What are coverage gaps and how do you find them?
A coverage gap may exist when a need is not covered or the insured amount is insufficient. Assessing it requires the terms and your actual circumstances. With Family, PolicyWallet flags specific document findings for review; it does not certify complete protection.
Which points are worth checking?
Start with cover, exclusions and amounts. The following are examples to review, not a ranking of the most common problems in Greece.
- Earthquake not covered: in many mortgage-linked policies earthquake is an optional extension that was never added.
- Building underinsurance: reconstruction costs rose with inflation, but the insured sum stayed where it was set years ago.
- High health deductible: a €1,500 deductible means most incidents are paid entirely out of pocket.
- Roadside assistance and own damage: assumed by default in motor policies but often missing from basic packages.
- Overlaps: two policies paying for the same risk (e.g., travel cover on a card and in a standalone policy) — wasted money.
What is the average rule and why does it matter?
Example: a home costs €200,000 to rebuild but is insured for €100,000, half that amount. If the average clause applies, a €20,000 loss may result in a €10,000 payout before other deductions. This is underinsurance. Check whether the clause applies to your cover and discuss the insured amount with your insurance advisor.
How do you find coverage gaps step by step?
A manual check takes three steps: first, read the coverage table and note what is actually included — not what you assume. Second, read the exclusions: that is where most gaps hide. Third, compare insured sums against today's values (reconstruction, contents, income). PolicyWallet automates all three: you upload the policy PDFs and the AI reads coverages and exclusions — and, on the Family plan, cross-checks them and flags gaps and overlaps in plain language.
Frequently asked questions
How often should I check for coverage gaps?
At least once a year, before each renewal, and additionally after every major life change: moving, renovation, a new family member, a new vehicle, or a job change.
Does a coverage gap mean my agent failed me?
Not necessarily. Needs change faster than policies do. A neutral analysis tool gives you a clear picture so the conversation with your agent starts from concrete data.
Can the AI read any insurance policy?
Yes — as long as you have the policy PDF, the analysis works regardless of insurer or intermediary, across all major lines: motor, home, health, group, cyber, and pet.