How Do I Find Out What My Car Insurance Covers?

After a while people may like to refresh their memories. Then, they will find the most important details of their auto insurance easily on the declaration (dec) page, which is usually the first page of their policy documents. Having a look at it will quickly reveal the information needed. Motorists can find out if they need more coverage or it is time to shop around for a better policy and cheaper price.

Reviewing this page, updating details and getting fresh quotes can reduce premiums. It is also handy to have this document ready when you are looking for alternative quotes to make sure you arrange at least the same or better coverage. Almost all the details you need to fill a new proposal form will be presented on this page.

Here are the details you can find on a vehicle insurance declaration page;

·      Insurance company; name, contact details, (agent) and policy number.

·      Policyholders (you); name and address. Personal details like marital status, home ownership, credit score, driving and claim details are usually written further down the page.

·      Policy period; effective dates and renewal date.

·      Insured drivers; their names. Their driving records are mentioned usually further down.

·      Insured vehicles; make, model and Vehicle Identification Number (VIN).

·      Schedule of coverage; a list of the covers with their limits, deductibles and premiums applicable to them. If there are more than one car, coverage and premiums applied listed for each one of them, as well as the total premium at the end. You don’t have the coverage If you cannot find it listed there.

·      Discounts; the ones applied to the policy are listed. Some companies list the percentage of discounts as well.

·      Surcharges; for things like speeding tickets or claims will be listed.

·      Riders; on exclusions or special endorsements are clearly written. These are the deviations or improvements on standard policy terms.

·      Additional information; often the name of the lienholder is written when there is a loan on the car. Yearly mileage may be mentioned, especially if a lower mileage is declared. Excluded drivers are mentioned when there is a named driver exclusion.

Declaration page summarizes the essential information conveniently for policyholders that makes it easier to notice mistakes, omissions and the policy’s shortcomings. Motorists could quickly see the type of action they need to take. For example, they can see that they need to improve Liability coverage limits since they are better off now or remove a driver who isn’t living at the property any more.

Declaration page is clearly marked and usually the first page but people should still check its back and see if there is a second page. Companies send a new page when there is any change in details and at each renewal. It is important to follow it up if it isn’t received and check for any mistakes because auto insurers will not accept mistakes or omissions. If it isn’t there, there won’t be coverage.

Declaration page clearly states what coverage is bought and what is declined and is the most important page in a policy document. But motorists should have a quick look at the definitions page as well because it defines what and who is insured and how. So, motorists should look at definitions for further clarification. For example, it explains permissive use drivers. If it says things like “insured drivers only”, you have a restrictive policy that limits who can drive the car and that is why it matters to check.

Many motorists report that they got better quotes even from their current vehicle insurance companies when they updated their details. Things change very quickly and in time people forget about them. So, it is always a good idea to have a look at the declaration page every so often or at least at each renewal and see if it is time to update it.

Also, it may be a good time to start shopping around as well and this document would be very handy. For example, reviewing it makes sure that you don’t miss additional coverage you arranged earlier when you are buying a new policy with a new insurer. Furthermore, it allows you to offer the exact same details to each company when getting quotes and this eliminates confusion when comparing prices.