An insurance policy is comprised of a series of written documents that create an agreement for insurance between the insurance company and the policyholder. Depending on the type of insurance, the documents that make up a policy include forms, endorsements, riders, and attachments. No matter if it’s a life insurance policy, health insurance, auto insurance, or a homeowner’s policy, all insurance companies assign an identification number to every policy. The policy number will be unique to each policy and policyholder.
So, what is an insurance policy number? Once you purchase an insurance policy, the insurance company will assign a policy number as a reference point to look up and identify the specifics of your coverages. Similar to the way your social security number identifies you as a citizen, a policy number provides proof of insurance and identifies the limits and terms of your coverage.
While all policies have a unique number, not all insurance companies populate numbers in the same format. Policy numbers can vary in length and can be all numbers or a combination of both letters and numbers. No matter what company you are with or what kind of coverage you have, your policy number will play an important role. Let’s take a closer look at your insurance policy number.
Are insurance policy numbers permanent?
As a new driver, your state will require you to purchase a minimum amount of liability insurance before you can drive your car legally. As discussed, once the policy is purchased, you will be assigned a policy number. The same will be the case for other types of insurance you purchase.
This number will serve as proof of insurance and will link you and your property to your insurance coverage. Your number should remain the same as long as the policy remains in good standing. Even if you make changes to the policy or add items, the policy number will stay the same. If there is a lapse in your policy or you change insurance companies, your number will change.
When do you need your insurance policy number?
There are a few times when you’ll need to have access to your insurance policy number. If you need to file a claim against your homeowner’s policy or make adjustments to your life insurance, you’ll need your policy number. Perhaps the most used insurance policy number, however, will be from your auto insurance policy.
After a car accident, you’ll exchange insurance information with the other driver including your policy number. If you are stopped by a police officer, you’ll have to provide your insurance information as proof of your coverage. Additionally, when you contact your insurer, you’ll be required to provide your insurance policy number so that the insurance agent can locate the specifics of your policy.
Where can you locate your insurance policy number?
When you purchase a health insurance plan, you will be issued a health insurance card that predominantly displays your policy information and number. If you visit your doctor or pharmacy, you’ll need this card to receive your benefit. Similarly, your vehicle insurance card contains your insurance policy number and other insurance information. You’ll also need this as proof of insurance. Other types of ID cards will be issued for other policies and will contain your number.
Besides your id cards, however, your insurance policy number can also be found in a few other places. Any copies of your policy, insurance coverage documents or monthly statements will contain your number. Additionally, you can locate your insurance policy number through online portals and smartphone apps provided by many insurance companies.
Throughout life, we are identified by various numbers including our social security number and our driver’s license number. Similarly, an insurance policy number will tie you and your property to insurance information and coverage. While insurance numbers will vary among insurance companies, they serve an important purpose. You’ll want to make sure that you safeguard your insurance policy number and keep it on hand in case you need to file a claim or provide proof of coverage.