What is an insurance policy for your car?

What is an insurance policy for your car?
What is an insurance policy for your car?
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What is an insurance policy for your car?

Your car insurance policy is the document that contains the agreement signed with an insurance company and which establishes the obligations and rights of the insurance company and the insured. Also where the persons or objects that are insured are described and the guarantees and indemnities are established in the event of an accident.

The car insurance policy is also the documentation that the company sends us once we have contracted the insurance and that we keep it in the glove compartment without hardly reading, and believing that with that we are insurers for any contingency that occurs in our vehicle. Error: we must lose the fear of all this documentation, because it may happen that aspects that we take for granted are not reflected and that later give rise to unpleasant surprises.

Below we review everything you need to know about your car insurance policy.

Everything that will be explained below must appear in the folder that the company that assures our vehicle gives us. Otherwise, you must claim it from your insurance company, which is obliged to give it to you.

Insurance terms

There are two types:

  • Particular Conditions of the Insurance. These sheets will include all the coverage that we have contracted in particular (travel assistance,  civil liability,  moons, etc.), and our name, address, age, details of the insured vehicle, etc. The companies have “type” policies that are prepared for those who want to contact them, but each client wants different coverage since the risks that each one wants to insure will vary depending on their preferences.
    These papers will therefore be where it is “particularized” with the coverage that each one wants to contract, with the vehicle that is going to be insured, and with the data of the driver that is going to take it.
    Here we are not going to find all the information on the coverage, although it is very important to know the main aspects that we are going to have contracted and who is the insured, the non-standard accessories that are or are not included, the amount with which we would be compensated in case something happened to us, etc.
  • General Insurance Conditions. It is easy to identify since it is the largest document, a small book that if we open it, we will see that it is full of articles and phrases that sound like “The contracting party of the first part will be considered as the contracting party of the first part” of the great Groucho Marx.
    Although it costs us the “translation” of it, it is here where everything to which we are entitled and what we are not is stipulated. This is what we call “The fine print”.
    Probably 99% of users do not read this documentation, and we find ourselves in the situation that when we want to take out insurance, we ask for prices from several companies and in the end we choose the cheapest one, believing that we have the same coverage as the one that bought it. offers more expensive, which we believe is swindling us by offering much more expensive prices for, apparently, the same coverage.
    Then the moment of truth arrives, and we see that we have made a serious mistake, we have overlooked the small print of the companies, which is the cause of the price differences between the different offers. Our objective is precise, to be able to provide the user with all the fine print by comparing it between the different companies.

Casey Harward

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