Get To Know Your Insurance Policy

Everyone knows that in order to legally drive, you have to have an auto insurance policy, providing motorists with the financial protection they need in the event of an accident. But if you were to ask these same people if they knew what their coverage included, you’re almost certain to elicit more than a few furrowed brows and quizzical stares.

In some respects, not knowing the contents of an auto insurance policy isn’t too unusual, given the fact that policies – particularly the comprehensive variety – include a wide variety of protections that can help spare motorists from financial ruin due to sustained damages. And while it may not be necessary to know each and every detail that makes up an insurance plan, it’s essential that you know the basics. Otherwise, you may find yourself in a situation where you think you’re covered – when in reality, you may be forced to come up with expenses out of pocket.

Here are a few simple ways of getting to know your policy better in 2016:

Read the declarations page
Whoever said, “You can’t judge a book by its cover,” probably wasn’t in the insurance business. After all, that’s what the declarations page is all about. This portion of a policy lays out the “key ingredients” of coverage, like what the policy limits are, how long coverage is in effect for, the policyholder’s first and last name as well as the owner’s address. Also known as the “Dec page,” it’s usually found in the front portion, near to the top.

Reach out to your agent
Insurance agents are in the business of providing coverage to consumers, whether it be auto, renters insurance, homeowners insurance or other kinds. That much is certain. But they’re also there to make insurance more relatable, serving as the intermediary between the policyholder and the insurance supplier. In other words, they seek to make the consumer’s life easier. If you’re in anyway unsure of what your plan includes, get in touch with your local agent. Insurance professionals will guide you in the right direction, whether in person, online or over the phone.

Go online
The Internet is a treasure trove of information, literally only a few button clicks away. Websites like the Insurance Information Institute, Property Casualty Insurers Association of America and National Association of Insurance Commissioners are some of the better online-based destinations that are teeming with resources that can help you hone your coverage knowledge.

With 2015 in the rearview mirror and 2016 up ahead, make this the year that you get more acquainted with your auto insurance policy – it’s a “right” turn you can’t afford to miss.