Car Insurance Policy
Car insurance policy is the full car insurance contract given to the policy owner when the car insurance company accepts the proposed vehicle risk. In most cases, the car insurance policy clearly spells out the car insurance coverage given by the car insurer. However, most individuals choose not to read it because it is either wordy or too technical. As such we organised a list of car insurance policy terms which may aid you in your process of reading your car insurance policy.
Car Insurance Policy Terms
Apart from knowing what your car insurance policy covers you, it is a good practice to understand the exclusions, the conditions and the endorsement. We are unable to list down all the car insurance policy terms by all the various companies as each company’s car policy is unique. However, we had listed down the common car insurance policy terms which you may find in the car policy.
- Coverage – Usually, found at the beginning of the car insurance policy, car owners can find the detail explanation of their car insurance grouped in sections namely insurance on the insured vehicle cover, liability to third parties, medical expenses and personal accident benefits.
- Exclusions – These are the terms that the car insurance company will not cover. You can find the exclusions under the general exclusions list or the section exclusions list of the car insurance policy. General exclusions apply to the entire car insurance policy while section exclusions apply to a specific section.
- Conditions — These are in short the terms and conditions of the car insurance policy. Normally, conditions of the car insurance come in two areas — the claims conditions and the general conditions. If any claims dispute arises, the car insurance company will refer to the terms and conditions stated in the car insurance. Therefore, as a car insurance policy holder, these are good to know information.
- Endorsements – In short, endorsements are the changes made to the car insurance policy. These can be either add on benefits or exclusions unique to that particular car insurance. If the car insurance owner purchased any extra benefits such as no claim discount protector, the benefit will appear under the endorsement section.
Car Insurance Policy Summary
Reading the entire car insurance policy can be a very daunting task as most car insurance contracts come in many pages. The length of the car insurance policy combined with many specialised terms may make reading it a challenge. Instead of having to go through much trouble to find and read a car insurance policy, you can choose the easier way - using the services provided at SingaporeCarInsurance.org. We helped countless of car owners find the perfect car insurance policy which meets their requirements; we can do the same for you. Request for your car insurance quotes online today.