Documentation:
As car insurance is a legal necessity and given that even as driving you can be stopped by police and asked to furnish insurance documents. The document confirming you hold a valid and in-force
Car Insurance Policy is supplied to you by the insurance company once you sign the insurance agreement and pay the premium amount. The documentation mainly consists of
- Certificate of insurance: A certificate of insurance is proof of car insurance as obligated by the Road Traffic Act. Mostly, the certificate of insurance is required to be produced as proof that you hold a valid Car Insurance Policy.
- Policy document: The policy document, also called schedule, spells out the terms and conditions of the car insurance policy.
- Cover note: It’s a temporary certificate issued to give time to the car insurer to complete the documentation and is generally used till the issuance of certificate of Car Insurance.
As said earlier, reading the offer document carefully is very important. Also make sure that your policy document is in sync with the terms and assurances of the insurance provider. If you have some queries on the agreement then clarify instantly to avoid future embarrassments. A good insurer will always be willing to educate his customer. Remember, once the policy agreement is signed and gets in-force, the insurer can rightfully refuse to entertain your claim for things that were not mentioned on the document. So, spend a few hours reading the document and put things right in case of any errors.
The other important part of an insurance policy is the information shared by a customer related with his driving or vehicle. Under the ‘utmost good faith’ requirement every
Car Insurance Policy holder is required to provide all relevant information concerned with his driving. A policy holder is expected to supply all details of his driving experience, accidents etc., even if the insurer fails to ask them. The insurer has the right to invalidate the insurance agreement in case certain information not provided earlier becomes evident in the future.
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