Index
A |
B |
C |
D |
E |
F |
G |
I |
L |
M |
N |
P |
R |
T |
U
Auto Replacement Coverage
A supplemental auto insurance coverage that guarantees your car
will be completely repaired or replaced.
Top
Bodily Injury Liability Coverage
In a car accident for which you are at fault, bodily injury liability
coverage pays for the medical and rehabilitation expenses for
the other party you injure.
Binder
A temporary auto insurance contract that provides proof of coverage
until you receive a permanent policy.
Top
Cancellation
Termination of an auto insurance policy before its normal expiration
date.
Claim
A request for payment from the auto insurance company on an insured
loss.
Collision Coverage
Collisions coverage pays repair damages to your car as a result
of an accident with another vehicle or object. Most banks and
lenders require this coverage to receive a car loan.
Comprehensive Coverage
Comprehensive coverage pays for theft or damages to your car caused
by fire, flood, vandalism, or hitting an animal. Most banks and
lenders require this coverage to receive a car loan.
Top
Declarations Page ("dec page")
The declarations page of your policy shows your auto insurance
premium and coverages.
Deductible
The deductible is the amount you must pay out-of-pocket for each
claim before the insurance company begins payment.
Top
Emergency Road Service
Optional car insurance coverage that pays for towing or roadside
assistance if your car becomes disabled.
Top
Financial Responsibility (FR)
Liability insurance or bond that promises to pay other people
if you are at fault.
Top
Gap Insurance
Gap insurance pays the difference between what you owe on your
auto loan and your car's market value if it is totaled.
Top
Insured
The insured is the person and/or property covered by the auto
insurance policy.
Insurer
The company that provides the auto insurance. Insurers must be
licensed in the state in which are you buying insurance.
Insurance Policy
The printed form, which serves as the contract between an insurer
and an insured.
Top
Liability Insurance
Liability insurance pays another person for injuries or damages
caused to their property by the insured.
Limit
The amount of insurance for a specific coverage that the insurance
company pays up to.
Top
Medical Payments Coverage
This pays the medical bills for you and others covered on your
auto insurance policy regardless of fault.
Top
Negligence/Negligent
When your inattention or carelessness causes an accident,
you are considered to have been at fault.
Non-renewal
A notice of the car insurance company's refusal to renew your
policy prior to the end of the policy term.
Top
Personal Injury Protection (PIP)
Personal injury protection is usually required in no-fault states
as a mandatory part of your auto insurance policy. PIP pays for
medical expenses, lost wages and essential services for you and/or
persons in your vehicle.
Property Damage Liability
In a car accident for which you are at fault, property damage
liability coverage pays for the other party's property damages.
Premium
The amount you pay for the auto insurance policy.
Top
Rental Car Reimbursement Coverage
Optional coverage that helps you pay for a rental car if your
car is damaged or stolen.
Top
Territory
The geographical area where the auto insurance company charges
the same premium for drivers with similar characteristics.
Total Loss
When the cost to repair a vehicle exceeds the vehicle's actual
cash value.
Top
Uninsured Motorist (UM)
Uninsured motorist coverage pays for medical expenses for you
and/or your family if you are hit by an uninsured motorist.
Underinsured Motorist (UIM)
Underinsured motorist coverage pays for medical expenses for you
and/or your family if you are hit by a motorist who does not
have enough insurance to cover your claims.
Top
|
Get a Rate Quote
