Extended Coverage Insurance: Are You Insured To The Hilt?

There is another kind of insurance that goes beyond the coverage of your basic policy

, people from the insurance business calls this Extended Coverage. From the word itself, basic insurance policies cover only the basics, it doesn't take into account unnatural occurrences. So if you want additional coverage, you can ask your broker for an Extended Coverage (EC).

Having different kinds of insurance doesn't guarantee full coverage, one should take the time to read the finer points of the policy to see what exactly are covered. What it really comes down to is the fine print, you will be surprised just how closely to the letter insurance companies follow policies, for instance there's a great difference between damages caused by a hurricane and damages caused by flooding due to a hurricane whereas if you're covered for one but not by the other then you might find yourself in very dire straits.

Some of the provisions incorporated are:

Flood insurance, for floods caused by unnatural events such as hurricanes Hailstorm insurance unless otherwise already specified in your basic policy Earthquake insurance, if you live near a fault Extended Title Insurance, if you think there may be some questions regarding the property you bought Extended medical insurance, in case you're confined far longer than what your insurance covers Extended dental insurance for some orthodontic treatments and appliances

There are a lot more not mentioned. There are even policies which start off with just the basic plan and then let you add to it according to your specifications.

And we're not only talking about services here, when you get "Extended Coverage" you can also get bigger financial coverage. Nobody really thinks that they'll get hit by an earthquake but it does happen; usually basic policies only covers your own dwelling and does not include damages done to belongings and accessory structures like a garage, if you're going to need financial assistance for these things then it would be better if you get an Extended Coverage.

There are certain areas in our world that is just prone to certain kinds of disaster, and it would be in your family's best interest if you prepare yourselves for these occurrences. The initial thing you can do would be to read your policy again from top to bottom, determine which ones you might need and which ones would need refining or extending. Set an appointment with your broker, discuss your policy with him in detail, he may be able to offer you some suggestions and recommendations to further tailor your policy to your family's needs.

by: Johnny Carlton

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