The claims process is a critical component of personal line insurance, particularly in Maryland, where regulations mandate specific steps to ensure fair treatment of policyholders. Initially, the process begins when a policyholder notifies their insurer of a loss or damage. This notification must be timely and provide relevant details regarding the incident. Following notification, the insurer will conduct a thorough investigation to assess the validity and extent of the claim. This investigation often includes gathering statements from involved parties, obtaining police reports in the case of an accident, and evaluating any evidence submitted by the claimant. Once the investigation is complete, the insurer will make a determination regarding the claim. This may involve either approving the claim and issuing payment to cover damages or denying the claim based on the findings of the investigation. If a claim is denied, the insurer is obligated to provide a detailed explanation for the denial, citing relevant policy provisions. Finally, if the policyholder is dissatisfied with the insurer’s decision, they have the right to appeal the decision through a formal dispute resolution process, which may involve mediation or arbitration as outlined in Maryland’s insurance regulations. This procedural framework ensures that claims are handled fairly and in accordance with established laws.

Understanding the components of an insurance policy is crucial for both policyholders and insurance professionals. In Maryland, personal line insurance policies typically consist of several key elements, including declarations, insuring agreements, exclusions, and conditions. The declarations section provides essential details such as the insured’s name, the policy period, and the coverage limits. Insuring agreements outline the coverage provided, specifying what risks are protected under the policy. Exclusions detail what is not covered, helping to manage expectations and avoid misunderstandings. Conditions set forth the responsibilities of both the insurer and the insured, which can include payment of premiums, notice of claims, and how disputes will be resolved. Each of these components plays a vital role in shaping the coverage and the obligations tied to the policy, thereby influencing both risk management and claims processing. Recognizing how these elements interact helps in evaluating the adequacy of coverage and ensures compliance with Maryland’s insurance regulations.

Understanding the relationship between underlying policies is vital in personal lines insurance in Maryland. An underlying policy serves as the foundation for additional coverage, often found in insurance products such as umbrella insurance. These types of policies are designed to cover liability that exceeds the limits of underlying policies. Therefore, knowing the coverage limits and exclusions of these primary policies is crucial when assessing risk and determining the adequacy of coverage. A failure to address the relationship can lead to gaps in coverage that leave policyholders exposed to significant financial risk. Additionally, Maryland insurance regulations require clear communication from insurers regarding how additional policies interact with underlying ones, ensuring consumers can make informed decisions. This understanding also influences claims processes since insurers will evaluate claims in light of existing underlying policies before determining any payout. Educating clients about the nature and limitations of their underlying policies can ultimately serve as a protective measure against unexpected liabilities and losses.

The role of state insurance departments, particularly in Maryland, is crucial in regulating the insurance industry to ensure consumer protection and maintain a competitive market. The Maryland Insurance Administration (MIA) oversees various aspects of insurance operations, including licensing of insurance companies, agents, and brokers. State insurance departments also implement and enforce laws regarding the conduct of insurers, ensuring compliance with state regulations designed to promote fair practices. This involves monitoring financial solvency to protect consumers from potential losses due to insurer insolvency. Additionally, state departments handle consumer complaints, provide educational resources, and advocate for transparent practices within the insurance marketplace. By establishing rates and approving policy forms, they help to balance the interests of both consumers and insurers while striving to avoid discriminatory practices. Moreover, they play a pivotal role in implementing new laws and regulations as directed by the state legislature, adapting to the evolving landscape of the insurance industry. Therefore, understanding these roles can help insurance professionals navigate the regulatory environment effectively.

In the context of property insurance, characteristics such as location, age, and condition of the property play a crucial role in determining risk and insurability. For instance, properties located in high-risk areas (like those prone to flooding or wildfires) typically attract higher premiums or stricter underwriting standards. The age of a property is essential because older buildings may have outdated electrical or plumbing systems, which can increase the likelihood of loss events. Similarly, the condition of a property, including structural integrity and maintenance, affects both its insurability and coverage limits. Insurers often require inspections to assess these factors, and they may impose additional requirements or exclusions based on the findings. Understanding how these characteristics interact allows an agent to provide better advice to clients regarding coverage, policy types, and premium costs. Therefore, it’s essential for agents to not only gather information but also analyze how these elements collectively impact insurance decisions in Maryland.

