What does First Dollar Coverage mean?

First Dollar Coverage is a stipulation pertaining to life insurance policies. By choosing this option, you will benefit from entire compensation in case the event for which you are insured occurs. Generally you won’t have to pay a deductible for this option.

First Dollar Coverage explained

One condition which one has to agree to is paying much more expensive premiums in order to benefit from First Dollar Coverage. Insurance policies which might involve first dollar coverage are the car insurances and the homeowners’ insurance. The good part of such an insurance policy is indeed the fact that in case an event occurs you don’t have to worry about any extra expenses, as you are fully covered by the insurance company.