Assuming you can even find the policy. These requirements are pretty straightforward, although compliance may seem like a hassle when you're already upset by the accident itself. But you may forfeit some of your rights if you don't follow these instructions. Next, look at the cover sheet of the policy, which is called the declarations page and which lists the types and dollar limits of your coverage, including shorthand references to any discounts or special provisions you have elected to purchase. Most people have heard that ignorance is no defense under the law, but they don't think they'll ever have to find out.
Auto accidents are one of the most common ways to discover the sobering cost of ignorance.
The payments Hopefully, your accident involves only damages to things and not to people. And, hopefully, it wasn't your fault. Even if it's just your car that's banged up, repairs can be a major headache. This is where the reality sets in that replacement cost is not the same thing as market value. Your car can easily be declared a total loss even though the money you'd receive is nowhere near what it would cost you to replace the vehicle.