The declarations page of your auto insurance policy provides an overview of all details of your contract. Included on the declarations page are the following:
When you receive a copy of your policy, it’s important to review all of the information on the declarations page for accuracy. Keep a copy of your declarations page in your files in case you find yourself with questions about your policy. If you change or revise your policy at any time, a new declarations page will be issued to you reflecting the changes. Make sure to review and keep this new declarations page as well.
The remaining pages of your policy document are called the insuring agreement. The insuring agreement section of your auto insurance policy explains the risks you are covered for, the people covered under the policy and the amount of time the policy covers you for. The purpose of the insuring agreement is to state the terms of the policy explicitly and clearly, leaving no room for misunderstandings.
The insuring agreement always includes a definitions page. This is where the “fine print” of your policy is located. The definitions page defines vocabulary you will find in your policy to make it easier to understand. It also states your rights as the policy holder.
Your responsibilities and the responsibilities of the company insuring you are outlined here. Conditions include payment requirements, the proper steps for filing a claim and the process for resolving disagreements. If you have any questions about the conditions of your policy, make sure to contact Armour Insurance Group Ltd. right away to prevent issues.
This section of the insuring agreement lists the events and circumstances which are not covered as part of your policy. The intent of the exclusions section is to make your policy as clear as possible and prevent any surprises in the event of a claim. A solid understanding of what your policy excludes is crucial in determining any additional coverage you may want to purchase. Contact Armour Insurance Group Ltd. if you need any clarification on the items that are excluded from your policy.
Make sure to set aside some time each year to review your policy and ensure that the limits and coverage you have selected are right for you. Evaluate your needs based on your provincial regulations, the value of your car, the money you have in savings and the amount of risk you feel comfortable taking. Then, make sure to read the entire insuring agreement—especially the exclusions—to guarantee that you are covered in every situation that is necessary for your lifestyle. If you have questions about your auto insurance policy, contact Armour Insurance Group Ltd. today!