In Maryland, liability coverage is integral to personal lines insurance as it provides financial protection against claims arising from bodily injury or property damage caused by the insured. Understanding the nuances of liability coverage is vital for consumers and insurance professionals alike. Bodily injury liability covers expenses related to physical injuries that you may cause to another person in an accident, including medical bills, rehabilitation costs, and compensation for lost wages. Property damage liability, on the other hand, addresses damages incurred to someone else’s property, such as their vehicle or home. It is essential to note that both types of liability coverage provide protection against legal fees incurred when defending yourself against a claim, as these can be substantial in the event of a lawsuit. Furthermore, Maryland operates under a “fault” system for auto insurance, which means the party responsible for the accident is liable for damages. Thus, having appropriate liability limits is crucial to ensure adequate protection in case of significant accidents. The absence of sufficient coverage can lead to financial hardships, including out-of-pocket costs for damages exceeding the policy limits.

In the realm of personal lines insurance, understanding the claims process is crucial to ensuring that policyholders receive the benefits they are entitled to under their insurance contracts. The claims process typically begins when a policyholder reports a loss or an event that has caused damage or injury covered by their policy. It is essential for the insurance company to conduct a thorough investigation to determine the validity of the claim. This investigation may include collecting evidence, interviewing the claimant, and reviewing relevant documents. In Maryland, insurance regulations mandate that insurance companies must handle claims fairly and promptly, adhering to the Maryland Insurance Administration’s guidelines. Additionally, insurers must keep the claimant informed throughout the process and may not unreasonably delay payments. Understanding the nuances of the claims process allows agents to effectively advocate for their clients, ensuring that they navigate challenges, such as disputes over coverage or insufficient evidence, with a clear understanding of their rights and responsibilities.

The landscape of personal lines insurance is shifting due to various global trends that affect how insurance products are developed, delivered, and managed. These trends include advancements in technology, changes in consumer behavior, and environmental challenges. Technology has introduced new tools, such as telematics and artificial intelligence, that allow insurers to collect data in real-time, personalizing policies to better meet the needs of clients while potentially reducing costs for both parties. Furthermore, consumer expectations are evolving; clients increasingly seek transparency, immediate service, and a user-friendly digital experience, which means insurers must adapt their approach to meet these demands. Environmental factors, particularly climate change, also play a crucial role, with insurers needing to address an increase in natural disasters and property vulnerabilities, necessitating new underwriting practices and policy adjustments. Understanding these interrelated trends equips insurance professionals in Maryland with the ability to anticipate market shifts and innovate within their offerings. This proactive approach is crucial for maintaining relevance in a competitive market and ensuring compliance with evolving regulations.

Risk assessment in the context of personal line insurance is essential for determining the likelihood of loss and the appropriate premiums to charge. It involves evaluating various factors that contribute to risk, including historical data, client profiles, and environmental influences. Maryland regulations require insurers to utilize sound actuarial practices and data analysis when conducting risk assessments. The process helps insurers identify hazards, gauge the insurability of a client, and develop strategies to mitigate risks where possible. For instance, assessing a property’s location for natural disaster vulnerabilities, evaluating the safety features of a home, or understanding the driving habits of a policyholder helps insurers tailor policy terms and conditions accordingly. Additionally, compliance with state regulations mandates that insurers avoid discriminatory practices during risk assessments, ensuring fairness and transparency. By gathering comprehensive information and analyzing it correctly, insurers can make informed decisions that not only uphold ethical standards but also align with the regulatory framework in Maryland, ultimately leading to improved outcomes for both insurers and insured parties.

In Maryland, personal property insurance is essential for homeowners and renters, covering a range of belongings against various risks. Personal property often includes items such as furniture, clothing, electronics, and other personal effects. Understanding what types of personal property are covered is crucial for policyholders, as different policies may offer different levels of protection. Generally, common perils like theft, fire, and vandalism are covered, but exclusions often apply. Policyholders should also be aware of the distinction between actual cash value (ACV) and replacement cost coverage. ACV provides compensation based on the item’s depreciated value, while replacement cost pays for the full cost of replacing the item without depreciation. Additionally, certain personal property, such as high-value items (e.g., jewelry, art, collectibles), may require special endorsements for adequate coverage. Clarifying these factors helps clients make informed decisions regarding their insurance needs and ensures they are sufficiently protected against potential losses.

