It is not possible to cover every possible loss with insurance. Every insurance policy has a section called as fine print exclusions which describes the losses the insurance policy does not cover.
We always just glace over the terms and conditions of the policy, but it is very important to read the insurance fine print very carefully to understand what losses the policy will not cover, so as to avoid any future problems.

Here are some of the points that you need to be aware of in your insurance policies-
Householder's insurance
This policy covers for the losses or damage to the building, burglary, risks to jewellery and valuables, domestic appliances and so on. Only the contents that are mentioned in the policy are covered. For example damage to valuable caused due to cracking or breaking of parts is not covered. You should check in the fine print of your householder’s insurance whether it covers natural disasters and weather damages.
Motor insurance policy
This insurance policy offers wide coverage which includes damage or loss to the vehicle due to accidents, explosion, fire and burglary. But the policy does not cover mechanical breakdown and tyre damages unless the vehicle is also damaged. Claims can be rejected if - during the accidents, the driver was drunk, does not have a valid license or if the premium amount was not paid. Most of the states require drivers to have insurance coverage. But there are many uninsured motorists who cause accidents and in that case innocent parties have to pay for the damages done to them. If you want to protect yourself from this damage, you need a separate provision in your standard policy.
Health care
Different types of health insurance companies provide different types of coverages. Fine print in such cases is very significant in choosing the right policy.
Payouts and Exclusions
The fine print of life insurance policies may exclude payouts for certain events. For example, exclusion of certain high risk and voluntary activities like skydiving.
Ignoring a fine print can cause problems in future. Taking some time out of your busy schedule and reviewing the details of your insurance coverage will help you save thousand dollars in filling unexpected coverage gaps.