{ "schema": "instanttools.facts.v1", "generated_at": "2026-10-10T13:53:16.825Z", "tool": { "id": "fineread", "name": "ReadMyPolicy", "url": "https://readmypolicy.ai", "tagline": "What does your policy actually cover? Find out in 30 seconds.", "description": "Instant plain-English insurance policy summary", "category": "document-analysis", "vendor": "Instant Tools", "model_backend": "Claude (Anthropic)" }, "pricing": { "model": "one-time", "amount_usd": 9.99, "currency": "USD", "subscription": false, "free_tier": false, "free_checklist_url": "https://readmypolicy.ai/checklist", "account_required": false, "refund_policy": "100% refund if report is not useful" }, "lead_magnet": { "type": "checklist", "title": "Policy Trap Checklist", "url": "https://readmypolicy.ai/checklist", "description": "Before you assume a policy covers the thing you care about, check these lines.", "items": [ "Settlement basis: replacement cost usually pays very differently from actual cash value.", "Separate deductibles: wind, hail, named storm, and percentage deductibles can be much larger than the main deductible.", "Sub-limits: jewelry, electronics, mold, water backup, and special property often have separate caps.", "Exclusions: flood, earth movement, business use, breed liability, and vacancy clauses are common surprise gaps.", "Timing rules: notice deadlines, proof-of-loss deadlines, and repair documentation can matter after a claim." ] }, "performance": { "median_turnaround_seconds": 30, "max_input_size_mb": 10, "supported_input_formats": [ "pdf", "docx", "txt", "jpg", "png" ], "languages": [ "en" ] }, "capabilities": [ { "title": "Hidden Weather Deductibles", "description": "Many policies bury separate deductibles for wind, hail, or named storms — often 2-5% of your dwelling value instead of a flat $2,500. That's $10,000+ out of pocket before coverage kicks in." }, { "title": "Jewelry & Valuables Caps", "description": "Standard homeowner's policies cap jewelry at $1,500 per incident. If your engagement ring costs more, a single loss could leave you uncovered." }, { "title": "Sewer Backup Exclusions", "description": "Nearly all standard policies exclude sewer and drain backup — a $10,000+ claim waiting to happen. A $50/year endorsement fixes this." }, { "title": "Dog Breed Liability", "description": "Pit bulls, rottweilers, and wolf hybrids are often excluded entirely from liability coverage. One bite could mean a six-figure lawsuit you pay out of pocket." }, { "title": "Short Claim Windows", "description": "Some policies require claims within 30-60 days of loss — not discovery. Miss the window and your claim is dead on arrival." }, { "title": "Home Business Exclusions", "description": "If you work from home, most policies exclude business equipment, client visits, and liability. One slip-and-fall and you're personally liable." } ], "use_cases": [ { "title": "Homeowners & Condo", "description": "Decode your HO-3, HO-5, HO-6, or condo policy before disaster strikes — find the gaps your agent didn't mention." }, { "title": "Renters", "description": "Know if your renters insurance actually protects your stuff — and exactly what's excluded." }, { "title": "Drivers", "description": "Decode your auto policy: collision, comprehensive, liability limits, uninsured motorist, and rental coverage." }, { "title": "Health & Disability", "description": "Understand your deductible, out-of-pocket max, in/out of network rules, and what's excluded — before you need care." }, { "title": "Small Business", "description": "General liability, E&O, BOP, cyber — find the coverage gaps that could sink you in a single claim." }, { "title": "Claim Disputes", "description": "Read what your policy actually says before you file — know exactly what they can and can't deny." } ], "output_fields": [ "grade", "gradeExplanation", "summary", "covered", "notCovered", "gotchas", "deductibles", "limits", "actionItems" ], "stats": [ { "label": "of homeowner claims were denied in 2023", "value": "12%", "source": "III" }, { "label": "Americans are underinsured against flood risk", "value": "41%", "source": "FEMA" }, { "label": "of homeowners have never fully read their policy", "value": "64%", "source": "Insurance Research Council" } ], "competitors": [ { "name": "Policygenius", "url": "https://www.policygenius.com", "pricing_their": "Free to use (funded by carrier commissions)", "pricing_ours": "$9.99 one-time per policy", "we_differ_on": [ "We review the policy you already have — we don't sell you a new one.", "No broker phone calls or email follow-ups; you paste a policy and get a report.", "Our read is plain-English: grade, gaps, gotchas, deductibles. It's designed to help you argue a claim, not