This is a detailed guide on what car insurance policy number is, where it can be can find, and reasons why you should keep an eye on it.
Car insurance policy number is very important, especially to car owners. Every year, more cars are registered, which means that more people require car insurance.
Insurance companies uniquely distinguish their customers with the help of policy numbers.
Car insurance companies do look into a registered account using your policy number. Knowing where to look for it is critical because you may need it to access critical account information.
If you are involved in a car accident, a car insurance policy number is the first thing you need to provide to your insurer, police, or another driver.
What is Car Insurance Policy Number?
Car insurance policy number is a discrete numeric identifier. Insurance policies are distinguished from one another by their policy numbers, which serve as an identifier.
As a type of insurance, a car insurance policy is designed to protect you and your vehicle from financial losses in the event of an accident. The policyholder’s automobile or a two-wheeled vehicle is protected financially in the event of an accident or other hazard.
If you get into an accident or need to talk to your insurance company about your policy, you’ll need your policy number to locate your account.
Car insurance policy numbers are typically between nine and thirteen digits long and are specific to you as an individual. For car insurance, think of it to be your social security number. Nobody else is going to do this for you.
3 Types of Car Insurance Policies
Listed below are the 3 types of car insurance policies that you will need to know before embarking on getting an insurance policy.
1. Third-Party Car Insurance Policy
The Motor Vehicles Act mandates that third-party liability insurance be purchased.
Unless you have it, you will be driving your vehicle illegally on the road, which could result in a fine or penalty.
This policy protects you in the event of a third-party lawsuit stemming from an incident involving your car or vehicle.
Third-party insurance, put simply, protects you against financial loss due to damage or death caused to a third party by your vehicle. The cover has an interesting detail.
It is not required for the plaintiff to prove the driver’s negligence under the Motor Vehicles Act. Only third parties are covered by Third Party Insurance, as the name implies.
There is no coverage for vehicle damage or theft. The cost of the policy is also low, given the nature of the coverage.
2. Own Damage Car Insurance Policy
A car insurance policy that covers your vehicle in the event of an accident, such as a fire, theft, or vandalism, is called an Own Damage policy.
The cost of repairing or replacing parts of your car that were damaged in an accident is covered by an own damage policy.
The cost of repairing your car if it is damaged as a result of;
- Natural disasters such as floods, earthquakes, fires, and more.
- Violence, riots, and terrorist attacks are all examples of man-made disasters.
- In the event of an accident, damage to your vehicle or the items inside may occur.
- Theft or malicious behavior
3. Comprehensive Car Insurance Policy​
Third-party liability and own damage coverage are both included in the comprehensive car insurance policy. When it comes to protecting you and your vehicle, this policy is comprehensive.
With this insurance, theft of the vehicle is covered, as well as damage caused by a variety of causes. You can rest easy if your vehicle is stolen while you have this policy in place.
Many perils are covered by comprehensive insurance, including vandalism, fire damage, floods, damage caused by natural disasters like tornadoes, wind storms, and so on, broken glass (e.g. windshield), and damage from falling objects.
Add-on coverage such as Personal Accident, Electrical Appliances, Zero Depreciation, and many more are available to supplement your basic policy.
Two Factors You Must Consider While Choosing a Car Insurance Policy
Here are the two factors you must consider while choosing a car insurance policy amongst various insurers.
1. Quick and hassle-free process
Automobile insurance can be difficult to obtain if the process is lengthy and burdensome. The entire process must be simple, fast, and convenient.
Selecting an insurer that allows customers to purchase their policy online is also highly recommended.
2. Customer Support
An insurance company with a good reputation and a solid track record will have employees who are well-versed in handling customer service issues.
Live chats are also available from insurance companies to ensure that your issues are resolved as quickly as possible.
With a car insurance policy number, you can rest easy knowing that you’re covered. If your vehicle or third parties are damaged or stolen, you can rest assured that you will not be financially harmed.
5 Benefits of Car Insurance policy Number
A comprehensive car insurance policy offers a plethora of benefits. Following are five major benefits of such a plan.
1. Offers coverage for damage to property
It is impossible to eliminate the possibility of your vehicle being damaged in an accident. The cost of repairs can be very expensive and leave a significant dent in your budget.
With a car insurance policy number, paying for costly repairs is not something to worry about because your insurance company will pick up the tab.
2. Provides coverage for hospitalization costs
Hospitalization may be necessary if you suffer a serious injury or fracture. Medical bills can quickly spiral out of control if you don’t have a car insurance policy number.
As a result, you can concentrate on your recovery rather than fretting about finances.
3. Reduces your Liability
It’s a legal requirement under the Motor Vehicles Act to have third-party liability insurance.
If you are found to be at fault for an accident, this type of insurance lowers your financial exposure.
Regardless of who is at fault, the insurance company will take care of any third-party property damage or injuries.
In addition, if a lawsuit is filed against you, you are protected from the legal consequences.
4. Compensates the Family in case of death
When Vehicle owners lose their lives in collisions, even when the policyholder’s death is unavoidable, his or her family may face financial hardship if the policyholder was the primary breadwinner.
In the event of a driver’s death, the insurance company will pay a lump sum. The loved ones can use this money to pay for their financial needs.
5. Offers Coverage for Natural and Man-made Calamities
Natural calamities such as cyclones, hailstorms, floods, typhoons, hurricane insurance, and many others can be covered by a vehicle insurance plan.
Additionally, it protects from man-made events like fires, terrorist attacks, and strikes.
Where You Can Find Your Car Insurance Policy Number
There are numerous places where you can find the details of your car insurance policy.
1. Your insurance ID card
Your insurance ID card is the most convenient location where you can find your car insurance policy number.
Car insurance policy number differs from vehicle identification number (VIN), which is a 16-digit number and letter combination that identifies your vehicle.
