Why “Hope and Assume” may not be enough

Often, people wonder whether an item or situation is covered under their current insurance policy.

“Hmmm, I wonder if my wife’s heirloom engagement ring is covered.”

“Gee, I wonder if my collection is covered.”

Whether it is a collection of antique firearms, a coin collection, or any group of items that holds value for you, you want to know it is covered.

Many people operate on what we call the “Hope and assume” principle; they will idly wonder whether a specific item or items is covered, then immediately move to thinking, “I hope it is covered.” And almost as quickly, their thinking goes to, “I will assume it is covered.” After all, calling your agent to find out whether there IS coverage requires some effort, and if the item is NOT covered, well, then you have to take action.
Staff Writer