Don’t Rely On Your Insurance Agent

Every property owner needs insurance coverage that properly reflects the specifics of their particular property or development project. Insurance agents sell that insurance. They often also help the property owner determine what insurance makes sense. Agents typically know what they are doing, so owners typically rely on them.

What happens, though, if the agent gets it wrong? For example, the agent might advise that an owner doesn’t need a particular type of coverage. Later, the owner might suffer a loss and try to make an insurance claim. But the insurance company might deny coverage because the owner should have had the type of coverage that the agent said wasn’t necessary.