Understanding Your Car Insurance Declarations Page
Auto insurance is the most widely used form of personal insurance. Most states require drivers to purchase or be covered under an auto insurance policy to drive legally. Auto insurance can give drivers peace of mind by having certain risks covered in case of an accident.
Knowing what your insurance policy does and doesn’t cover is essential. To help with this process, you can review your car insurance’s declarations page. This page details a basic overview of your policy. Keep in mind that if you are injured in an auto accident, you should speak to a car accident attorney before calling your insurance company.
What is Your Car Insurance Declarations Page?
Your car insurance declarations page is the first page of your auto insurance policy. The best way to think of your declarations page is that it’s a summary of your auto policy, detailing the following information:
Your car insurance premiums and deductibles
The type of coverage your policy has
Policy term information and other general information
What Are Car Insurance Premiums and Deductibles?
Car insurance premiums are the monthly amount you need to pay to keep your insurance valid. A few factors go into determining your premiums:
Personal characteristics like age, location, and gender
Driving history, including traffic violations
The type of car you drive and how often you drive
How much you need in coverage
Deductibles, on the other hand, cover the amount you need to pay out of pocket when you file an insurance claim. After the deductible is met, the insurance company pays the rest. Your deductible should be listed on your declarations page next to your car coverage types. Common examples of deductibles include $100, $500, and $1,000.
What Is Your Car Insurance Coverage?
Under a car insurance policy, different amounts of coverage are offered for different types of damages. Your declarations page will list out all the coverage you have available for each type of damage covered under your policy. This is the maximum amount your insurance company may owe you in case of an accident.
There are five primary forms of auto accident coverage:
Collision coverage
Comprehensive coverage
Liability insurance
Underinsured/uninsured motorist coverage
Gap insurance
For example, if you have $200,000 available for for collision coverage, that’s the limit (or maximum amount) that your insurance company is obligated to pay, even if your collision cost you more money than that maximum amount. After the insurance company has paid the maximum limit, you’ll be required to pay the rest out of pocket.
Policy Term and Other General Information
Your declarations page will also contain general information about your policy. Thedetails and topics covered on your page will vary depending on your spciefic coverage, provider, and location, but common information is likely to include:
Your policy’s start and end date
Names of relevant parties such as who’s insured or excluded, the agent from your insurance company, and the lienholder
Details about your vehicle like the make and model, manufacture date, and its Vehicle Identification Number (VIN)
The Law Office of Bobby Garcia Can Help You Understand Your Policy
Reading your car insurance declarations can help you better understand your policy and the coverage available in case you’re injured in an accident. However, if you’re injured an automobile accident, consider seeking help from an Edinburg personal injury attorney to fight for the coverage that you need.
At Bobby Garcia, we have experienced car accident attorneys that can help you review your policy and negotiate with insurance agents or in a court of law. Reach out to us today to see how we can help. you get justice