Do you read your insurance policy? While we suggest to our customers that they read their policy, fact is most people don’t. When competing for a prospective new customer we answer questions and compare and contrast different policies, however it’s nearly impossible to address every detail of the policy within the short window of opportunity we have with our prospect. An insurance policy is about as entertaining a read as the back of a shampoo bottle, so it’s not surprising that very few people read them. If you’re dead set against reading the policy, we suggest that you at least review the exclusions. Eliminated surprises. It’s far better to have exclusion related questions addressed now than at the time of a loss.
One state has gone so far as to legislate law requiring that an insured is charged with the knowledge of the terms of the policy upon which he/she relies on for protection. – See Atlas Roofing Mfg. Co. vs. Robinson & Julienne, Inc. (Miss. 1973) – Under Mississippi Law, the “knowledge of an insurance policy is imputed to an insured regardless of whether they read the policy” Oaks vs. Sellers (Miss 2007).