Education
How Insurance Coverage Works
Limits, deductibles, coverage triggers, and the exclusions you have to read for.
Insurance contracts are unusual: you buy them hoping never to use them, and the value is in the fine print. A short primer on the four things that matter most: limits, deductibles, triggers, and exclusions.
What to expect
How it works
- Limits: the most the carrier will pay, per claim and in aggregate
- Deductibles: what you pay before the carrier pays the rest
- Triggers: occurrence vs claims-made, and why claims-made policies need prior-acts
- Exclusions: the carve-outs you must read for, especially on cyber and management liability
FAQs
Common questions
- What is the difference between occurrence and claims-made?
- Occurrence covers events that happen during the policy period regardless of when the claim is filed. Claims-made covers claims first reported during the policy period, which is why prior-acts coverage matters when you switch carriers.
- Is a higher deductible always cheaper?
- Often, but not always. Past a certain point, carriers stop discounting because the higher deductible no longer changes their loss model. We will show you the breakpoints.
Ready to talk?
Share a few details and an agent will respond within one business day.