Auto Insurance

The declarations/information page includes the policy number, the effective dates, the details of the cars covered on the policy, the lienholder (if you have a loan on the car), the coverages, coverage limits, your premium, risk classifications and any discounts or surcharges. It is also going to list where the car is garaged and contact details for your company and agent, if you have one. The coverage names, limits and descriptions will vary depending on the state. 

The personal auto policy or policy form. This will be several pages long and will detail in specific language what is covered, how those coverages are defined, the conditions of the policy and if there are any exclusions. This may also include state exception pages that revise/change/modify the policy form. Some companies customize their policy forms to match the coverages in a specific policy, while others list all available coverages. Your declarations/information page details which coverages were purchased. At least one copy of an insurance card should be included as proof of coverage. Keep this in the car. 

• Personal Information – Verify the address listed on the policy is correct. Parking your car in a garage, or even parking it off the street can mean lower premiums. Notify your agent if there has been parking changes since the policy was written. 

• Year, Make, Model, Vehicle Identification Number (VIN) – How much you pay is heavily based on the car you drive so make sure this information is accurate. If your declarations or information page is wrong, it could also cause problems if you file a claim. Do not get caught by increases when trading in your car. Call your agent for a quote before you buy. 

• Lienholder Information – If you obtained a loan to purchase your car, the lienholder will likely require that it be listed on the policy. If you have paid off the loan, call your agent to have the lienholder removed. Your agent or insurance company may ask for a copy of the new title (without the lienholder listed) or other proof you paid off the loan. 

• Coverages – For an overview of your coverage choices go to InsureUonline.org and click on your life situation. The auto tab includes explanations of the different coverages and some tips on evaluating your auto insurance needs. You can also download the NAIC Consumer’s Guide to Auto Insurance here 

• Collision – The higher your deductible, the lower your premium. However, since this is the amount you have to pay if the car is damaged in an accident, make sure you will be comfortable paying the amount. 

• Comprehensive – This is sometimes referred to as “Other Than Collision” coverage. It is possible that removing the comprehensive and/or collision coverage from a policy could save some money. Before you decide to cancel comprehensive coverage weigh the value of the car and the cost to replace or repair it against what you would save in premium costs. 

• Premium – The amount of premium you are charged generally depends on a number of factors. You can find out more about the factors your company may use to determine your premium here. If you have questions about how your insurer determines your rates and what steps you can take to improve your risk profile, contact your insurance agent or insurer. 

• Discounts – When looking at your declarations or information page, you may see discounts listed at the bottom of the page. Typically, the company has included any discounts in the premium amount listed. Check the list of discounts to see what was included in your overall premium. Check here for a list of discounts typically available. If you think you are eligible for a discount you are not receiving, review with your insurance agent or insurer. 

• Agent Contact Details – If you have an agent, their name and contact information will likely be listed on your policy. You can always contact your insurance company directly if you have any questions.