WEDNESDAY, JUNE 14, 2023
As a policyholder, understanding the specifics of your auto insurance is essential. An auto insurance policy is a contract, and some of the wording can be difficult to interpret. Understanding the basics of your coverage and being able to review it is necessary to help ensure you’re financially protected against specific incidents.
The Declarations Page
The declarations page is often the first page of auto insurance policies and contains an overview of the coverage (e.g., the who, where, when and what of the policy). Upon filing an insurance claim, the declarations page is commonly the first thing an insurance provider will review.
Who?
The declarations page will usually have the name of the policyholder and the insured(s). The information of this person or these people should accurately reflect the information listed when the policyholder first applied for auto insurance. Insurance providers commonly make underwriting decisions based on the person(s) they are requested to insure. They maintain the policyholder’s underwriting records through a policy number, which they may need to verify coverage and process claims. 
Where?
The address of the policyholder plays a significant factor in determining auto insurance coverage. It’s essential to update the address listed in your policy if you move. This is because specific locations are at higher risk for car accidents than others. An inaccurate address can lead to claim issues if not appropriately listed on the declarations page.
When?
The policy period, or when the policy is in effect, is typically included on a declarations page. Auto insurance coverage is often provided on an annual or bi-annual basis. It is essential to renew coverage before it expires to help ensure adequate financial protection if an accident occurs.
What?
The declarations page will generally list the insured vehicles and schedule of coverage in the auto insurance policy. This often includes the vehicle identification number(s) and model(s) of the car(s) for which you requested coverage. Additionally, policy limits for coverages (e.g., liability, collision and comprehensive coverage) will commonly be found on the declarations page, as well as applicable deductibles and endorsements.
It’s Important to Know the Details of Your Personal Auto Insurance Policy
Your declarations page is an excellent place to begin acquiring a basic understanding of your policy, and it may contain information beyond what is listed above. Additionally, reviewing your auto insurance policy as soon as you purchase coverage is essential to help ensure its accuracy.
Contact our agents for more information on auto insurance.
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