In the realm of Maryland Personal Line Insurance, understanding the primary purpose and definition of personal lines insurance is crucial for both the provider and the consumer. Personal lines insurance refers to policies that cover individuals and their personal property, as opposed to commercial lines insurance, which caters to businesses. This type of insurance is designed to protect policyholders from financial loss due to unexpected events such as accidents, theft, or natural disasters. Common examples of personal lines insurance include homeowners, renters, and automobile insurance. Each of these policies serves the critical function of providing a safety net that helps individuals mitigate the financial risks associated with various perils. In Maryland, specific regulations govern personal lines insurance to ensure transparency and fairness, protecting the rights of consumers while also holding insurance companies accountable for their practices. By grasping the fundamental nature and objectives of personal lines insurance, agents and consumers alike can make informed decisions, selecting appropriate coverage to meet individual needs and compliance with state regulations. Understanding these nuances is key to successfully navigating the insurance landscape in Maryland.

Consumer decisions in personal lines insurance are influenced by a variety of factors including perceived value, trust in the insurance provider, and the specifics of the coverage being offered. In Maryland, consumers lean heavily toward obtaining insurance that aligns with their personal needs and financial situations. For instance, individuals often evaluate the cost of premiums in relation to their coverage limits, deductibles, and overall policy benefits. Additionally, personal relationships with agents or prior experiences can significantly enhance their confidence in a particular insurer. Furthermore, testimonials, online reviews, and recommendations from friends and family can also sway consumer choices as they seek to mitigate the uncertainty associated with insurance products. As insurance is intrinsically tied to risk management, the clarity of policy terms and conditions, as well as the insurer’s reputation for claims handling, can greatly impact the consumer’s decision-making process. Thus, understanding these influences is critical for insurance professionals operating within Maryland’s regulatory framework.

The declarations page of an insurance policy serves as a critical component that summarizes essential details of the insurance coverage. It outlines specific information such as the policyholder’s name, address, the coverage limits, and the effective dates of the policy. In Maryland, understanding the declarations page is crucial for both consumers and insurance professionals, as it not only serves as an overview of the coverage but also helps in claims processing and understanding the rights and responsibilities of the insured. Additionally, the declarations page acts as a reference point for determining coverage and exclusions, which can significantly influence claims outcomes. It is essential to review the declarations page thoroughly to ensure accuracy and comprehensiveness, as any discrepancies or misunderstandings can lead to issues during claims or renewals. Furthermore, insurance agents and brokers in Maryland must guide their clients in analyzing this document to ensure they have the appropriate coverage needed to protect their assets.

Insurance fraud in personal lines is a significant concern for insurers, as it can lead to increased premiums and distrust among policyholders. One common type of fraud is “staged accidents,” where individuals deliberately cause an accident or alter the circumstances of an existing one to claim damages. This manipulation can involve collusion among multiple parties, such as drivers, witnesses, and even medical providers, with the intent of maximizing claims payouts. Another form of fraud is “inflated claims,” where a policyholder exaggerates the extent of damages or losses to receive a higher financial settlement. This often involves misrepresenting facts about a loss event, such as claiming items were stolen when they were not. “Phantom injuries” is also a recognized type, where individuals fabricate injuries that did not occur or were not as severe as claimed. Understanding the nuances of these fraudulent activities helps insurers balance risk and efficient claims processing while adhering to Maryland laws and regulations aimed at curbing fraud and protecting consumers.

In the context of liability claims, defenses play a critical role in determining whether a defendant can mitigate or eliminate their responsibility for damages. One significant defense is the concept of “contributory negligence,” which is particularly relevant in Maryland, as the state follows this rule in tort law. Under contributory negligence, if the injured party is found to have any degree of fault in the incident that caused their injury, they may be completely barred from recovering damages. This strict standard differs from comparative negligence rules adopted in many other states, where damages can still be awarded even if the injured party shares some responsibility. Another important defense is “assumption of risk,” which arises if it can be shown that the injured party voluntarily engaged in an activity that they understood carried a risk of harm. Additionally, a defendant may also invoke the “statute of limitations” defense, arguing that the time period to file a claim has expired. Understanding these defenses is essential in evaluating potential liability and advising clients effectively, particularly given Maryland’s unique legal landscape.

