As a driver, you have many choices when it comes to purchasing auto insurance.
Each choice you make affects the coverage you receive and the amount you pay. As
with any major purchase, you need to understand the product before you buy it.
Match My Ride has prepared this guide to help you understand auto insurance and
explain how to shop for the coverage that best suits your needs. Whether you are
buying a new insurance policy or renewing your current policy, this guide will
outline how to make choices that work for you. It is important to remember that
you have the right to change your coverage and policy limits at any time, even
if you are not near your renewal date.
An Important Fact
Auto insurance helps protect you and your family from losses resulting from
motor vehicle accidents. It is required in 47 states. If you drive without
insurance, you are probably breaking the law!
Match My Ride Has put together a comprehensive Glossary of insurance terms.
Understanding these will allow you to make more informed decisions regarding
coverage for you and your family.
Start saving on auto insurance by using one of our recommended insurance services
Your insurance policy is actually a contract between you and the insuring
company. It sets out exactly what the company agrees to do in exchange for the
premium that you pay. This contract is divided into two sections: a declarations
page and the policy itself.
The Declarations Page
This section of the policy includes basic details of the agreement. It is
important that you review this page to be sure that all the information is
correct and the coverages listed are what you requested. The declarations page
includes:
Name of the insurance company
Name(s) of the policyholder(s)
The policy number
The policy period
Description of the vehicle(s) insured
Coverages purchased
Limits of liability and deductibles purchased
Premium charge for each coverage
List of forms that are a part of the policy
The Policy
The second part of your insurance contract is the policy itself. This includes:
Insuring agreement
Definitions
When and where coverage applies
Conditions if the vehicle is financed
General conditions
Mutual conditions
Exceptions and endorsements of the policy
Tip: Be sure to review your declarations page to verify that the
types and amounts of coverage are what you intended them to be.
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