Car Insurance Policy – More than 250,000 cars are registered every year, which means more than 250,000 people need car insurance every year. While driving is a universal skill, the way insurance companies differentiate their customers is unique. They do this through policy numbers.
When your insurance agent or company sends you a certificate of insurance, you probably don’t think much about that policy number. But if you’re involved in an accident, your policy number is the first thing you’ll need.
Car Insurance Policy
Therefore, we will tell you what it is, how to find it and why you should pay attention to it.
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Insurance companies use your policy number to locate your account, and you’ll need your policy number if you’re in an accident or need to discuss your policy with your insurance company.
Auto insurance policy numbers are usually 9-13 digits long and are unique to you. Think of it as your social security number for car insurance. No one else has the same insurance policy number as you.
Insurers generate insurance policy numbers themselves. Some use simple numbers, while others combine numbers and letters. You don’t need to memorize your insurance policy number, but it’s important to know how to find it so you can access it quickly.
Your car insurance policy number is located in several places. Ideally, it’s on your insurance certificate.
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Your auto insurance policy number is different from your VIN number, which is a 16-digit combination of numbers and letters that uniquely identifies your vehicle. It is also located on your insurance card, but should not be confused with the policy number.
Your insurance policy number can be found on any bill you receive from your insurance company and on any online account with your insurance company.
As long as you are with the same insurance company, your insurance policy number will not change. It doesn’t matter if you switch cars every year or own the same car forever, your policy number stays the same with the same company.
If you change car insurance companies, you will receive a new insurance policy number. Also, your policy number may change if you don’t renew your insurance by the renewal date and the insurance company needs to create a new plan for you.
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If your insurance covers more than one car or person, the insurance policy number may vary for each car and driver.
When you lose your insurance policy number, you can request a new insurance card from your insurance company.
Many companies make it easy to request new copies of your insurance card online, and many offer digital versions that you can print directly from the insurance app or website.
We recommend keeping several copies of your insurance card handy, one in your glove compartment, one at home, and a screenshot on your phone. This way, you will never be without insurance information.
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The only time you will need access to someone else’s insurance policy number is if you are involved in an accident with them.
Every time you collide with another vehicle, you must exchange your insurance information. An easy way to record someone’s insurance information is to take a screenshot of their insurance card on your phone.
If the person does not know or does not have their insurance policy number, you can take a photo of their driver’s license or call the insurance company and provide the person’s name, license plate number, and the name of the insurance company.
While your auto insurance policy number may not require extra attention every day, it’s important to know how to access it when you need it.
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When shopping for auto insurance, make several copies of your policy number and write down where you can access it, so you’re ready when you need it.
Use our independent insurance agent matching system to find the best auto insurance plan in your area. You tell us what you’re looking for and our technology will recommend the best agents for your needs. Any information you give us will only be sent to the agents you have chosen. When buying or leasing a car, it’s important to protect that investment. Getting car insurance gives you peace of mind if you are involved in an accident or if your car is stolen, vandalized or damaged due to a natural disaster. Instead of paying out of pocket for a car accident, people pay an annual premium to their car insurance company; the company pays all or most of the costs associated with a car accident or other damage to the vehicle.
Car insurance is essentially a contract between you and an insurance company where you agree to pay a premium to protect against financial loss caused by an accident or other damage to your vehicle. Car insurance can provide:
The exact details of what’s covered depend on your state’s minimum coverage requirements and any additional coverage options you decide to add. All states except New Hampshire require drivers to carry a minimum amount of bodily injury liability coverage and property damage liability coverage.
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Failure to obtain the minimum auto insurance coverage required by your state’s laws can result in your license being suspended, fines, or jail time for a repeat offense.
Car insurance premiums vary based on age, gender, driving experience, history of accidents and traffic violations, and other factors. Again, most states require a minimum amount of car insurance. This minimum varies by state, but many people purchase additional coverage to further protect themselves.
Additionally, if you are financing a car, your lender may require you to have certain types of car insurance. For example, if you buy an expensive car, it can depreciate very quickly after you drive it off the lot. Gap insurance helps pay the difference between the value of the vehicle and what you still owe in the event of an accident.
Poor driving experience or wanting full coverage will result in higher premiums. However, you can lower your premiums by agreeing to take on more risk, which means increasing your deductible.
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Your deductible is the amount you must pay at the time of a claim before the insurance company pays anything for the loss. For example, your policy may have a $500 or $1,000 deductible. Agreeing to a higher deductible may result in a lower premium, but you need to be sure you can afford the higher amount if you need to file a claim.
Ask your insurance company about ways to lower your car insurance rates, such as getting a safe driving discount or taking a defensive driving course.
In exchange for paying a premium, the insurance company agrees to pay your expenses as specified in the policy. Policies are priced individually, allowing you to tailor the amount of coverage to your specific needs and budget. Policy terms usually have terms of six or 12 months and are renewable. The insurance company will notify the client when it is time to renew the policy and pay another premium.
Despite requiring a minimum amount of auto insurance, almost all states require car owners to carry bodily injury liability coverage, which covers the costs of injury or death caused by you or another driver while driving your vehicle. They may also require property damage liability, which compensates others for damage caused to another vehicle or other property by you or another driver driving your vehicle.
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Several states go a step further by requiring car owners to carry medical bills or personal injury protection (PIP), which covers medical expenses for injuries to you or your passengers. It also covers lost wages and other related expenses.
Uninsured motorist insurance covers you when an accident is caused by an uninsured driver. Underinsured motorist coverage is designed to protect you in the event that you are involved in an accident with an insured driver, but is not sufficient to cover the full cost of the claim.
Taking out a car insurance policy above the minimum limits set by state law can increase the cost of your insurance, but it can also benefit you later if you are involved in an accident.
A car insurance policy covers you and other family members under the insurance policy, regardless of whether you drive your car or someone else’s car (with their permission). Your policy provides coverage for someone who is not on your policy and who is driving your car with your consent.
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Personal car insurance only covers personal driving. If you use your car for business purposes, such as delivery, it does not provide coverage. It also doesn’t provide coverage if you use your car for work for ride-sharing services like Uber or Lyft. Some car insurers now offer add-on insurance products (at an additional cost) that extend coverage to car owners who offer ride-sharing services.
While other types of insurance, such as health and home insurance, may seem more important, if you own a car, regardless of whether your state requires auto insurance, an insurance policy can save you a lot of money.