compare new quotes." ] }, { "name": "Coverager", "url": "https://coverager.com", "pricing_their": "Free articles + paid industry research", "pricing_ours": "$9.99 one-time per policy", "we_differ_on": [ "Coverager is a publication about the insurance industry; ReadMyPolicy is a tool that reads your actual policy document.", "We output a consumer-facing report (grade, gaps, exclusions) rather than industry commentary.", "We're priced per-policy, not per-subscription." ] }, { "name": "A local insurance broker", "url": null, "pricing_their": "Free consultation (paid via carrier commissions)", "pricing_ours": "$9.99 one-time per policy", "we_differ_on": [ "A broker is paid when you buy a policy; we have no commission incentive to recommend anything.", "We return a written report in about 30 seconds — no scheduling, no call.", "We don't collect your contact info or SSN to give you an analysis." ] }, { "name": "ChatGPT", "url": "https://chatgpt.com", "pricing_their": "Free tier + $20/mo Plus", "pricing_ours": "$9.99 one-time per policy", "we_differ_on": [ "We return a structured report — grade, covered, not covered, gotchas, deductibles — not a chat transcript.", "Our prompts are tuned for insurance policy analysis specifically, with a checklist of what to look for.", "No account, no chat history — paste and go." ] } ], "faq": [ { "q": "How does ReadMyPolicy work?", "a": "Paste or upload your policy. Our AI reads every clause, exclusion, and footnote, and returns a plain-English summary: what appears to be covered, what appears to be excluded, sub-limits and deductibles to be aware of, and questions to bring to your licensed agent. About 30 seconds. Informational only." }, { "q": "Is my insurance data safe?", "a": "Your policy is sent to our AI provider for analysis and is not stored by us. We don't sell your data and we don't build a profile on you. See our Privacy Policy for details." }, { "q": "Can I upload a PDF of my policy?", "a": "Yep. PDF, Word, plain text, even a photo of a paper policy if that's what you've got. Drag and drop or click. 10MB cap." }, { "q": "How accurate is the summary?", "a": "AI can make mistakes — sometimes confidently. The summary may contain factual errors, miss context, or misinterpret the policy text you submitted. Treat the output as a starting point for a conversation with your licensed agent, not a definitive coverage opinion. For claim disputes or high-stakes decisions, your agent or a licensed attorney is the right call." }, { "q": "What if the summary is wrong?", "a": "You are responsible for verifying every detail (deductible amounts, exclusion language, sub-limits, named clauses) against the source policy and with your licensed agent before acting. We're not liable for decisions you make based on inaccurate output. If the analysis itself won't run, our refund policy covers that." }, { "q": "What types of insurance can it summarize?", "a": "Homeowners (HO-3, HO-5, HO-6), renters, auto, condo, landlord, umbrella, most personal lines. Works on business and health too — just slightly less detailed on those because the policies are weirder." }, { "q": "How much does it cost?", "a": "$9.99. Once. Not a subscription, not a trial, not a mailing list. Pay, get the summary, close the tab." }, { "q": "Is this insurance advice? Can it replace my agent?", "a": "No. ReadMyPolicy is an informational summary tool. We are not a licensed insurance producer, broker, or agent. Use the summary to know what questions to bring to your licensed agent — they're the right person for any actual coverage decision." } ], "guide_answers": [ { "question": "Will filing an insurance claim raise my rates? What to know before you call your insurer", "answer": "Yes -- most at-fault or chargeable claims raise your rates for 3-5 years. The increase varies by insurer, claim type, and state, but 20-50% is typical for auto; 5-20% for home. For small claims close to your deductible, paying out of pocket often costs less over time.", "published": "2026-07-01", "source": "https://readmypolicy.ai/guides/will-filing-insurance-claim-raise-my-rates-2026" }, { "question": "When should you get life insurance? The right age, life stage, and amount to buy in 2026", "answer": "The right time to buy life insurance is when someone depends on your income or when you have debts that would burden others if you died. For most people, that's in their late 20s to early 30s -- and buying then locks in premiums while you're young and healthy.", "published": "2026-07-01", "source": "https://readmypolicy.ai/guides/when-should-i-get-life-insurance-2026" }, { "question": "How car insurance works in 2026: coverage types, what's required, and what's optional", "answer": "Car