Insurance claims - the "betterment" issue

[weilke]

I will wager you 100$ that less than 90% of them will know, with any accuracy what their policy says. The documents are simply beyond the average person's capability. Then there is the issue of agents or brokers giving incorrect interpretations of the policies. If they can't read them, no way will the public be able to.

I would say a good broker understands those policies pretty well, at least he should. As he is a representative of the company, information the broker gives you in writing may end up binding on the company, so before he tells you 'don't worry about betterment' he should look at the policy or check with his underwriter to give you well founded information.

 

[Henning]

Lawyers writing documents to be read by John Q is a rigged game.

Insurance policies are worded by Insurance Commissions. There are representatives from industry as well as consumer organizations on those commissions. I have read hundreds of policies over the years. They are all clearly indexed and worded in clear language when it comes to the terms of the policy.

 

[Henning]

I would say a good broker understands those policies pretty well, at least he should. As he is a representative of the company, information the broker gives you in writing may end up binding on the company, so before he tells you 'don't worry about betterment' he should look at the policy or check with his underwriter to give you well founded information.

No sir. An Insurance Salesman is a representative of the company. An Insurance Broker is your representative to the insurance industry.

 

[Let'sgoflying!]

Talked to my broker today, she says the term is not in my policy nor in the definitions. They work it into the contract using other words.
I tried to read it but after 5 minutes my eyes start to spin in their sockets and I have to shake my head to regain full consciousness.

 

[Gerhardt]

Insurance policies are worded by Insurance Commissions. There are representatives from industry as well as consumer organizations on those commissions. I have read hundreds of policies over the years. They are all clearly indexed and worded in clear language when it comes to the terms of the policy.

They're typically written by the insurer, but approved by the insurance departments, often after undergoing suggested editing by the ins. dept.

 

[steingar]

They are all clearly indexed and worded in clear language when it comes to the terms of the policy.

So is every legal document ever written. Like I said, a rigged game for a neophyte really trying to read the things.

 

[Henning]

So is every legal document ever written. Like I said, a rigged game for a neophyte really trying to read the things.

Only if the neophyte happens to be illiterate. The problem is not in the policy, the problem is in the ability of the reader. They are not written in complex language. The problem is, most people never read their policy at all. Most of them aren't very long, typically a pamphlet has the entire policy printed on it.

 

[steingar]

Only if the neophyte happens to be illiterate. The problem is not in the policy, the problem is in the ability of the reader. They are not written in complex language. The problem is, most people never read their policy at all. Most of them aren't very long, typically a pamphlet has the entire policy printed on it.

Henning, you can't possibly be this obtuse. I don't believe it. How would you know? You've worked in the insurance industry. I would imagine you've lived and breathed this stuff. so you have the arrogance to say that someone without your experience is a dumbass because they might have some trouble reading and fully comprehending such voluminous documents in their entirety?

Put another way, using your logic I should call you an utter idiot because you can't read the scientific papers that are my bread and butter. Hey, they're written in English as well.

 

[Henning]

Henning, you can't possibly be this obtuse. I don't believe it. How would you know? You've worked in the insurance industry. I would imagine you've lived and breathed this stuff. so you have the arrogance to say that someone without your experience is a dumbass because they might have some trouble reading and fully comprehending such voluminous documents in their entirety?

Put another way, using your logic I should call you an utter idiot because you can't read the scientific papers that are my bread and butter. Hey, they're written in English as well.

Thing is an Insurance policy is not written in scientific language. They were mandated more than a few years ago to be written in "Plain English". Every time I show up on a storm I have to read the policies that I'm working. It was the same Day 1 as it is now. The policies are plain English and indexed well. There is not one word in an insurance policy that hasn't been covered by the 10th grade.

Your entire Homeowners policy is covered in a 12 page pamphlet, if that's intolerably "voluminous" to you, then I guess we differ on our definition of "literate".

 

[steingar]

Thing is an Insurance policy is not written in scientific language. They were mandated more than a few years ago to be written in "Plain English". Every time I show up on a storm I have to read the policies that I'm working. It was the same Day 1 as it is now. The policies are plain English and indexed well. There is not one word in an insurance policy that hasn't been covered by the 10th grade.

Your entire Homeowners policy is covered in a 12 page pamphlet, if that's intolerably "voluminous" to you, then I guess we differ on our definition of "literate".

Research articles in Nature are only 3 or four pages in length, written in plain English. Try and read one some time. Then tell me about it.