When you purchase an automobile insurance policy, renew your policy, or make any changes to your policy, the insurer will give you a document called a “Declarations Page.” The Declarations Page identifi es the kinds and amounts of coverage you have and how much it will cost you. It is very important that you review the Declarations Page as soon as you get it to be sure it is accurate and that you know what your policy will cover. If you see any incorrect or missing information, you should contact your insurance producer or insurer immediately. The following example may make it easier to help understand your Declarations Page and your coverage.
1 - Policy Period When coverage begins and ends.
2 - Policy Limits When coverage begins and ends. The most your policy will pay for each claim that is filed.
3 - Deductible What you pay towards the cost to repair or replace your vehicle for a covered claim.
4 - Optional Coverage Optional coverage sometimes may be purchased to give you more protection. Ask your insurance producer or insurer about any optional coverage available.
5 - Policy Premium The amount you pay for insurance coverage for the policy period.
6 - Discounts Your company may reduce your premium if you meet conditions that are set by the company. For example, if you have a good driving record, your car has antitheft devices, or you have your automobile and homeowners policies with the same company, your premium may be reduced. Ask to make sure you are receiving all the discounts for which you qualify.