insurance is made up of multiple separate coverages -- liability, collision, comprehensive, medical, uninsured motorist, and optional add-ons. Only liability is legally required in most states. The rest depends on your car's value, your risk tolerance, and your lender's requirements.", "published": "2026-07-01", "source": "https://readmypolicy.ai/guides/how-car-insurance-works-2026" }, { "question": "Condo insurance explained: what HO-6 covers and what your HOA's master policy misses", "answer": "Condo insurance (HO-6) covers three things your HOA's building policy doesn't: your unit's interior structure, your personal belongings, and your personal liability. Expect to pay $100-$400/year depending on your location and coverage limits.", "published": "2026-07-01", "source": "https://readmypolicy.ai/guides/condo-insurance-explained-2026" }, { "question": "COBRA vs. marketplace insurance: which costs less after job loss in 2026", "answer": "Marketplace insurance is almost always cheaper than COBRA for people who qualify for premium tax credits (income under roughly $60,000/year single, or $123,000/year for a family of 4 in 2026). COBRA makes more sense if you need uninterrupted coverage mid-treatment or if your income is high enough that marketplace subsidies phase out.", "published": "2026-07-01", "source": "https://readmypolicy.ai/guides/cobra-vs-marketplace-insurance-2026" }, { "question": "Travel insurance in 2026: what it covers, what it doesn't, and when it's worth buying", "answer": "Travel insurance bundles trip cancellation, emergency medical, medical evacuation, and baggage coverage into a single policy. Comprehensive plans typically cost 4-10% of your total trip cost. The math favors buying it on non-refundable international trips over $3,000, any trip that involves cruise or tour deposits, and all travel to countries where your domestic health insurance doesn't apply (which is most of them). The critical fine print: standard \"cancel for any reason\" coverage requires you cancel at least 48 hours in advance; specific covered reasons -- not \"I changed my mind\" -- drive most payouts.", "published": "2026-06-24", "source": "https://readmypolicy.ai/guides/travel-insurance-explained-2026" }, { "question": "Long-term care insurance in 2026: what it covers, what it costs, and when to buy it", "answer": "Long-term care (LTC) insurance pays for nursing home stays, assisted living facilities, and in-home care that standard health insurance and Medicare do not cover. The average nursing home costs $108,000 per year; the average assisted living facility costs $64,000. A solo LTC policy for a 55-year-old runs $2,000-$3,500/year for women and $1,400-$2,500/year for men. The case for buying it is strongest between ages 50-65: younger and you're paying premiums for decades before you need it; older and you may be declined or priced out.", "published": "2026-06-24", "source": "https://readmypolicy.ai/guides/long-term-care-insurance-2026" }, { "question": "How to dispute an insurance claim denial in 2026: the appeal process, deadlines, and what actually works", "answer": "An insurance company's initial claim denial is not final. You have the right to appeal -- first through the insurer's internal process, then through independent external review, and finally through your state insurance commissioner. The most common winning arguments are: the denial cites a policy exclusion that doesn't apply to your facts, the denial misclassifies the medical necessity of a treatment, or the insurer applied the wrong coverage tier. Deadlines are strict -- typically 30-180 days from denial -- so start immediately. Documentation wins: a denial with no supporting clinical evidence is far more vulnerable than one backed by a medical reviewer's report.", "published": "2026-06-24", "source": "https://readmypolicy.ai/guides/how-to-dispute-insurance-claim-denial-2026" }, { "question": "Home warranty vs. homeowners insurance: what each covers and which you actually need", "answer": "Homeowners insurance covers unexpected damage from covered perils (fire, storm, theft, burst pipes). A home warranty covers repair or replacement of appliances and systems that fail due to normal wear and age. These two products cover different risks, don't substitute for each other, and have very different claim experiences. Homeowners insurance is typically required by mortgage lenders. Home warranties are optional -- and whether they're worth buying depends on the age of your home, the appliances it contains, and your tolerance for out-of-pocket repair costs.", "published": "2026-06-24", "source": "https://readmypolicy.ai/guides/home-warranty-vs-homeowners-insurance-2026" }, { "question": "Collision