Everyone wants cheap auto insurance, but no one wants to pay for it. That may not have made a lot of sense to you, but the person who buys insurance needs to know more. You have to take the time to learn enough about insurance to be able to make smart decisions about your next purchase. When it comes to getting car insurance, too many people try to avoid taking any responsibility. You don't need to take a course in insurance to understand how to rate car insurance. If you look at the declarations page of your car insurance, you will find all the information you need.
The Page of Declarations
- Damage to the body This is what your declarations page says about your collision and comprehensive coverage. This is protection for your cars. Depending on which deductible you choose, the rate will go up or down.
- Family members who drive Everyone who lives with you and has a driver's licence should be on the policy, unless they already have coverage elsewhere.
- Limits on liability These are the limits for insurance on injuries to people and damage to property. This is a very important coverage, so if you own a home, this is not a good place to save money. This part of your insurance policy gives money to the person you may have hurt in a car accident. It also covers the repairs to their car.
- Vehicles Your vehicles will change the rate at which you take physical damage. Make sure you give the company giving you quotes the VIN numbers for all of your vehicles when you are shopping. Most of the time, this is on your declarations page.
- Policy Period This is the exact length of time that the policy is in place. Some car insurance plans are renewed every year, while others are renewed every six months. Don't look for car insurance if your declarations page says that your policy has ended. That could put you in a carrier that isn't up to par. Shop for a new insurance plan at least one month before your current one runs out.
These are just a few of the many benefits of your policy that you can read about on the declarations page. Ask your insurance company about discounts and the tort option. If you know as much as you can, you can help make your car insurance cheaper.
