One of the first things any lawyer will tell you is to know what you’re signing before you sign it. You should understand what you are getting yourself into before it’s too late.
You’d never accept a job if you didn’t know the benefits being offered to you. You’d never purchase a used car without being able to inspect it and take it for a test drive.
Why is it that insurance companies expect you to jump blindly into an insurance contract without letting you review it?
This is an unfortunate yet very real situation that we face. If you’ve ever tried to purchase a homeowners insurance policy, I’m sure you’ve experienced this frustration firsthand.
It’s only natural to want to know what you’re getting yourself into, especially when you’re dealing with a piece of paper and a long-term investment that could mean the future of your property and possessions.
There are so many options available when it comes to finding the right homeowners insurance policy for you. Once you’ve found a company that you feel comfortable with and initiate the application process, they will push for you to sign the policy.
However, if you request a copy of the policy to review before signing, they will refuse. You will either be told that they can’t send you the policy until AFTER you sign up, or that the policy doesn’t actually get written until you have already signed the agreement.
In what world does that make sense? Not only is it ridiculous, it is also completely false.
Insurance companies use people called “underwriters,” who put together your policy of insurance. When they write your policy, they look into several key facts, like how your home is constructed, your proximity to a fire hydrant, whether you have a trampoline in your backyard, etc.
Yes, these questions are important when it comes to your rate of insurance, but none of these issues change the basic form policy that you are asking for. In other words, if you were to get homeowners insurance through a company like State Farm or Allstate, they would provide you with the same basic language as they would any other person they insure.
How are you supposed to know what you’re protected against if you’re not allowed to learn about it first?
Wheeler, DiUlio, & Barnabei have helped several clients who have faced losses and filed for coverage from their insurer, only to find that the policy they signed does not cover those damages. If you’ve found yourself in this very situation, let us know. We have years of experience protecting homeowners just like you from insurance companies who only want to take advantage of you by keeping you in the dark.