How to Read a Car Insurance Policy
Some people prefer to have an insurance agent they can call 24/7 about their car insurance. Agents can be helpful inasmuch as they can explain to you anything that you do not understand in your policy. Other than that, you can actually make your life easier and just check the internet.
Insurance companies have turned to "virtual agents" in order cut back on costs. Virtual agents is actually insurance quotes that they post in the internet which is much like a reference book where you can find answers to your questions about your car insurance.You can actually understand your insurance policy even without an agent. Although your insurance policy is a technical document, some insurance policies have made it simple for you to understand and posted it on the internet for an easy access. Let us try to discuss it page by page. Your policy will include a Declaration Page where you can find your name, the duration of your insurance coverage and how much you should pay for it (premium). It will also describe the coverage of the insurance and the maximum amount that your insurance company will pay for each coverage when you make a claim.
Your insurance policy will also include an Insuring Agreement. This page is the main part of the policy and will contain a description of what your insurance company will do in exchange for the amounts that you are paying them. It will also identify who is covered by the insurance. Aside from the name mentioned in the Declaration Page, it will also mention the residents belonging to the same household and the name/s of the person/s you have given permission to for the use of your car. Everything will be specified and defined in order that no misunderstandings will arise. Read it carefully and take note of what will be excluded on each coverage.
The last section of your policy will be the Conditions of the Policy. This page details your responsibility when you make a claim for your insurance. It specifies how much time you are given to report an accident, for instance, and all the documents that you have to submit to the insurance company. You will also find in this page the terms by which you can cancel your policy. These terms are for both you and your insurance company. You are allowed to cancel anytime you are dissatisfied with the services of the insurance company but your insurance company can only cancel under certain conditions and after they have given you an advanced notice. Article Source: http://EzineArticles.com/2774594