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Old 20th December 2012
Lives for gear
Originally Posted by ddageek View Post
Your conceptis good the problem is

2 way to many people are under insured, lack proper riders and documentation
This is the real issue. Virtually nobody actually reads their policy and they want to spend the least amount they can. The old adage you get what you pay for most certainly applies in regards to insurance. I have been in the insurance field for 20 years and an adjuster for 14, the last 9 years with an independent adjusting firm handling losses for about 250 different carriers. Out of thousands of losses handled I can count on one hand the times carriers purposefully avoided paying a legitimate claim.

I spent some time out on Long Island handling Sandy claims. It is amazing how many people did not have any sort of flood coverage despite living right on the coast. Very sad but there is nothing you can do as an adjuster, the coverage rules were all set prior to the storm and insurance fraud is a felony.

Best thing to do is be aware of what you have coverage for and don't leave anything exposed that you are not willing to pay for yourself in the event something happens to you. The great majority of insurance companies are not inherently evil, they want to pay for legitimate damages but it is has to be according to the policy coverage parameters.