Page 14 - Mississippi 811 Magazine 2022 Issue 3

12 • Mississippi 811
2022, Issue 3
IT’S ALL ABOUT THE COVERAGES... or
I Paid For That Liability Insurance. Why Didn’t It Pay My Claim??
By: Virginia Reames
All liability policies are not the same. Absolutely, definitely, positively not. Policies are getting more specific with each year that passes. Price shopping from agent to agent is not in your best interest anymore. Buying an insurance policy just to get the bid is going to blow up in your face if there’s a claim your bargain policy won’t pay for. You really need an agent who has a lot of customers that do pretty much what you do. Asking a friend or two in your line of work —or even a competitor —who their agent is might help you avoid learning the hard way why an excavator’s policy has different language than a car dealer’s policy. It’s
all about the coverages – what is covered and what’s excluded (not covered).
Companies that write a lot of those in the building trades have special items written into their policies that apply to what YOU are doing — not the flower shop or car dealer down the street. You are not paying extra for these coverages like you would if you had a run-of-the- mill policy that you had to endorse (add) these items onto. The premium might be higher going in, but you won’t save anything with the low-priced model.
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