coverage gaps Archives - Recoop Insurance

Insurance Watch-Out Words

The most tedious part of reviewing insurance policies? The fine print. It can be full of loopholes and exemptions that, let’s be honest, we may overlook or not quite understand. Although it’s not the most exciting part of insurance, it’s imperative you dig into it, so you know what your policy covers and leaves out. Terms like “eligibility”, “limits of coverage”, and “exclusions” usually jump off the page when you’re scouring through your plan, but there’s so much more. You need a firm understanding of your policy so you can plan for risks or even identify necessary, additional coverage to protect your home.We put together this helpful list of words you should keep an eye out for when reviewing natural disaster protection within your policy: Sneaky deductibles: Did you know you can be hit with a special deductible when filing a claim depending on where you live? Yep, that’s right. [...]

Americans Are Flirting With Disaster

The truth of the matter is that natural disasters are becoming more and more common. While you may not have been affected by a disaster like a tornado, hurricane, or earthquake yet doesn’t mean you’re immune. In fact, 97% of the U.S. population has been impacted by a federally declared disaster since 2010. To add to the growing concern, about $60 billion in uninsured losses were reported in 2021 alone. It’s clear the perfect storm is brewing for financial strain in the wake of a natural disaster, making the right coverage more important than ever. It’s why we created Recoop. Instead of rolling the dice and hoping Mother Nature leaves you alone, start by diving into what your current homeowner’s policy covers – and leaves out. By searching for terms like “limits of coverage”, “eligibility”, and “exclusions”, you can start to identify where your current plan leaves you hanging and [...]