Deciphering your insurance policy 

In partnership with ACTA, BrokerLink Insurance is proud to offer exclusive rates on business insurance, personal home and auto insurance, individual health and dental plans, and employee benefit plans through the ACTAProtect insurance program.   

Reviewing and understanding an insurance contract is very important. As an insured, you should have a clear grasp on how your insurance policies work and what they contain.  

Whether you’re buying personal or business insurance, there are a few key reasons why understanding your policy is necessary. 

In addition, your insurance policy will list the maximum time frame you have to file a claim following an incident. If you fail to read your policy, you won’t be aware of these vital dates and timelines, which could cause problems down the road. 

• Your deductible. Your deductible is the amount you’ll need to pay if you make a claim. You can increase the deductible amount to help reduce your premium. WARNING: Carefully consider this option and make sure you can afford to pay your deductible amount out-of-pocket if you need to make an insurance claim. Be sure to speak with your advisor to discuss the various deductible options available and the impact they’ll have on your premium. 

• The definitions section. Your insurance policy includes a definitions section to help you understand insurance better. As the name suggests, this portion of your policy will provide clear explanations and definitions for some of the complex industry jargon you’ll find throughout the contract. Thus, reading through this section will help you understand the rest of your policy and what you are, and are not, covered for. 

Do you have questions about your policy? Or are you looking for a specific kind of coverage, and it doesn’t appear on your policy? We’ll help explain your policy step by step, make sure you understand all details and ensure you have the coverage you need. 

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