In Maryland, personal property coverage is a critical component of homeowners insurance policies. This type of coverage protects the insured’s belongings within the premises, providing compensation in the event of loss or damage due to specified perils such as theft, fire, or vandalism. Understanding the nuances of personal property coverage is essential for individuals to ensure they have adequate protection. Coverage typically applies to items like furniture, electronics, clothing, and appliances. It’s important to be aware that most policies have a limit on the amount paid for certain categories of high-value items, such as jewelry or art, unless the policy is specifically endorsed to increase these limits. Additionally, the actual cash value (ACV) or replacement cost (RC) basis may apply, influencing the compensation amount after a loss. Insured individuals must also be mindful of exclusions; for example, some policies may not cover losses due to flooding. Recognizing these facets allows for informed decisions when selecting or reviewing a personal property insurance policy.

Networking and industry associations play a crucial role in the personal lines insurance sector in Maryland. These associations, such as the Maryland Association of Insurance Agents (MAIA), not only provide a platform for professionals to collaborate and share best practices but also offer essential resources for navigating the regulatory landscape. Membership in these organizations often leads to access to ongoing education, workshops, and events that help agents stay updated on changes within both the industry and state laws. Additionally, being part of such networks allows agents to establish valuable relationships with peers, regulatory bodies, and other stakeholders, which can be pivotal in resolving issues or understanding complex regulatory requirements. The networking opportunities provided by these associations enhance the agents’ ability to serve their clients effectively, ensuring they are informed about the latest products, compliance requirements, and risk management strategies. This, in turn, fosters an environment of professionalism and ethics, which is vital for gaining consumer trust and maintaining the integrity of the insurance profession.

Customer service and retention are critical components of successful personal lines insurance in Maryland. Effective customer service fosters trust and loyalty between clients and insurance providers. A positive experience not only enhances customer satisfaction but also significantly contributes to retention rates. Retention is vital because gaining new customers often incurs higher costs than maintaining existing ones. When clients feel valued through consistent, responsive service, they are more likely to renew their policies and recommend the insurer to others, which can lead to organic growth through referrals. Furthermore, Maryland law emphasizes transparency and communication in insurance practices, reinforcing the need for agents to prioritize customer service. By understanding customer needs, addressing concerns promptly, and providing clear information about policies, agents can create a supportive environment that encourages long-term relationships. Ultimately, a strong focus on customer service can differentiate an insurer in a competitive market, enhancing both the reputation of the company and overall industry standards.

Risk assessment and underwriting are critical components of the Maryland Personal Line Insurance framework. Insurers assess the risks associated with potential clients to determine appropriate coverage and premiums. A comprehensive risk assessment examines various factors, including the applicant’s past insurance claims, their financial stability, and the specifics of the asset or property being insured. In Maryland, insurers must adhere to regulations that govern the underwriting process to ensure fair practice and compliance with consumer protection laws. One key consideration in risk assessment is the applicant’s behavior and lifestyle, which can influence the likelihood of claims. For instance, individuals with a history of frequent claims or risky behavior may be considered higher risk. Additionally, specific underwriting guidelines may vary between property and casualty insurance, leading underwriters to focus on building structural integrity in property insurance while emphasizing liability concerns in auto insurance. Understanding these layers of risk helps ensure that both insurers and consumers are well-protected and informed.

Homeowners insurance is a vital aspect of personal line insurance in Maryland, offering protection for both the dwelling and the personal property within it. A comprehensive homeowners policy typically includes several key components: dwelling coverage, personal property coverage, liability protection, and additional living expenses coverage. Understanding the specifics of these coverages is crucial when assessing the adequacy of insurance for a home. One important aspect is the difference between Replacement Cost and Actual Cash Value. Replacement Cost coverage allows homeowners to replace destroyed property with new items of like kind and quality without deducting for depreciation, while Actual Cash Value pays out based on the current value of the property, factoring in depreciation. This distinction can significantly impact the amount received during a claim. Additionally, specific exclusions may apply, including damage from certain natural disasters or neglect. Maryland regulations also mandate clear communication about coverage limits and deductibles, ensuring that policyholders make informed decisions about their coverage options. Ultimately, a thorough understanding of these interconnected aspects helps homeowners in Maryland choose the appropriate policy and navigate claims effectively.

