Importance of Auto Insurance Declarations Page

When it comes to your auto insurance there are certain parts of your policy that are more important than others. The most important part of your auto insurance policy will be the declarations page because it declares your intentions and your insurance company's. This is the page in which you both say what is on the line, what coverage is necessary and has been granted. Here is what you may find on an auto insurance declarations page.

1. The name of the insurance company will always appear on the auto insurance declarations page. This will be the full and legal name of the business instead of any commercial name that may exist.
2. Your policy number will be written clearly and legibly on your auto insurance policy so there are no ambiguities. This number is similar to your social security number in its importance to your auto insurance policy.
3. The effective date and expiration date of your policy will also be printed on the declarations page. This is the first instance of your policy being up for renewal that you must be aware of. If you set up an automatic payment on your policy your policy will likely automatically renew.
4. The "named insured" is usually the person who started the policy or the person who is the contact person for the policy. The named insured's name, address and phone number will likely be printed on the declarations page to show that it was agreed upon as the best way to contact the insured at policy inception.
5. The year, make, model and VIN (Vehicle Identification Number) will all be printed on the declaration page for the vehicle or vehicles being covered. This is very important as all of it will be scrutinized if you ever file a claim on your policy.
6. Possibly the most important part of the declarations page is the printing of the coverage that you have selected for the vehicle or vehicles. It is very important that you read it over before signing for the start of the policy as this is what is being stated as your coverage. After this it will be very difficult for you to claim anything else was elected at the time.
7. Directly after, or under, the policy coverage listed on the declarations page will be the premium for each coverage on each vehicle. It will be listed out separately and then totaled up to show you exactly what you will be paying during the policy period for the coverage.
8. Loss Payee, Lien holder, Additional Interest or Additional Insured (usually the financer of your vehicle) will be listed. If your vehicle is ever repossessed this will be very important to the lien holder that repossesses the vehicle.
9. If you add any special coverage to your policy that requires a special page be added it will be called an "endorsement". This would be something like adding rental coverage or coverage for something extra like a trailer or camper shell.