Do you know the fine print on your insurance policies?
Always read and review your car insurance and any policy. Insurance brokers review policies annually and generally renew automoatically. But what if there is a change in your life? In your car, household, etc.? Letting your insurance company know about changes that affect your policy is imperative to keep your coverage.
All policies have a declaration page. This identifies:
- The insured
- Name of Insurance Company
- Risks insured and coverages including form numbers and endorsements
- Limits of the policy
- Premium
- Effective and expiry dates of the policy
- Any other interested parties
The insuring agreement states:
- What losses are covered
- What is being covered with description
- Perils Insured
- Exclusions on the policy
There are also policy conditions that the insured must fulfill to make sure coverage remains in force.Breaching a condition may void a policy (your claim may not be paid.)
Policies should always be reviewed and kept up to date. Any required changes or questions about your policy should be discussed with your independent insurance broker.
Do you have questions about your policy? Call Armour Insurance today.
