Auto Insurance Definitions Simplified November 2, 2007
Posted by admin in : Tips On Car Insurance Selection , trackbackAuthor: Brian Stevens
Article:
Auto insurance terms can be confusing, to say the least. Below
are auto insurance definitions in layman’s terms.
Anti-Theft Device - Anything on your auto that reduces
the chance that it will be stolen or that makes it easier to
find if it is stolen. Examples include:
* Car alarms
* Keyless entry systems
* Starter disablers
* Vehicle identification number etchings
* Auto tracking systems
Bodily Injury Liability - The amount your insurance
company will pay if you injure or kill someone else with your
auto.
Collision Insurance - Coverage from your insurance
company for repairing or replacing your auto if it collides with
another vehicle or object.
Comprehensive Coverage - Coverage from your insurance
company for repairing or replacing your auto if it is damaged by
anything other than a collision or is overturned.
Claim - Any request for payment under the terms of your
insurance policy.
Deductible - The amount you pay out of pocket before the
insurance company begins to pay on a loss.
Good Student Discount - A discount that insurance
companies give students who earn high grades in school.
Insurance Comparison Website - A website that allows you
to quickly and easily get auto insurance quotes from multiple
insurance companies (see link below).
Medical Payments - The amount your insurance company will
pay for medical and funeral expenses caused by an auto accident.
Multi-car discount - A discount that insurance companies
often give if you have more than one vehicle insured on the same
policy.
Multi-policy discount - A discount that insurance
companies often give if you have more than one policy with the
same company.
Per Occurrence Limit - The maximum amount an insurance
company will pay for all claims from a single incident.
Per Person Limit - The maximum amount an insurance
company will pay for one person’s injuries caused by a single
incident.
Property Damage Liability Insurance - The amount your
insurance company will pay for damage you cause to someone
else’s car or property.
Where to Get Cheap Auto Insurance Rates
Visit http://www.LowerRateQuotes.com or click on the following
link to get cheap auto insurance rate quotes from top-rated companies insurance rate quotes
from top-rated companies and see how much you can save. You can get more insurance tips in their
Articles section, and get answers to your questions from an insurance expert by using their online chat service.
About the author:
The authors, Brian Stevens and Stacey Schifferdecker, have spent
30 years in the insurance and finance industries, and have
written a number of articles on auto insurance definitions.
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