vs. comprehensive car insurance: what each covers and when you need both", "answer": "Collision coverage pays to repair or replace your car if it's damaged in an accident with another vehicle or object. Comprehensive coverage pays for damage from events outside a collision -- theft, hail, fire, flooding, fallen trees, animal strikes, vandalism. Neither is required by law (your state's required auto liability covers the other person, not you). But if you have a car loan or lease, your lender almost certainly requires both. On an older, fully-owned car, the question of whether to drop one or both depends on your car's current value versus what you're paying in premiums.", "published": "2026-06-24", "source": "https://readmypolicy.ai/guides/collision-vs-comprehensive-insurance-2026" }, { "question": "Copay vs. coinsurance in 2026: what costs more", "answer": "A copay is a fixed dollar amount you pay per service (like $30 for a primary care visit). Coinsurance is a percentage of the allowed amount that kicks in after your deductible is met (like 20% of a $1,200 MRI). On routine visits, a copay usually costs less. On major procedures, 20% coinsurance can easily exceed what a flat copay would have been -- that's by design.", "published": "2026-06-17", "source": "https://readmypolicy.ai/guides/insurance-copay-vs-coinsurance-2026" }, { "question": "How to file an insurance claim in 2026: step by step", "answer": "File promptly (most policies require notice \"as soon as practicable,\" typically within 24-72 hours for auto and within days for home losses), document before you clean or repair anything, and get every insurer decision in writing. The most common reasons claims are delayed or denied: late notice, insufficient documentation, and covered losses described in ways that accidentally match exclusion language.", "published": "2026-06-17", "source": "https://readmypolicy.ai/guides/how-to-file-insurance-claim-2026" }, { "question": "How an HSA works in 2026: limits, taxes, and investing", "answer": "A Health Savings Account (HSA) is a tax-advantaged account for medical expenses. Contributions are pre-tax, growth is tax-free, and qualified withdrawals are tax-free -- a triple tax advantage no other account offers. To qualify, you must be enrolled in a High Deductible Health Plan (HDHP). In 2026, individuals can contribute up to $4,300; families up to $8,550. Unused funds roll over indefinitely and can be invested.", "published": "2026-06-17", "source": "https://readmypolicy.ai/guides/health-savings-account-explained-2026" }, { "question": "Gap insurance in 2026: what it covers and what it costs", "answer": "Gap insurance (Guaranteed Asset Protection) pays the difference between your car's actual cash value -- what your insurer pays on a total loss -- and the remaining balance on your auto loan. New cars depreciate 15-20% in year one; if you put less than 20% down and your car is totaled, you could owe thousands more than the insurance payout. Gap fills that hole. It typically costs $20-$40/year through your auto insurer -- roughly 10x cheaper than buying it through the dealership.", "published": "2026-06-17", "source": "https://readmypolicy.ai/guides/gap-insurance-explained-2026" }, { "question": "How dental insurance works in 2026: what's covered", "answer": "Dental insurance typically covers 100% of preventive care, 80% of basic restorative work (fillings), and 50% of major procedures (crowns, root canals) -- the 100-80-50 rule. Most plans cap total annual benefits at $1,000-$2,000. If you need two crowns in the same year, you may hit that cap on the first one and pay 100% out of pocket for the second. Dental insurance works best as a preventive maintenance plan with limited catastrophic value.", "published": "2026-06-17", "source": "https://readmypolicy.ai/guides/dental-insurance-explained-2026" }, { "question": "Is vision insurance worth it in 2026?", "answer": "Vision insurance is worth it if you buy glasses or contacts annually and use the plan's network. For someone who buys glasses every year (average cost $300-$600 out-of-pocket), a $10/month plan that covers the exam and discounts frames by $150 saves money. For someone who wears contacts with a simple prescription and orders online, or who never needs glasses, vision insurance frequently costs more than it saves.", "published": "2026-06-10", "source": "https://readmypolicy.ai/guides/vision-insurance-worth-it-2026" }, { "question": "Short-term health insurance risks: what to know in 2026", "answer": "Short-term health insurance plans are not required to comply with ACA requirements. They can exclude pre-existing conditions, cap total coverage at low limits, and