Fact or Fiction? An Insurance Game!
I thought today that we could have some fun playing a little game of “fact or fiction” in testing your insurance knowledge. Fun is a term that I would use somewhat loosely as fun and insurance are not often found in the same sentence.
So, with that in mind, let’s try to make it a “fun” exercise.
The answers are located at the end of this entry.
- “Home insurance policies cover you against flood.” Fact or fiction?
- “All insurance companies are the same so the only thing that matters is the price?” I thought I’d throw you a softball for the first one. So…fact or fiction?
- “Home insurance policies cover earthquake.” I threw that one in there for the three readers I have on the west coast. Fact or fiction?
- “An insurance policy is like a bank account. Everyone that pays in should get something back out” Fact or fiction?
- “Dog bites are one of the largest causes of home insurance liability claims.” Fact or fiction?
- “A tree falls on your house, but nobody is around to hear it” “It’s covered, right?” Fact or fiction?
- “I was playing with a friend shooting off fireworks in the house and I accidentally burned down the house. It’s covered, right?” Fact or fiction?
- “I was sending a text message about Brad and Angelina’s new baby when I drove into the back end of a pick up truck. I’m sure it’s covered.” Fact or fiction?
- “I just changed to a new insurance company. I should be fine because I made sure my coverage was exactly the same.” Fact or fiction?
- "All independent insurance agents are the same and I can always trust that an agent who works for a big brand name insurance company knows their stuff." Fact or fiction?
Alright, no peaking! If you are finished, here are your answers:
1. Fiction! No two insurance companies are alike and often times, as my grandmother used to say, “You get what you pay for.”
2. Fiction! Even though a policy may be written on a particular company’s paper, the government sells flood insurance. It’s a coverage that is often overlooked, especially if you are not in a flood zone.
3. Fiction. Generally speaking, earthquake is not covered, but many companies will sell it as an “add on” to your homeowner’s policy.
4. Fiction! Insurance is a six month or one year contract. If you don’t need the coverage during that time, the contract expires and a new one is required.
5. Fact! Dog bites are a big liability risk, that’s why many companies are picky about the breed of your dog.
6. Fact! It’s covered.
7. Fact! Unfortunately, there isn’t a “stupidity” clause in the contract.
8. Fact! See number seven.
9. Fiction! See number one.
10. Fiction! Se number one. No 2 insurance agents are the same - and sometimes even these big brand name insurance companies don't properly train the agents that represent their company.
So, how did you do? If you answered all 10 correctly, you may need to get out more often. If you got 6 to 9 correct, you are doing pretty well with your insurance knowledge! If you got 1 to 5 correct, it may be time to call Jason Shroot, your insurance agent at Diversified.
Have a safe day! Please Call for Questions & Quotes @ 714-988-3325
