Insurance is based on the principal of Indemnity. The fundamental of the principal states that after an insured loss the insured shall be put back into the same financial position as the insured used to occupy immediately before the loss. The insured shall neither profit nor be in a worse off position than they were before the loss occurred.
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It pays to be insured! Insurance is a financial contract between the customer and the insurance company. It is an obligation to pay once an insurable event has occurred. The Law defines that an insurer must pay the owner of the contract after a loss once the contract terms are satisfied.
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Would you go to court without your lawyer??? Likewise, it’s not best to enter an insurance contract without a professional Insurance Broker to guide you and be an advocate to assure you the best results.