Understanding Your Auto Insurance Declaration Page

When you receive you insurance policy through the mail, your insurance declaration page is going to be the first page that you see. This is the page that has a quick snapshot of your information and what the insurance policy is all about. It is important to remember that this is the exact information that your policy will operate on. If there are any problems, or mistakes, associated with this information, this is what people will look at first. For people who are new to car insurance, or just have not really taken a hard look at it, it can be a little confusing. Here is a short guide to help you understand the insurance declaration page. 

Full Disclosure of Policy

Your insurance declaration page gives you a quick look at your auto insurance coverage. This is where everything about your policy is listed. This means the name of the insurance company, policy number, coverage, deductibles, cost of your coverage, supplemental insurance, the vehicles insured and the people insured to drive them. 

Check for Mistakes

Even if you do not fully understand everything that is on this declaration page you should read it over very carefully to make sure there are no mistakes. If you were quoted something at the time of purchasing your auto insurance, it should all match up with this page. If not, you should immediately call your insurance provider. For example, if you were quoted that your policy will cover $300,000 in personal injury, but the declaration page says $100,000 that is what you are going be covered for. It does not matter what it says anywhere else. Do not rely on just a phone call either. Write directly to the company and point out anything that is wrong with this page. 

Policy Information

One of the pieces of information that is included on this insurance declaration page is your policy information. Your policy number and the amount of coverage you have. It will state the individual VIN of each vehicle that is covered. It will also state the breakdown of coverage as far as how much you are insured for. Always double check this information to make sure you are adequately covered. 

Car Insurance Deductible

If you are not sure what you are going to have to pay out of pocket for claims on your insurance policy, you will also find this information listed on the declaration page. This is under the portion where your deductible amount is listed. This could be anywhere from $50 to $500 depending on the amount of liability you have. 

Policy Payment Dates and Renewals

Instead of having to look through the entire insurance package you can find out when you payments are due each month, or when your policy is up for renewal. Some insurance companies do not send out automatic reminders, so this information is invaluable to ensure that your coverage is not interrupted because of non payment, or non renewal. 

Name and Address

This might not seem like an important piece of information, but it must be correct. If the address is not the same as the one you are currently living at, there might be a problem when you file a claim. Just as your insurance company must be honest about the policy you are buying, you must also be honest about the information you give them.