Unless you are involved directly with the insurance industry, the chances are you always find a policy wording to be very difficult to comprehend. Many people feel it is written difficultly so policy holders can’t work out what’s not covered.

While it may seem this is the case, it’s not; it simply is that an insurance policy wording have to cover every of the cover the policy provides and this leads to long and detailed wordings, and an environmental insurance policy is no different. Again, so many people file away their policy documents. They may take a glance through to make sure it starts and finishes on the correct dates and the premium is correct. They may even just check the main policy schedule, but after that it gets difficult to read.

A professional insurance agent will always deliver the policy in person. After all, he is the middle man and its essential his customer fully understands what has been purchased and that it correctly and comprehensively covers the things he needs to protect. It’s of little value to find out the environmental insurance policy doesn’t cover certain events, when an incident occurs. Ultimately it is the responsibility of the insurance buyer to read and understand the policy to make certain the cover is correct, but one of the reasons you use an insurance agents is to assist you in the process; so make certain you sit down with him and go through everything.

Understanding the policy before you need to make a claim will mean that you have peace of mind. It also means that if a claim does occur, you can be confident that the insurer will pay up quickly and efficiently.

An environmental insurance policy is a complex document. However, there some areas that must be included and understood. When an environmental issue arises the matter must be dealt with at once. There can be no delay while the insurer and policyholder discuss the claim. Therefore it is important to check that your environmental insurance policy states that you, the policyholder, can get the clean up started, without prior authorization from the insurer. Your environmental insurance policy will clearly state the maximum amount it is willing to fund at outset. This needs to be enough to get the clean up started.

The insurer will send an assessor to the incident, where an assessment will be made as to the potential cost, but in the meantime, you know that you have the money to fund the initial clear up. This is even more important for a small company. Small companies do not necessarily have the financial resources that can be involved in an environmental cleanup; indeed in some instances it could result in the company closing.

Check with your insurance agent as to what you, the policyholder, are responsible for. Get your insurance agent to run though any exclusions so you are fully aware. Sometimes you can purchase extra cover so the exclusion can be covered. Things that some environmental insurance policies don’t cover include peripheral items not directly associated with the cleanup. These may include restocking a river with fish. In conclusion, check and understand your policy, before you need to claim on it.

Dave Taylor writes on business issues and recommends Beacon Hill Associates for environmental protection solutions. Click here for detailed information on Contractors Pollution Liability insurance.

Dave Taylor writes on business issues and recommends Beacon Hill Associates (http://www.b-h-a.com) for environmental protection solutions. Visit http://www.b-h-a.com/cpl for detailed information on Contractors Pollution Liability insurance.

Author Bio: Dave Taylor writes on business issues and recommends Beacon Hill Associates for environmental protection solutions. Click here for detailed information on Contractors Pollution Liability insurance.

Category: Business
Keywords: environment, business, finance, law