Many people find it difficult to fully understand the scope of coverages without considering a specific loss. Then, determine if you think the policies will cover these expected losses. Your insurance advisor can assist you in the review process. Here are the steps. Review the policy for accuracy.
Insurance companies are notorious for issuing policies incorrectly.
The policy may contain spelling errors, the wrong Named Insured, incorrect additional insureds, the wrong forms or not include a purchased coverage. Refer any errors to your insurance agent or broker immediately. If you do not address an error, it can become a problem if a loss related to the error occurs. Review the rating classifications and other schedules. Check to see what rating classifications the company assigned to your organization.