Most insurance policies provide coverage for claims arising from a loss that occured during a policy period.    When I say most insurance policies, I mean to say all that I can think of with the exception of health insurance.

For example.   If you are in a car accident, but your policy lapses 2 days later.  That accident is covered.  They are responsible to pay for the damages, medical bills, etc..  (all within your limits of course!)…. but it doesn’t matter that you no longer have insurance with them.  You paid for coverage during that period of time.

Liability insurance?… you betcha 🙂  They are responsible to for any claims stemming from incidents that occurred during your policy effective dates.  If I have liability insurance for two years, and then I switch companies.   If a claim comes up for something that happened during the time I had insurance with the first company  (lets say someone waits a few years to sue me..) then the company I had coverage with at that time is responsible. Continue reading Here’s something we can fix about Health Insurance →