Understanding Your Auto Insurance Policy From First Acceptance Insurance

First Acceptance Insurance has a very useful section on their website that outlines your auto insurance policy in simple terms. To summarize, there are generally 5 parts to a typical auto insurance contract.

Part 1 is called the Declaration section, which is unique from customer to customer. Part 2 is the Coverage Parts or Insuring Agreement. This sections discusses the coverage options and coverage limits. Part 3 is Exclusions which highlights your policy’s limitations. Part 4 is Conditions which outlines legal responsibilities. Then there is Part 5 Definitions. This section goes over terms and rights of the customer and insurer. This section is sometimes referred to as fine print.

The names of the various sections may vary from company to company but the general points are discussed. It’s beneficial to understand each section of your auto insurance policy so you can easily compare benefits as you shop around for auto insurance rates.

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