A Consumer’s Guide to: Auto Insurance Choosing and Using Your Auto Insurance Coverage
Understanding your auto insurance policy The 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.