30
Jan
Split risk in insurance can be a complex concept, but understanding it is essential for policyholders looking to protect themselves fully. Here are six critical things you need to know about split risk in insurance: 1. Split Risk Refers to Multiple Coverage Components Split risk occurs when an insurance policy divides coverage into different types, each covering a specific aspect of risk. For instance, in auto insurance, the policy might separate coverage for physical damage, liability, and personal injury. It’s essential to understand each component to ensure complete protection. 2. It Can Impact Your Claims When you have split risk…