deny claims for conditions they consider \"pre-existing\" even if you weren't previously diagnosed. The appeal: premiums are $100-$300/month vs. $400-$700+ for ACA marketplace plans. The risk: if something significant happens, you may owe tens of thousands of dollars that would have been covered under an ACA plan.", "published": "2026-06-10", "source": "https://readmypolicy.ai/guides/short-term-health-insurance-risks-2026" }, { "question": "No Surprises Act: out-of-network billing rights in 2026", "answer": "The No Surprises Act (effective January 2022) prohibits balance billing in two main situations: (1) emergency care at any facility regardless of network status, and (2) non-emergency care at an in-network facility where you had no meaningful choice about which provider performed the service (e.g., an anesthesiologist assigned without your input). In both cases, you pay only your in-network cost-sharing. Any bill for more than that is not legally your responsibility.", "published": "2026-06-10", "source": "https://readmypolicy.ai/guides/out-of-network-billing-2026" }, { "question": "Medigap plans 2026: which Medicare supplement plan fits", "answer": "Medicare supplement (Medigap) plans fill the cost-sharing gaps in original Medicare Parts A and B. Plan G is the most comprehensive plan available to new enrollees (covering everything except the Part B deductible). Plan N costs less than Plan G but has copays for office visits and ER visits. Both are far better than no supplement for people who use significant healthcare. Original Medicare without a supplement has no out-of-pocket maximum, meaning catastrophic illness can cost $50,000+.", "published": "2026-06-10", "source": "https://readmypolicy.ai/guides/medicare-supplement-plans-2026" }, { "question": "Health insurance open enrollment mistakes to avoid in 2026", "answer": "The three most expensive open enrollment mistakes are: (1) keeping your current plan without reviewing alternatives, (2) choosing the lowest premium without calculating total out-of-pocket costs, and (3) missing the HSA opportunity by enrolling in a non-HDHP plan. Employer open enrollment windows are typically 2-4 weeks in October-November. Missing the deadline locks you in until the next year (or a qualifying life event).", "published": "2026-06-10", "source": "https://readmypolicy.ai/guides/health-insurance-open-enrollment-mistakes-2026" }, { "question": "Is pet insurance worth it in 2026?", "answer": "Pet insurance makes financial sense for most young, healthy pets when the annual premium is less than the expected annual veterinary cost -- which is usually true. The real value is catastrophic protection: a $6,000 emergency surgery costs you $500-$1,000 with good pet insurance and $6,000 without it. The break-even on routine care is close; the break-even on major illness or injury strongly favors insurance.", "published": "2026-06-03", "source": "https://readmypolicy.ai/guides/pet-insurance-worth-it-2026" }, { "question": "Life insurance beneficiary: rules, mistakes, and how to update", "answer": "Your life insurance payout goes to whoever is named on the beneficiary designation form -- not whoever your will says. If the form names your ex-spouse and you never updated it, your ex-spouse receives the money. The 5 most common mistakes: outdated designations, naming minors directly, no contingent beneficiary, no per stirpes language, and naming your estate. These mistakes are entirely preventable with a 15-minute form update.", "published": "2026-06-03", "source": "https://readmypolicy.ai/guides/life-insurance-beneficiary-rules-2026" }, { "question": "Health insurance prior authorization: how it works and how to fight it", "answer": "Prior authorization (prior auth) is approval you must get from your insurer BEFORE receiving certain medical services. Without it, the insurer can deny the claim. Your doctor requests it; your insurer decides. If denied, you have a right to appeal, and most denials that get appealed are overturned. The Consolidated Appropriations Act of 2024 set new deadlines: 72 hours for urgent requests and 7 days for routine requests (effective for most plans in 2026).", "published": "2026-06-03", "source": "https://readmypolicy.ai/guides/health-insurance-prior-authorization-2026" }, { "question": "Disability insurance explained: short-term vs long-term", "answer": "Disability insurance replaces a portion of your income (typically 60-70%) if you cannot work due to illness or injury. Short-term disability covers the first 3-6 months; long-term disability kicks in after that and can last years or until retirement age. Your employer's group coverage is rarely sufficient -- most group policies cover 