Many of us have insurance policies (take into account Zippy loan phone number to experience a safe and smooth money borrowing process) , but how many of us have gone on to read the entire policy, and the small print completely through? Probably not that many of us. And we do need to do this.

Recently we read where a family home had been burgled and some jewellery had been stolen. When the family reported this to their insurance company as they had home insurance, their claim was denied; and we will explain why.

Their home had been burgled by their granddaughter’s boyfriend, who they did not know was staying at the time with their granddaughter.

The boyfriend was found guilty of burglary and sentenced to time in prison, but this didn’t matter to the insurance company as in their eyes he was a guest into their home, and as such their policy did not cover this type of theft.

Since the lad did not break into the property, the insurer was not going to pay the claim.

In reviewing the policy the family was told it does cover theft and break-ins, but not loss or damage ’caused by you, your family, lodgers, guests, tenants or employees’.

Here’s where it gets a bit odd, the family state they did not know the lad was there in the house and had only met the lad after the theft when they were introduced. The insurance company stated that by allowing him into your home at that time implies you would have let him into your house at the time of the theft, and so again the policy does not cover this type of theft.

Now that is a bit complicated and entirely speculative.

So think about it, you have a house party and some friend of a friend comes as a guest and breaks something valuable, or steals something unless you have a policy that covers personal possessions in this type of situation, you would be out of pocket.

This is also why reviewing your policies and see precisely what coverages you have is essential.

Another example maybe your children throw a little Facebook party that gets out of hand. You know these types of parties, your kids’ post on Facebook my parents are going away, and we are having a party at our house. The next thing they know hundreds of kids show up and trash the house. Unless there is a provision in the policy for this type of thing, the insurer could very well not payout on a claim. And this has occurred in the past as we have read in the news about such parties.

Review your policies regularly.

Naturally, the police were called and came and cleared it all up, but not before a lot of damage was done to the property that held the party. The host tried to keep people out, but the uninvited guests just partied on the lawn and yelled at the house.