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What does a car insurance policy look like?

There are numerous parts to an automobile insurance policy. Familiarizing yourself with the terms and content of your policy will help you locate a section quickly if you need to find it in the future. The first aspect of your policy will be the heading with the company name on it. This is the name of the automobile insurance company that you have the contract with. If you purchase your policy through a broker, the broker's name may be on the contract as well. Make certain you know the difference between the two. It is illegal for a brokerage firm to use the phrase "insurance company" in their name if they do actually offer the service themselves. The words "services", "marketing", and "agency" can serve as a hallmark to identify the brokerage firm's name from that of the actual insurance company.  

The next two portions of the policy you will see will be the policy number and the policy period or term of your coverage. The policy number is a distinctly unique number for your policy. It helps to identify your policy from that of other consumers the company has. The policy number can be a combination of letters and numbers. This will change each time you purchase a new policy or renew your coverage. The policy term identifies the dates through which your policy is valid. Traditional policies are purchased in blocks of three, six, or twelve months worth of coverage. In order to determine more acute specifics, like the time your policy started on a certain day, you would have to request a "letter of experience" from your vehicle insurance company. That will have an exact breakdown of time.

Your contact information and your vehicle description will also be on the policy. Your contact information includes the address of your place of residence and your phone number. If multiple drivers are included on your policy, their various addresses will be included on the policy if they differ from yours. The vehicle description will include the year, make, and model of your car. Additional information will include the vehicle's VIN number. A VIN number works to identify a car in a similar manner that a social security number identifies a person. It can be found under the window of the driver side of your vehicle, close to the hood. A special mark may be included next to your vehicle's information, marking whether or not the car is deemed to be a high risk vehicle. This is common among higher end luxury cars or sports cars. 

The most important section of your policy is the one that includes details about your premiums and the specifics of the coverage you have chosen. Identifying this section and educating yourself about its content will be beneficial to you. It will identify, in dollar amounts, what the limits of your coverage are. Other aspects of your policy will include your endorsements, the loss payee, the garaging address, and the signature of your insurance agent. You should familiarize yourself with all of these sections of your policy. 

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