What Is a Declarations Page in Car Insurance?

An auto insurance policy comes with a declarations page that provides a clear understanding of what’s involved with maintaining and using the coverage. Typically, you’ll receive the declarations page at the beginning of a new policy, and insurance companies send out revised ones during renewal periods. Since the declarations page outlines all of the details that affect your policy, it’s important to read it carefully and report any discrepancies to your insurance agent. Understanding what to look for on the page ensures you can check the declarations carefully each time you receive one.

Check the Drivers & Covered Vehicles

The declarations page provides a list of the drivers covered by the policy along with the vehicles that have coverage. Make sure the details regarding each vehicle are correct. The VIN serves as an important identifier if you need to file a claim, and the insurance company needs to know the year, model, and make of the vehicle if it needs to pay benefits following an accident.

Take Note of the Premium

This is the amount you pay for coverage. Typically, it will include information about the total premium amount, and you should also receive a payment schedule report if you aren’t paying it all up front. If you have more than one vehicle on the policy, you’ll also see an itemized listing of the rate for each one.

Pay Attention to Policy Dates

Policy periods are the amount of time the coverage is in place. Most auto insurance policy periods last around six months or a year. In most cases, the insurance will automatically renew, but you still need to be aware of the dates to avoid potential lapses in coverage. Since many people prefer to make changes when their policies renew, being aware of an upcoming renewal period can help you know when it’s time to start doing research.

Identify the Coverage Types & Limits

As you peruse the declarations page, you’ll also want to make sure the coverage amounts are what you need to be financially secure if the worst should happen. If you have a loan for your vehicle, the lender may require you to have a specific amount of coverage. The amounts can also vary according to the different vehicles on the policy. Making sure to check each type of coverage and the limits on each one ensures you won’t receive any surprises if you need to file a claim.

Be Aware of the Deductible

The deductible on your declarations page outlines what you agree to pay if you file a claim. This amount is adjustable, and you may choose a higher deductible to enjoy a lower premium. Or it might be worth paying a little more to know you’ll have less to pay out of pocket after an accident. Either way, checking this part of the declarations helps you know what to expect to be responsible for paying to repair your vehicle after a collision. 

Drivers who are searching for reliable, affordable auto insurance should reach out to the experienced professionals at Altra Insurance Services. In addition to auto coverage, we offer a variety of insurance products, including motorcycle, homeowners, and renters insurance. San Diego residents can call one of our friendly agents today for a free quote.