What Is Insured? Personal Lines Liability

WHAT IS INSURED ON MY POLICY? – Personal Lines Insurance Part 3

Last week we continued to breakdown the sections of the policy as to what was covered and how it is reflected. This week we continue with the further breakdown of additional sections of the policy.

Under this section you will see is the breakdown for the Motor cover in place on your vehicle.

The details of the car are presented here from the model of the car to the registration number, the vin and engine number including the colour of the car. It is important to ensure all these details are correct and are applicable to your vehicle as this could make a difference at the time a claim may arise.

Next you have the cover detail, this is showing you there is comprehensive cover in place on this policy schedule, this means that you have cover on the item for a number of insured perils from fire, theft, accidents, and other insured events. If a policy states, only third-party cover or third party and theft cover then this cover is restricted to that specific insured peril stated.

The usage shows what type of use the vehicle is used for. Here you see that the vehicle is used for social use but to and from work, meaning that the vehicle stays in one place when the owner is at work. Should your vehicle be used for business to visit clients etc. it would need to reflect as such for the correct cover to be in place.  

The registered owner reflected here is the name of the owner of the vehicle.

Under the declarations of the insured, this shows the information that was presented to the insurance company about the vehicle, in this case that it has a factory fitted alarm and immobiliser.

The risk address is the physical address for the property where your contents are kept. It is extremely important to make sure this address is correct to prevent any restrictions in the cover.

Here the regular driver is mentioned with their ID number. It is always important make sure the personal that drives the vehicle that is stated in the motor cover the most is reflected with their ID number. This is very important especially in the event of a claim. The regular driver can be different to the registered owner of the vehicle.

Next is the extensions clauses that have been engaged on the policy schedule, so in this case the client has car hire for 30 days for a sedan vehicle included as part of the cover in place. Here additional items like a wheel and tire extension could be included etc.

It is very important that all the factors for your vehicle are included under this section, if modifications have been made to the vehicles or additional items added, please contact your broker to let them know so they can advise how it needs to be stated to be insured correctly.