The vehicle identification number can also be on the insurance card, but don’t confuse this with your policy number.
2. Go through your Premium Bills
Your insurance policy number can also be found on your insurer’s billing statements and any online accounts you have with them.
On your car insurance card, you’ll find an eight- to ten-digit policy number. All your vehicles can be listed on a single card, or you could assign a unique number or card to each vehicle you own.
In the latter case, only the last digit is frequently altered between vehicles.
3. Look at your insurance declarations page
Insurance companies are required by law to provide you with documentation outlining the various types of coverage available under your policy. The car insurance policy number is usually printed on this paperwork.
When do you need your Car Insurance Policy Number?
A car insurance policy number is needed in a variety of situations. A physical copy of the insurance policy document, or access to it via email and other online sources, is recommended while driving. A vehicle insurance policy number is required in the following situations:
1. Renewal/Change in Insurance Plan
You may need the car insurance policy number to access the integration and renew your car insurance policy as needed.
Additionally, if you decide to switch insurance companies and have your current policy transferred to the new company, the new company may request this information.
2. When You Have a Car Accident
A car insurance policy number might be requested by the insurance company after an accident.
A First Information Report (FIR) and the police’s request for the car insurance policy number could also be required depending on the severity of your accident.
Third-party insurance policies may need to be exchanged in the event of a collision. The number assigned to each driver will be used to file a claim.
3. For Verification
You will need to produce your insurance policy document when you’re pulled over by a police officer or an authorized person. Routine checks at checkpoints or while driving on public highways are examples of this.
4. When Applying for Duplicate Documents
A physical copy of a policy document may be preferred, even if it is easier to check or retrieve it online.
Long road trips, especially those that take you out of the state where your vehicle is registered, may necessitate the purchase of an additional car insurance policy.
The car insurance policy number may be required when obtaining a duplicate copy.
5. When Purchasing a Used Car
You may be thinking about purchasing a used car that meets your needs. However, it is critical to confirm the validity and insurance of the vehicle.
The insurance policy status of the used car can be traced by searching for the vehicle’s registration number on the internet.
What to Do If I Lost My Car Insurance Policy Number?
You need to know your car insurance policy number so that you can give it to your policyholders, your insurance company, or another driver when necessary.
If you’ve misplaced your auto insurance policy number, you can get a replacement by contacting your insurer. This number is permanently attached to your car insurance policy.
It will be easy for your insurance provider to track it down, as long as your policy is still active. Printing out new cards from your online account is a common feature offered by most insurance companies.
Your phone should have a digital copy, and a paper copy should be kept in a safe place for future reference. In addition, your smartphone can serve as electronic proof of insurance.
As a safety net, having a paper copy is also recommended. The police won’t have to have access to your phone when you’re pulled over because you’ll have a paper copy of your license.
When Do I Require the Car Insurance Policy Number of Someone Else?
If you’re in an accident, you’ll most likely need the insurance policy number of someone else. Regardless of who appears to be at fault or the severity of the accident, you should ask the other driver for their insurance information.
It’s a sign of good faith to offer yours as well, and it may inspire them to do the same. Taking a photo of the other driver’s insurance card with your smartphone usually works best because insurance cards are small and hard to read.
With this, you won’t have to rely on your ability to read your handwriting scribbled on a piece of paper on the side of the road. Take a photo of the front and back of the card and note the recipient’s name and phone number.
Also when you begin the process of filing a claim after an accident, you will call both your own and the other driver’s insurance companies and give them the other driver’s insurance number.
5 Ways to Check Car Insurance Policy Number
Regardless of whether you’ve lost or forgotten your car insurance policy number, you can find it and verify if it’s still valid.
You can also lookup for information about the insurance company, the date of the next renewal, and other aspects of the policy’s coverage. Car insurance policy numbers can be checked using the five methods below:
1. Through Online
You can check your car insurance policy number by accessing your insurance provider’s website to get the information.
Information such as registered phone number, vehicle registration number, or e-mail address may be needed to access the policy document for the car insurance policy number.
You can download the insurer’s mobile app and access your account from any location thanks to smartphones.
You can also search your email inbox for the policy document that your insurance provider may have sent to you previously.
2. Through Offline
To learn more about your car insurance, speak with your insurance agent or stop by a branch office. It is possible to get the insurance policy number from either the insurance branch or the insurance agent.
Many insurance companies are now using the internet to make their products more accessible and have an online presence that can meet the needs of a wide range of customers.
3. Insurance Companies eService
Using the insurance company’s websites you can access a database of vehicle information. You can get information about a chassis number, vehicle’s engine, owner, and insurance status by using the vehicle’s registration number.
Even if you don’t get the policy number, you can use this to see if the insurance is still valid before buying a used car.
4. Checking on Insurance Information Bureau
The insurance Information Bureau keeps a database of vehicle insurance and vehicle records in a digital format. You can access your car insurance policy number by logging into their website.
In the event of an accident involving a third party, you can also check the status of the insurance policy of the third party involved.
To obtain this information, you can use the insurance company web portal maintained by the Ministry of Transportation to check the validity of the insurance.
Also See: How To Check Car Plate Number Owner In Nigeria
5. Contact Your Insurance Provider
To know more about car insurance policy, you can contact an insurance provider through call or send an email to the appropriate department.
Most of these inquiries are always handled by the customer service department of the insurance company.
You can obtain your car insurance policy number by providing specific information that may be requested from you.
In a nutshell, a car insurance policy number is used as a way to identify an insurance policy. You will not be able to take advantage of your car insurance policy if you do not have this number.
As a result, regardless of whether you have comprehensive or third-party insurance, you must always remember your car insurance policy number. Your car insurance policy number can be found using the methods listed above.