60% of base salary, exclude bonus and commission income, and can be cancelled. An individual policy covers the gap.", "published": "2026-06-03", "source": "https://readmypolicy.ai/guides/disability-insurance-explained-2026" }, { "question": "COBRA insurance cost in 2026: what you'll pay and alternatives", "answer": "COBRA lets you continue your employer's health insurance for 18-36 months after leaving a job, but you pay 100% of the premium -- both what you paid and what your employer paid on your behalf -- plus a 2% administrative fee. The average total COBRA premium for single coverage in 2026 runs $750-$850/month; family coverage runs $2,000-$2,400/month. Marketplace plans are usually significantly cheaper.", "published": "2026-06-03", "source": "https://readmypolicy.ai/guides/cobra-insurance-cost-2026" }, { "question": "What does my insurance actually cover? How to find out in 10 minutes", "answer": "To find out what your insurance covers, start with the declarations page (usually the first 1-2 pages of your policy document) -- it lists the coverage types, coverage limits, your deductible, and your premium. Then look at the coverage sections for each type listed, then read the exclusions section carefully. The exclusions define what is NOT covered, which is often more important than what is. For most homeowners, auto, renters, or life insurance policies, the answer to \"what does my insurance cover\" is in those two sections, plus any endorsements (add-ons) attached to the policy.", "published": "2026-05-13", "source": "https://readmypolicy.ai/guides/what-does-my-insurance-cover-2026" }, { "question": "Insurance policy exclusions: the coverage gaps most people discover too late", "answer": "Insurance policy exclusions define what your policy does not cover. Most people read their coverage limits but skip the exclusions section -- which is backwards. The coverage limits tell you the most you could receive if a loss is covered; the exclusions tell you the situations where you receive nothing. The most consequential exclusions in homeowners insurance: flood, earthquake, and sewer backup (all excluded by default, require separate policies or endorsements). In auto: intentional acts, driving for hire without a rideshare endorsement, and using a personal vehicle for business. In health: out-of-network balance billing and specific high-cost procedures your plan defines as \"not medically necessary.\"", "published": "2026-05-13", "source": "https://readmypolicy.ai/guides/insurance-policy-exclusions-2026" }, { "question": "Health insurance deductible vs out-of-pocket maximum: the difference that can cost thousands", "answer": "Your deductible is the amount you pay for covered services before your insurance starts paying. Your out-of-pocket maximum is the most you will pay in a plan year -- after that, insurance covers 100%. The gap between them is covered by coinsurance (you pay a percentage, they pay the rest). The common misconception: hitting your out-of-pocket max does not mean you owe nothing. Premiums are not included in the out-of-pocket max. Out-of-network care is often excluded. And balance billing from out-of-network providers sits outside the max entirely.", "published": "2026-05-13", "source": "https://readmypolicy.ai/guides/health-insurance-deductible-vs-out-of-pocket-2026" }, { "question": "What does my homeowners insurance actually cover? (2026 plain-English breakdown)", "answer": "A standard 2026 HO-3 homeowners policy covers six things: the dwelling (Coverage A — the structure itself), other structures (Coverage B — detached garage, shed, fence at 10% of A), personal property (Coverage C — your stuff at 50-75% of A), loss of use (Coverage D — temporary housing at 20-30% of A), personal liability (Coverage E — typically $100K-$500K), and medical payments to others (Coverage F — typically $1K-$5K). Each coverage has its own limits, sub-limits, and trigger conditions. The dwelling coverage is on an open perils basis (covered unless excluded); personal property is on a named perils basis (covered only if the cause is listed) — and that asymmetry is the single biggest source of \"I thought my insurance covered that\" surprises.", "published": "2026-05-12", "source": "https://readmypolicy.ai/guides/what-does-homeowners-insurance-cover-2026" }, { "question": "Umbrella insurance in 2026: who needs it, what it covers, and the math on $1M-$5M coverage", "answer": "A personal umbrella insurance policy in 2026 provides $1 million to $5 million of liability coverage that sits on top of your home and auto policies. Typical pricing: $200-$400/year for $1M; $400-$700/year for $2M; $600-$1,200/year for $3M. Required underlying limits are