Whether you’re purchasing, upgrading, or replacing an insurance policy, it pays to understand your contract. It can be difficult to understand the important details and functions, but once you really understand what’s inside it, you’ll be better prepared to make smart decisions especially in contract signing.
What to know before you sign an Auto Insurance Policy
An auto insurance policy is a contract between you, the insurance provider, and the car insurance company. Through this, you will be able to understand the coverage and the exclusions of your policy to lessen possible problems in the future, especially with claims.
The 5 parts of a Car Insurance Contract
1.) Declaration page (AKA Dec Page) – This is your personal profile section where it has your personal information such as your name, age, address, the policy number, the vehicle’s model and identification number, and all the driver's names in your household. Also, your coverage limits, the validity period of your policy, and deductibles.
2.) Insuring Agreement – This describes which type of insurance coverage policy you have as well as the list of your coverage limits and deductibles.
3.) Exclusions – This page will list the things that are not covered by your policy.
4.) Conditions – This section educates you on how to file your claims and the proper procedures to resolve disputes. It also makes emphasis on your responsibility as an insurance holder, as well as your insurance company’s responsibilities.
5.) Definitions – This section defines the terms used in the policies as well as explaining your rights.
Car insurance Contract Signing Tips
· If no additional information is required, let the agent draw a line through any excess blank space.
· Don’t sign if the contract denies you the right to sue the insurance company, since this is the only power that you will have against your provider and you don’t want to lose that.
· If your car is new, you have to think twice about signing if the policy contract states “aftermarket parts may be used for any needed car repairs.”
· Make sure you aren’t buying coverage that you don’t need, but also don’t leave yourself vulnerable to being sued by not buying enough coverage.
· Make sure that you see ALL the list of coverage that you wanted to be included in your policy. It is best if you would have it reviewed and checked.
· Review the deductibles, vehicle information, and coverage limits and make sure they match the numbers you’ve agreed upon.
You will be confident in contract signing once you fully understand and you are knowledgeable about your policy. Therefore, it is best to take your time when reading and understanding your contract before signing it, for you are obligated to follow its terms. And you don’t want to be in a trouble in the end due to negligence.
To help you better understand auto insurance policies, give us a call at (770) 413-0807 or visit our office today. Cornerstone Insurance Agency has the knowledgeable and experienced staff helping to provide maximum benefit and protection to our clients. Get a free quote from us by clicking here.
An auto insurance policy is a contract between you, the insurance provider, and the car insurance company. Through this, you will be able to understand the coverage and the exclusions of your policy to lessen possible problems in the future, especially with claims.
The 5 parts of a Car Insurance Contract
1.) Declaration page (AKA Dec Page) – This is your personal profile section where it has your personal information such as your name, age, address, the policy number, the vehicle’s model and identification number, and all the driver's names in your household. Also, your coverage limits, the validity period of your policy, and deductibles.
2.) Insuring Agreement – This describes which type of insurance coverage policy you have as well as the list of your coverage limits and deductibles.
3.) Exclusions – This page will list the things that are not covered by your policy.
4.) Conditions – This section educates you on how to file your claims and the proper procedures to resolve disputes. It also makes emphasis on your responsibility as an insurance holder, as well as your insurance company’s responsibilities.
5.) Definitions – This section defines the terms used in the policies as well as explaining your rights.
Car insurance Contract Signing Tips
· If no additional information is required, let the agent draw a line through any excess blank space.
· Don’t sign if the contract denies you the right to sue the insurance company, since this is the only power that you will have against your provider and you don’t want to lose that.
· If your car is new, you have to think twice about signing if the policy contract states “aftermarket parts may be used for any needed car repairs.”
· Make sure you aren’t buying coverage that you don’t need, but also don’t leave yourself vulnerable to being sued by not buying enough coverage.
· Make sure that you see ALL the list of coverage that you wanted to be included in your policy. It is best if you would have it reviewed and checked.
· Review the deductibles, vehicle information, and coverage limits and make sure they match the numbers you’ve agreed upon.
You will be confident in contract signing once you fully understand and you are knowledgeable about your policy. Therefore, it is best to take your time when reading and understanding your contract before signing it, for you are obligated to follow its terms. And you don’t want to be in a trouble in the end due to negligence.
To help you better understand auto insurance policies, give us a call at (770) 413-0807 or visit our office today. Cornerstone Insurance Agency has the knowledgeable and experienced staff helping to provide maximum benefit and protection to our clients. Get a free quote from us by clicking here.
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