Your insurance regardless of the product home, auto, commercial is a contract. Just like your phone has a contract, your insurance is one too. There are no warranties, and insurance is not a warranty of any kind. It is a contract plain and simple, or is it?
An insurance contract is a unilateral, aleatory, adhesion contract, and a contract of indemnity. It's unilateral because only the insurer makes an enforceable promise, it's aleatory due to reliance on an uncertain future event, and it's a contract of adhesion because the policyholder accepts standardized terms take it or leave it. The contract also involves the insurer providing coverage for a specified risk in exchange for a premium and is based on mutual trust and good faith. So, your contract is not only the diminishing deductibles or towing it offers but also protects you from unknown future events and often times that contract finds itself in court proceedings where you must be protected as well. Insurance is layers deep and that's why we are here, to make sure you at least know the basics of what you have and how it works. Now you know the bones of your insurance contract too. #Inspiredliving #brookson #nerdherd
Heather Harris
I’m Heather Gibson Harris, owner of Brookson Insurance, which I started in 2009 after a career as a claims adjuster for personal home and commercial insureds. My career has been my passion for many years, especially my time in catastrophe claim work.