Own-Occupation Policy
Categories: Real Estate
You have a policy: you only sleep in your own bed at night. No matter how much fun you’re having, you always head home at the end of the night. One kind of own-occupancy policy.
Another kind has to do with insurance. This type of policy covers somebody who can no longer do the job they were trained to do. It’s like a specialized workman's compensation policy. If you get injured in a way that forces you to give up your chosen career, the policy will pay you damages.
You're a famous foot model. You get all the foot powder and toe-nail painting ads. You get an own-occupation policy for your feet. A couple weeks later, waiting on the corner for your Uber, a bike messenger rides over your feet. Your toes get mangled. You're not disabled...but your once beautiful feet are now scarred and (horror of horrors) regular-looking. Your days as a foot model are over.
Luckily, you have the own-occupancy policy. You can file a claim and get back some of your lost wages from the photo shoots that got cancelled.
