Understanding your auto insurance policy

Your insurance policy is a contract between you and your insurance company. It spells out exactly what the company agrees to do in exchange for the premium that you pay. This contract is divided into two sections: a declarations page and the policy itself.

The declarations page
This section of the policy includes basic details of the agreement. It is important that you review this page to make sure all the information is correct and all the coverages you requested are included. The declarations page includes:

• Name of the insurance company
• Name(s) of the policyholder(s)
• Policy number
• Policy period
• Description of the vehicle(s) insured
• Coverages purchased
• Limits of liability and deductibles purchased
• Premium charge for each coverage
• List of forms that are a part of the policy

The policy
The second part of your insurance contract is the policy itself. This includes:

• Insuring agreement
• Definitions
• When and where coverage applies
• Conditions if the vehicle is financed
• General conditions
• Mutual conditions
• Exceptions and endorsements of the policy

Make sure you review your declarations page to verify that your policy includes the types and amounts of coverage you requested.

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