Sure, you take the necessary steps to get yourself set up with a great auto insurance policy in Salt Lake City. But when your insurance statement comes in you don’t feel like you have any clue about what you’re looking at. Rather than feeling confused and uncertain, we put together this quick breakdown of your bill and what each section means!
Breaking Down Your Insurance Bill
- Payment information: If you’re wondering what amount you’re going to pay each month this is where you can find it! The minimum amount due is what you’ll be covering each month and is owed on the due date specified.
- Account balance: This is the remaining amount you’re going to owe for the given policy period. This can be paid off through monthly payments or all at once at any time.
- Insured items: Here you’ll see a list of items included in your account.
- Make a payment: The payment process is easy! You can make your payment by phone, mail, mobile app, or online. You can even set up automatic payments so you never need to worry about missing one.
- Policy term: Here is where you’ll see when your policy starts and when it ends. When you get close to the end of your policy you’ll usually get a reminder that it’s time to reinstate your policy so you don’t run the risk of going without coverage.
- Minimum payment: You’ll want to pay the minimum payment amount in order to avoid getting a late fee. You also don’t want to risk having a lapse in coverage or having your policy cancelled.
- Current balance: This is what you have as of the date that’s listed on your statement.
- Payment received: You can see the date that your payment was last received along with the amount in this section.
- Fee information: If you make a late payment you may be given a fee that you will need to take care of.
- Personal information change: If you have recently done something like move or change your name you can make quick changes to your personal information in this section of your statement.
Still have questions when it comes to understanding your insurance statement? We’re here to help! Contact us today.