The Auto Insurance Policy

Your auto insurance contract is made up of five sections.

1). The declarations page is unique to you and contains information that is specific to your household.

2). The insuring agreement page outlines the coverage options and limits that you purchased.

3). The exclusions section tells what is not covered by your policy.

4). The conditions page outlines the legal responsibilities of both you and your insurer.

5). The definitions page, which may be referred to as the “fine print,” defines the terms and gives an overview of the rights of the policyholder and the insurer.

The Auto Insurance Coverage

There are several types of coverage available, each of which provides financial protection in specific circumstances.

♦ Liability coverage helps you pay for damages that the other driver incurs from an accident that you are responsible for. It’s comprised of two parts: bodily injury liability, which covers medical bills, lost wages, and other expenses incurred by the other driver, and property damage liability, which covers damage caused to the other person’s vehicle or property.

♦ Collision coverage covers damages done to your vehicle if you are the at-fault party in an accident.

♦ Comprehensive coverage covers damage done to your vehicle caused by something other than a collision, including vandalism, falling objects, hail, and fire.

These are the most common types of coverage. We can discuss additional coverage options that offer further protection.

Key Points to Remember When Building Your Auto Insurance Policy

As you’re building your auto insurance policy, remember that a low monthly rate is only part of what makes a policy a good fit for you. A bare-bones auto insurance policy with a high deductible might come with an attractive premium, but it will probably leave you in trouble financially if you ever have to actually use it.

Remember that you are only covered up to your policy limits. If your policy says that you have $25,000 in bodily injury coverage and you are responsible for a collision that left someone with a $100,000 medical bill, you’ll be responsible for covering the rest out of your own pocket.

Before altering your policy, talk to your auto insurance agent to make sure you understand how the changes could affect you.

Contact Nevada Insurance Enrollment Today

Auto insurance can be confusing, but we’re here to help. Give us a call today to discuss your policy and to make sure that it will give you the financial protection you need if you’re involved in an accident.

Related Articles:

♦ My Car Was Stolen, What Does My Auto Insurance Policy Cover?

♦ Why Is My Auto Insurance Policy Only for 6 Months?

♦ Accidents/Vandalism: Does Auto Insurance Cover Personal Belongings

♦ How to Determine How Much Auto Insurance Coverage You Need

Read More: Auto Insurance in Las Vegas, Nevada

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Serving Las Vegas, Henderson, North Las Vegas and the entire state of Nevada

DISCLAIMER: It is important to note that the information contained herein is made general for the purpose of explanation.  You should consult your policy for exclusions or other language that may alter your policy.

Nevada Insurance Enrollment

Serving Las Vegas, Henderson, North Las Vegas and the entire state of Nevada

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