Imagine that after dutifully paying your auto or homeowners insurance premium for years you finally try to make a claim, only to get a nightmare answer: Your insurer won’t pay for all the damages or, even worse, won’t cover you at all.
It’s a situation that happens more often than you may think. “People usually discover this shortage only when they’re filing a claim,” says Mary Parsons, executive vice president of personal risk services at Chubb. “By then, it’s too late.”
