Everyone wants affordable car insurance but nobody wants to pay
the price. That may not have made much sense to you but the
insurance buyer has to be better informed. There has to be some
time spent on educating yourself enough to make intelligent
decisions about your next insurance purchase. Too many folks
avoid all responsibility when it comes to buying car insurance.
You do not need an insurance course to understand the
fundamentals involved in rating car insurance. Look at the
declarations page on you car insurance and you will find all
that you need to know.
The Declarations Page
1. Policy Period - This is the specific time period that the
policy is effective. Some car insurance policies have an annual
renewal and others have a six month renewal. Do not shop for car
insurance with a declarations page that shows that your policy
period has expired. That could cause you to be placed into a
sub-standard carrier. Shop at least one month before your
insurance is ready to expire.
2. Vehicles - Your vehicles will affect your physical damage
rate. When shopping, make sure that you give the quoting company
the vehicle identification number of all of your vehicles. This
is usually on your declarations page.
3. Drivers in Household - Every resident relative with a
driver's license should be listed on the policy unless they have
other insurance.
4. Liability Limits - These are the limits for bodily injury and
property damage insurance. This is very important coverage and
not a good place to cut costs if you are a property owner. This
portion of your policy pays benefits to the party that you have
may have injured in an auto accident. It also pays for the
damage to their vehicle.
5. Physical Damage - This is your collision and comprehensive
benefit that you see on your declarations page. This is coverage
for your automobiles. Your deductible selection will raise or
lower the rate.
These are some of the many policy benefits that you will find on
your declarations page. Ask your insurance company about
discounts and tort option. Learn all that you can and you can
help make your car insurance more affordable.
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