Definition - What does Caveat Emptor mean?
Caveat emptor is a Latin phrase that means "let the buyer beware." This principle is often used to remove the liability for the quality of a good or service from the buyer or seller.
Insuranceopedia explains Caveat Emptor
Caveat emptor can come into play when the seller includes a contract provision such as "buy at your own risk" or "use at your own risk." With such provisions, the seller cannot be held liable for the quality of the product and the buyer cannot sue for quality-related losses. Although the buyer cannot sue, they can still file an insurance claim if it is an insured loss.
How Well Do You Know Your Life Insurance?
The more you know about life insurance, the better prepared you are to find the best coverage for you.
Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.