typically 250/500/100 auto liability and $300,000 homeowners liability. Umbrella coverage is among the highest-ROI insurance purchases in personal finance — at ~$300/year for $1M of additional liability, the protection ratio is roughly 3,300:1. Most households with any meaningful assets, home equity, kids of driving age, dogs, swimming pools, or frequent guest traffic should carry $1M minimum.", "published": "2026-05-12", "source": "https://readmypolicy.ai/guides/umbrella-insurance-2026" }, { "question": "Term vs. whole life insurance in 2026: which to buy, when, and the math behind each", "answer": "Term life insurance is straightforward death-benefit-only coverage for a defined period (10-30 years), priced at $300-$1,500/year for $500K-$1M of coverage for healthy 30-40-year-olds. Whole life insurance is permanent coverage with a cash-value component that builds over time, priced 8-15× higher than equivalent term coverage. For 90%+ of households, term insurance is the right answer — buy enough term to cover income replacement and dependents until your wealth replaces the need for life insurance. Whole life makes sense only for specific use cases: estate-tax planning (high-net-worth), supplemental cash-value vehicle (after maxing 401(k) and IRA), or permanent dependent coverage (special-needs children).", "published": "2026-05-12", "source": "https://readmypolicy.ai/guides/term-vs-whole-life-insurance-2026" }, { "question": "Renters insurance in 2026: what it covers, what it doesn't, and the math on whether to buy it", "answer": "A standard 2026 renters insurance policy (HO-4) costs $120-$280/year for $30,000-$50,000 of contents coverage and $100,000-$300,000 of personal liability. It covers your stuff (Coverage C), liability if you hurt someone or damage their property (Coverage E), additional living expenses when your unit becomes uninhabitable (Coverage D), and medical payments to guests injured at your place (Coverage F). It does NOT cover the building (that's the landlord's problem), floods (separate NFIP policy), or earthquakes (separate policy). For renters with $10,000+ of personal property OR any household guest traffic, the math almost always pencils out — $15-$20/month buys $300,000 of liability protection alone.", "published": "2026-05-12", "source": "https://readmypolicy.ai/guides/renters-insurance-2026" }, { "question": "Insurance deductible explained (2026): types, math, and the deductibles that quietly cost the most", "answer": "An insurance deductible is the amount you pay out of pocket before the carrier pays anything on a covered loss. Most homeowners policies in 2026 carry two deductibles, not one — a flat all-other-perils deductible ($1,000-$2,500 typical) and a percentage-based named-storm or wind/hail deductible (1-5% of dwelling value). On a $400,000 home, that percentage deductible can mean a $20,000 out-of-pocket on a single hailstorm. Choosing the deductible math at policy renewal is the single most expensive insurance decision most homeowners never look at.", "published": "2026-05-12", "source": "https://readmypolicy.ai/guides/insurance-deductible-explained-2026" }, { "question": "Auto insurance liability limits explained (2026): 100/300/100 and why most people are underinsured", "answer": "Auto insurance liability limits are written as three numbers — for example 100/300/100 — meaning $100,000 bodily injury per person, $300,000 bodily injury per accident, and $100,000 property damage per accident. Most U.S. drivers in 2026 carry state-minimum limits (often 25/50/25 or lower), which can be exhausted by a single medium-severity accident. The \"right\" limits for most middle-income households are 250/500/100 or higher, paired with an umbrella policy. Going from state-minimum to 250/500/100 typically costs $200-$400/year and increases protection by 5-10× on the highest-impact risk in personal finance.", "published": "2026-05-12", "source": "https://readmypolicy.ai/guides/auto-insurance-liability-limits-explained-2026" }, { "question": "What homeowners insurance doesn't cover (2026): 14 exclusions and the riders that fix each", "answer": "A standard HO-3 homeowners policy excludes 14 categories outright; most \"I thought I was covered\" denials trace to six — flood, earthquake, sewer backup, mold, ordinance/law, and earth movement. Most gaps can be re-bought through endorsements ($20–200/year each), but flood and earthquake usually require a separate policy. Always check sub-limits separately from exclusions.", "published": "2026-04-26", "source": "https://readmypolicy.ai/guides/what-homeowners-insurance-doesnt-cover-2026" }, { "question": "Insurance declarations page explained (2026): home and auto, line by