Liability coverage in personal lines insurance is a crucial component that protects individuals from legal responsibility resulting from bodily injury or property damage to third parties. In Maryland, personal liability coverage typically forms part of homeowners or renters insurance policies. This coverage provides financial protection against lawsuits and claims that may arise due to injured parties or damaged property. The scope of liability insurance includes both personal and premises liability, covering incidents that occur within the policyholder’s home and in other areas where they may be deemed responsible, such as an auto accident. Understanding the specifics of what is included and excluded in these policies is essential for both policyholders and insurance professionals. Notably, exclusions might include intentional acts or damage arising from professional services. Furthermore, liability coverage limits set a maximum amount for payouts, meaning individuals could still face significant financial exposure if a claim exceeds those limits. A critical aspect of this coverage is that it can include legal defense costs, which often can accumulate quickly in the event of a lawsuit, thus reinforcing the importance of adequate limits and understanding policy conditions.

The role of the courts in insurance disputes is pivotal as they serve as arbiters in cases where disagreements arise between insurers and policyholders. Courts determine whether an insurer is complying with the terms of the policy and if the claims made by the policyholders are valid under the law and the specifics of the policy. In Maryland, the legal framework governing insurance disputes is guided by both statutory laws and case law. Courts assess the contractual obligations outlined in insurance policies, interpret these terms, and apply legal precedents to resolve disputes. They also consider state-specific regulations that govern insurance practices, ensuring that both parties adhere to the laws designed to protect consumer rights and uphold fair business practices. Furthermore, courts provide a mechanism for appealing decisions, ensuring that all parties have access to a fair hearing and review process. Understanding the nuances of how courts operate within the insurance sector is essential for practitioners, as they navigate the complexities of legal interpretations and the precedents that shape insurance law in the state.

The claims process is an essential part of the insurance industry, especially in personal lines coverage, as it is the mechanism through which policyholders receive compensation for losses they have incurred. In Maryland, the claims process must adhere to specific legal regulations and standards set forth by the Maryland Insurance Administration (MIA). A critical aspect of the claims process is the duty of good faith and fair dealing; insurers are legally obligated to process claims promptly, fairly, and without unreasonable delay or denial. Failures in this process can lead to significant reputational damage and legal penalties for the insurance provider, as well as financial strain on policyholders. Furthermore, the process generally involves several key steps: claim filing by the insured, investigation by the insurer, assessment of damages, and resolution through payment or denial. Throughout the process, open communication is vital to avoid misunderstandings and to ensure transparency. Understanding the nuances of the claims process allows insurance professionals to better serve their clients and maintain compliance with Maryland’s insurance regulations.

Customer service and retention are critical components in the personal lines insurance industry, particularly in Maryland, where competitive markets require agencies to differentiate themselves through superior service. Effective customer service consists of timely responses, thorough communication, and understanding the unique needs of each client. When clients feel valued and understood, they are more likely to remain loyal to their insurance providers, which in turn reduces turnover rates and the costs associated with acquiring new clients. Furthermore, high retention rates can lead to increased referrals, as satisfied customers often share their positive experiences with friends and family. Agencies must also foster strong relationships with clients by regularly checking in, providing periodic reviews of their insurance needs, and being proactive in addressing potential issues before they escalate. In Maryland specifically, adherence to consumer protection laws ensures that clients are treated fairly, which further bolsters trust and loyalty. Ultimately, investing in customer service is not just an operational necessity; it is a strategic approach to long-term success in the insurance market.

In the realm of personal line insurance in Maryland, understanding the specific limitations on coverage for particular risks is essential for both agents and policyholders. Personal lines policies, such as homeowners, renters, and personal auto insurance, often have exclusions or limitations that delineate the scope of coverage. For instance, standard homeowners policies typically exclude coverage for certain natural disasters like floods and earthquakes unless a separate policy is purchased. Likewise, certain personal auto policies may limit coverage for business use of a vehicle or driving under the influence. It is critical for agents to communicate these limitations clearly to clients to avoid misunderstandings and potential financial loss. Clients need to be made aware that they might need additional coverage options or riders to fully protect themselves against specific risks. Furthermore, awareness of these limitations is crucial for compliance with state regulations and ethical standards to ensure that agents provide accurate and complete information. Understanding these nuances not only enhances customer service but also helps maintain the integrity of the insurance practice in Maryland.

