The ABC’s of Reading an Insurance Policy
a) Ascertain who qualifies as an insured.
b) Annotate the policy form.
c) Confirm all forms and endorsements are attached.
d) Read the Insuring Agreement first.
e) Read the exclusions.
f) Read the exceptions to the exclusions.
g) When the policy refers to another section, read that section immediately.
h) Pay attention to the conjunctions used in a list.
i) Pay attention to key words and phrases.
j) Read and understand the definitions of specifically defined terms.
k) Understand and make sure all the policy conditions have been met.
l) Confirm the coverage limits are adequate for the loss.