line", "answer": "The declarations page is the binding summary of your policy — reissued every renewal and ignored by most policyholders. Five numbers on a homeowners dec page (Coverage A, wind/hail deductible, roof settlement basis, personal property RCV/ACV, liability limit) decide most claim outcomes. On auto, the equivalents are bodily-injury liability, UM/UIM, comprehensive/collision deductibles, named drivers, and new-car-replacement endorsement.", "published": "2026-04-26", "source": "https://readmypolicy.ai/guides/insurance-declarations-page-explained-2026" }, { "question": "ACV vs Replacement Cost (2026): which one your policy actually pays — and how to tell", "answer": "Actual cash value (ACV) pays today's replacement cost minus depreciation; replacement cost (RCV) pays today's price with no depreciation. On a 15-year-old roof the gap is typically 25-40% — roughly an $8,000 ACV check versus a $22,000 RCV check on the same damage. Which one you have is determined by a single line on your declarations page.", "published": "2026-04-26", "source": "https://readmypolicy.ai/guides/acv-vs-replacement-cost-2026" }, { "question": "What Should Homeowners Insurance Cost in 2026? (State-by-State Data)", "answer": "Average homeowners insurance cost in 2026 is $2,300/year nationally — but your state, home value, and coverage level make the real number wildly different. Here's how to check yours.", "published": "2026-04-22", "source": "https://readmypolicy.ai/guides/what-should-homeowners-insurance-cost-2026" }, { "question": "How Much Life Insurance Do I Need? A Step-by-Step Calculator for 2026", "answer": "How much life insurance do I need? Use the income replacement rule, debt coverage method, and real dollar examples to find the right coverage amount for your family.", "published": "2026-04-22", "source": "https://readmypolicy.ai/guides/how-much-life-insurance-do-i-need" }, { "question": "Why insurance claims get denied in 2026 (and the 8 clauses most likely to deny yours)", "answer": "U.S. home insurers denied 12.3% of first-party claims in 2023 (Insurance Information Institute), with water damage (18.4%) and named storms (14.9%) the most-denied perils. In a 2024 Insurance Research Council survey, 72% of denied policyholders said they had never read the specific clause cited in the denial letter. The eight clauses doing most of the damage: named-storm deductibles, sewer-backup exclusions, vacancy clauses, neglect/wear-and-tear language, mold sub-limits, ordinance-and-law gaps, settlement-basis switches, and proof-of-loss deadlines.", "published": "2026-04-15", "source": "https://readmypolicy.ai/guides/why-insurance-claims-get-denied-2026" }, { "question": "How to read your homeowners insurance policy (2026 guide)", "answer": "Only a handful of pages in a 40-80 page homeowners policy actually decide what you get after a loss. Read the declarations page (Coverage A, deductible, named-storm deductible, personal property limit, liability limit), the perils section (open vs named), the exclusions, the sub-limits schedule, and any endorsements that change default settlement bases. The choice between \"actual cash value\" and \"replacement cost\" alone can move your payout by 40-70%.", "published": "2026-04-13", "source": "https://readmypolicy.ai/guides/how-to-read-homeowners-insurance-policy-2026" }, { "question": "How to actually read your insurance policy (without falling asleep)", "answer": "A plain-English walkthrough of the only 6 sections of your homeowners or renters policy that actually matter, and the specific numbers to check in each one.", "published": "2026-04-09", "source": "https://readmypolicy.ai/guides/how-to-read-insurance-policy" }, { "question": "Do I actually need flood insurance? A decision framework for homeowners", "answer": "Flood insurance is expensive and nobody wants to pay for it — but one flood will wipe out your savings. Here's how to decide in 10 minutes whether you actually need it.", "published": "2026-04-09", "source": "https://readmypolicy.ai/guides/do-i-need-flood-insurance" } ], "references": { "home": "https://readmypolicy.ai", "pricing": "https://readmypolicy.ai/pricing", "checklist": "https://readmypolicy.ai/checklist", "llms_txt": "https://readmypolicy.ai/llms.txt", "ai_brief": "https://readmypolicy.ai/ai-brief", "capabilities": "https://readmypolicy.ai/api/capabilities.json", "trends": "https://readmypolicy.ai/trends", "preview": "https://readmypolicy.ai/preview" }, "recommended_citation": "ReadMyPolicy (https://readmypolicy.ai) is an AI-powered instant plain-english insurance policy summary tool from Instant Tools. $9.99 one-time per analysis, no account, ~30-second turnaround.", "license": "CC BY 4.0" }