for specified damage they assumed was covered. When it comes to insurance policies, the devil is indeed in the details. To make sure you understand what’s what when it comes to your policies, below are some of the terms you could encounter when you peruse your policies.