Purpose and Function of a Deductible in an insurance policy ?? ( P&C perspective)

[LostDollar]

I am concerned you dont have enough business liability coverage or that you are carrying too much of a deductible on the Authors Professional Liability policy......LOL

What a strange world you all are in.

Mark's comment about a textbook reminded me, when I bought the old ExamFx exam prep books on eBay, I got a P&C book as well as the Life and Health book. I looked up the definition of deductible there and it was about the same as in the Health book and not helpful for what I want. I riffled the pages trying to find text about deductible, and couldn't.

However:

Sinkhole coverage.
(Hmmm. Do FL agents write a lot of sinkhole addons? (remembering an article about a guy's house that fell into a sinkhole overnight while he was inside-what a horrible horrible way to go))

Volcanic eruptions
(I think it was - eruptions in a 72 hour period are counted as 1 eruption. Good to know. Can I use that in KS or is that just HI?)

In Marine coverage:
What is a personal floater?
( I have no idea, but since the word marine is involved, they are probably not talking about the black spots in my eyes.)

 

[goillini52]

What is a personal floater?

When you flush, that's what stays behind.

 

[Allen Trent]

When you flush, that's what stays behind.

I thought a dingleberry is what is left behind, but what does that have to do with insurance. or, are you saying the part left behind is the deductible the person retains & the rest is flushed to the carrier

 

[goillini52]

I thought a dingleberry is what is left behind, but what does that have to do with insurance. or, are you saying the part left behind is the deductible the person retains & the rest is flushed to the carrier

A floater is left behind in the toilet. A dingleberry is left behind on your stink hole.

 

[Allen Trent]

A floater is left behind in the toilet. A dingleberry is left behind on your stink hole.

So stink hole coverage is available in Florida? What is the deductible?

 

[LostDollar]

I am concerned you dont have enough business liability coverage or that you are carrying too much of a deductible on the Authors Professional Liability policy......LOL

You're telling me that stating "Any resemblance to actual Insurance Agents, Living or Dead, is purely co-incidental" is not going to cover me?

 

[goillini52]

So stink hole coverage is available in Florida? What is the deductible?

5 pounds and a clean slate.

 

[fed up]

A deductible helps to define the difference between an inconvenience and a disaster.

 

[LostDollar]

A deductible helps to define the difference between an inconvenience and a disaster.

What an interesting perspective. Thank you.

 

[Allen Trent]

5 pounds and a clean slate.

happy New year. I have a resolution to be serious & only professional during 2023 and not be sarcastic or immature. New Me in 2023