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Insurance RestrictionsIn the past few years, one-time Disney star Lindsay Lohan has had a lot of trouble driving without incident. As such, she’s become pretty high risk in the eyes of the insurance companies. On her most recent movie set, the insurance company temporarily insuring her for the movie stipulated that in order to be covered, she must not drive during the months and weeks that she was working on the film. Unfortunately, she did not comply with this rule and—after getting behind the wheel of a rented Porsche—had yet another incident.

Luckily for Lohan and the movie company, the insurer did not cancel her policy, but because she was out of compliance with the stipulations and conditions of the policy, they certainly could have. It’s never a good idea for you to push the boundaries of your insurance coverage and test the limits of the insurance company’s patience. Instead, it’s best to have a full understanding of the stipulations and conditions in your policy, which can include things like:

  • A liability insurance policy might require a certain course of action in specific situations.
  • A home insurance policy may state that it is for a primary residence only, meaning that you can’t use it for a property that you rent out.
  • An auto policy might stipulate that it’s for personal use—which makes using it for commercial purposes completely uncovered.
  • All insurance policies can stipulate that the insured is not to hide any details of the claims from the insurer or otherwise commit fraud.
  • A health policy could stipulate that a pre-existing health condition is not covered.
  • An auto insurance policy may stipulate that unlicensed drivers are not covered.

The key to understanding the conditions and stipulations of your Colorado insurance policy is to actually read them. If you want to discuss how your policies work and any specific conditions that you’re concerned about, give us a call at Premier Group Insurance today.

Posted 11:24 AM  View Comments

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