Your auto insurance policy renews every 6 or 12 months depending on the term your insuring company offers. When you receive the documents, you should take these steps to know that your policy is accurate and that you are covered for the unexpected.
- Confirm your details are correct (name, mailing and physical addresses, vehicles, drivers)
- Review the policy with these important insurance terms & definitions:
- Declarations page – summary of your insurance policy
- Bodily Injury Property Damage (BIPD) aka Liability – covers injuries and damage to another party if you cause an accident; limits of 25k to 500k are available.
- Medical Payments (MedPay) – covers medical expenses for you or passengers if injured in an accident; also covers you if hit by a car as a pedestrian.
- Uninsured or Underinsured Motorist Bodily Injury (UM/UIM BI) – covers medical expenses for you or your passengers if you are injured in an accident caused by another party who does not carry any or enough insurance to pay for your injuries.
- Comprehensive – covers your vehicle if damaged by wind, hail, fire, theft, vandalism, hitting an animal; subject to a deductible.
- Collision – covers your vehicle if damaged by colliding with another vehicle or object; subject to a deductible.
- Consider optional coverage such as roadside assistance, rental reimbursement, windshield, OEM parts, loan gap. Review discounts such as bundling, good student/driver training for youths, telematics, or paperless documents. Create an online account for 24-hour access to your policy.
- Pay the bill by the due date – several different payment plans are available:
- Pay in full (offers the most discount)
- Automatic monthly payments (you pick the date; offers a discount; low service fee)
- Electronic funds transfer (EFT) – withdrawal from a bank account
- Recurring credit card (RCC) – charge to a credit card
- Regular monthly installments (no discount; higher service fee)
- Put the new ID cards in each vehicle – proof of insurance is required to register your vehicle each year with the DMV.
Taking a few minutes to review and understand your policy will assure that you have the right coverage in place in the event of an unforeseen accident. If you need to make any changes or have questions, please call your independent agents at Crow Hill Insurance and we will be happy to assist you!