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The Importance of Reading the Fine Print

Nov 3, 2023

At Insurance Litigation Group (ILG), we have seen firsthand the importance of reading the fine print in contracts. Many homeowners believe that their insurance policy will cover all losses, but this isn’t always the case. Insurance companies often use exclusions and limitations in their policies to restrict coverage and reduce their payouts.

That’s why it’s essential for homeowners to carefully review contracts and understand the key clauses. Here are a few of the most important clauses to look for:

  • Coverage limits: The coverage limits in your policy specify the maximum amount of money the insurance company will pay for a covered loss. It’s important to make sure that your coverage limits are high enough to protect your home and belongings.
  • Deductibles: The deductible is the amount of money you have to pay out of pocket before your insurance company starts paying for a covered loss. Deductibles can range from a few hundred dollars to several thousand dollars.
  • Exclusions: Exclusions are causes of losses that are not covered by your insurance policy. Some common exclusions include damage caused by: intentional acts of an insured, flood, water leakage that occurs for more than 14 days, pests and vermin, and earth movement.
  • Limitations: There are limitations on coverage as well.  Some policies provide coverage for water losses, but cap the coverage to $10,000.00, regardless of the policy limit.  Some policies will cover long-term water damage if it is hidden, but most do not.
  • Duties of the insured: The duties of the insured are the things that you are required to do to maintain your coverage. Some common duties include paying your premiums on time and notifying the insurance company of any changes in your property or risk profile.

If you have any questions about your policy, be sure to contact us at ILG. They can help you understand the key clauses and make sure that you have the coverage you need.

Reading the fine print in your contract may not be the most exciting thing to do, but it’s worth it to make sure you have the coverage you need to protect your home and belongings. If you have any questions about your property insurance policy, or if you want to review your policy with an experienced property insurance attorney, contact us today! We can help you make sure you have the coverage you need to protect your home and belongings.

Our Offices

We are a client-focused law firm that fights aggressively on behalf of residential and commercial policyholders, contractors, restoration and mitigation companies, to produce maximum recovery results from insurance companies through our unique expertise, deep understanding of insurance law, cutting edge technology and proactive approach to litigation.

Insurance Litigation Group serves clients across the state of Florida. With over 7 offices statewide, our attorneys have the knowledge, skills and experience to resolve your dispute against the insurance company. 

North Miami Beach

1500 NE 162nd St
North Miami Beach 33162

786.529.0090

Orlando*

20 North Orange Ave
11th Floor Suite 1100
Orlando, FL 32801

405.564.8555

Pensacola*

225 N Pace Blvd.
Pensacola, FL 32505

850.919.4357

Naples*

5660 Strand St, #315
Naples, FL 34110

239.237.1818

Fort Pierce*

130 S Indian River Dr
Suite 202
Fort Pierce, FL 34950

772.248.4050

By Appointment Only*

Contact Us

Contact us today about your situation so we can fight to get you paid. We can assist you in any coverage dispute, disagreement over liability or damages, or related matter.

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