A guide to understanding your insurance documents

A guide to understanding your insurance documents

Understanding your insurance documents

When they receive their insurance policy, many people think, “What do I need to know? Here is an overview of key terms and phrases in your documents.

Although The Co-operator’s insurance policies are easy to understand, they contain insurance industry jargon. Your Certificate of Insurance may include some or all of the following features:

  • Policy number – You will need to provide this if you make a change to your policy or report a claim.
  • Effective and Expiry Dates – These dates indicate the period during which the insurance is in force, when it starts and when it ends.
  • Underwriter – Another way of referring to the insurer or insurance company.
  • Insured – Your name; the insurance contract is concluded between you and the insurance company.
  • Additional Named Insured – The name of the co-owner of a vehicle or property; he has the same rights as you.
  • Liability – You will usually see an amount of $1,000,000 or $2,000,000. This warranty covers you if you are legally responsible for unintentional injury or property damage.
  • Premium – The cost of your insurance policy.
  • Rider – This is an addition or change to an insurance policy. It is used to enhance, remove, exclude or otherwise modify guarantees of the basic contract. For example, we offer endorsements for adding flood and earthquake coverage.
  • Insured property – The property covered by your insurance. This can be your vehicle, your home, your personal property (the contents of your home), or a given asset, such as a trailer or a boat.
  • Specifically Named Items – These are specific items that you have told us about that are insured for a higher amount of coverage than the base policy provides, usually because of their high value (e.g. jewelry, electronic equipment, or works of art). Protection for these items goes beyond the standard amount provided by the home insurance policy.

Your insurance documents are available online.

One of the easiest ways to review your documents and make sure they’re still in order is to access them through your Online Services account. Here you will find all of your Co-operators insurance policies. You can even sign up for eDocuments and say goodbye to paperwork. Sign up for Online Services today.

Where can I find my insurance policy number?

The insurance policy number can be found:

  1. On the initial policy of the insured ;
  2. On the insurance certificate of the insured. The insured will receive his insurance certificate by post when his contract takes effect or will have to download it online from his customer area;
  3. On the notice of expiry, which the insured receives each year from his insurance company, between 3 months and 15 days before the anniversary date of the contract;
  4. On the insured’s green card, if it is car insurance. The green card contains the insurance policy number but also information related to the insured’s vehicle;
  5. On all documents or correspondence with the insurer. When the insured requests the insurance company, and the insurer responds to it or simply sends information, the letter will always be accompanied by the insurance policy number at the top of the mail.

However, if the insured cannot find his insurance policy number, he can contact his insurer to request it.

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By Daniel Lincoln

Daniel Lincoln is the founding member and Manager of Multiple Websites for First SEO Paper, also the owner of high-level quality sites focusing on General Categories only.

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