Buying Insurance

Lesson 2: Auto Insurance

Exercises Lesson 2

1. Dig out your auto insurance policy. The various parts of the insurance and the dollar limits should be clearly indicated on the first or second page (insurance jargon: Declarations page). find this page in your policy. Compare your coverages to those described in this lesson. Do you have them all? What are the dollar amounts of the insurance? Does it seem to you adequate? Are all of your vehicles listed in the policy with the correct kinds and amount of insurance?

What should you do in the event that you have an accident? What does your policy require you to do in the event of an accident?

How long do you have to inform your insurance company/agent that you have purchased a different vehicle?

All of these questions are answered in your auto insurance policy. READ IT.

2. If you don't have auto insurance (presumably because you don't own an automobile), describe the auto insurance you would like. Skip the jargon and technical terms and just list the protections you would like to have.

3. Read Hungelmann chapter 4, "Special Auto Insurance Situations." Anyone have a story to relate regarding rental car insurance, insuring a company car, or insuring an antique or classic car?

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