In the realm of personal line insurance in Maryland, customer service and retention play vital roles in sustaining a successful business. Excellent customer service fosters strong relationships with clients, which can lead to increased retention rates. When customers feel valued and receive prompt, efficient responses to their concerns, they are more likely to remain loyal to the insurer. This loyalty is crucial, particularly in a market where customers have many options for insurance. It is essential for agents to not only address problems but also proactively engage with clients through regular communication and personalized service. Additionally, the insurance industry is governed by various regulations that highlight the importance of transparent practices and ethical behavior in customer interactions, which can further enhance trust and satisfaction. Retention strategies may include loyalty programs, periodic policy reviews, and ensuring that clients understand their coverage. By prioritizing customer service, insurance providers can ultimately reduce churn and bolster their reputation, which is crucial for long-term success in the competitive Maryland market.

Liability limits are critical in personal line insurance, especially in the state of Maryland. They specify the maximum amount an insurer will pay for covered losses, thereby protecting both the insurer and the insured from excessive financial exposure. Understanding these limits is essential for policyholders to ensure adequate coverage against potential liabilities that may arise from property damage or bodily injury to others. In Maryland, various types of personal insurance, such as auto insurance, homeowners’ insurance, and renters’ insurance, have distinct liability limit requirements mandated by state law. For instance, Maryland law requires a minimum liability coverage for auto insurance, but many financial advisors recommend higher limits to cover potential claims that could exceed this minimum. By reviewing and possibly increasing these limits, policyholders can mitigate risks associated with lawsuits, ensuring they are better protected financially in the event of an accident or incident. Furthermore, lack of sufficient coverage might lead to personal financial ruin, emphasizing the importance of understanding liability limits within the framework of Maryland’s personal line insurance regulations.

Consumer protection laws play a crucial role in the insurance industry by safeguarding policyholders from unfair practices and ensuring that they are treated with fairness and transparency. In Maryland, these laws are designed to promote the integrity of the insurance marketplace and enhance consumer confidence. Key elements include the requirement for clear disclosure of policy terms, the prohibition of misleading advertising, and the stipulation that claims must be handled promptly and fairly. These regulations also include guidelines for providing consumers with critical information about their rights and responsibilities under insurance contracts. Advertisements are strictly regulated to prevent deceptive practices that may mislead consumers regarding coverage options. Additionally, the Maryland Insurance Administration serves as a watchdog to enforce these rules and address any grievances from consumers. Understanding these laws helps both consumers and insurance professionals navigate the complexities of personal lines insurance while ensuring that ethical standards are maintained throughout the process. Essentially, these protections empower consumers to make informed decisions and hold insurers accountable for their practices.

Understanding target markets is crucial for insurance professionals, especially in the context of Maryland’s personal line insurance products. Each insurance policy is designed with a specific clientele in mind, reflecting their unique needs and risk profiles. A target market can be defined by various factors such as demographics, socioeconomic status, life stage, and geographic location. For instance, a company may focus its offerings on homeowners in urban areas, highlighting policies that cater specifically to urban living and associated risks, such as theft or fire due to proximity to neighbors. Furthermore, evolving market conditions, customer preferences, and technological advancements necessitate that insurers constantly assess and redefine their target markets. This evaluation may include conducting market research, analyzing customer data, and adapting marketing strategies to ensure alignment with the identified target audience. Being aware of target markets not only helps organizations in product design and marketing strategies but also enhances customer engagement and satisfaction, ultimately leading to a more successful insurance operation that meets the specific needs of clients.

Exclusions in insurance policies, including personal lines insurance in Maryland, play a crucial role in defining the scope of coverage. They are specific conditions or circumstances under which the insurance policy does not provide coverage. Understanding the impact of these exclusions is essential for policyholders, as they can significantly affect the financial protection afforded in various scenarios. For example, common exclusions may include damage caused by flooding, wear and tear, or acts of war. These exclusions are designed to limit the insurer’s liability and protect against high-risk situations that are not deemed insurable. In Maryland, insurers must clearly delineate these exclusions in their policy documents, ensuring that consumers are fully aware of what is and is not covered. When evaluating a claim, if the incident falls under an exclusion, the insurer is typically not liable for the associated costs. This highlights the importance of consumers carefully reviewing their insurance contracts to understand the limitations of their coverage and potentially adjusting their policy or seeking additional coverage if necessary.