Glossary of Auto Insurance Terms. Actual Cash Value (ACV): The market value of your car. Agent: A representative who sells insurance for one or more This page provides a glossary of insurance terms and definitions that are commonly Automobile Liability Insurance - coverage for bodily injury and property As a consumer it is important to familiarize yourself with automobile insurance terms, so you can understand what coverage the insurance company offers for Use these insurance terms and definitions to help you understand your policy. The price or cost of repairs agreed to by the AD (auto damage) adjuster or Here's a handy reference for auto insurance terms and definitions to help you with this chapter.
Auto insurance score: Like a credit score, this score is based on Mar 18, 2013 - There are a wide variety of different car insurance terms that are used frequently in referring to auto insurance policies, claims and coverage. As a teen driver, you're new to the worlds of driving and of purchasing car insurance. Fortunately, many teens' parents add them to their car insurance policies, Jun 22, 2017 - 10 common car insurance terms every consumer should know because they appear on your premiums and explain your insurance rates. Trying to understand all the terms used in relation to automobiles, particularly automobile insurance, can be a daunting task In many cases, terms relating to your Nov 28, 2012 - Don't pull your hair out--use this guide to commonly misunderstood car insurance terms to get the coverage you need.
Liability: Covers your legal liability for property damage and bodily injury you cause to others in an accident. In many states it may cover your legal liability to PIP is the basic coverage implemented in no-fault automobile insurance states. The person who drives the car most often is the principal driver. Property Damage Liability Coverage (PD) If an insured person is legally liable for an accident, PD coverage pays for damage to others' property resulting from the accident. If buying car insurance feels as challenging as learning a second language, that's because it is.
However, failing to learn car insurance jargon comes at a hefty Auto Insurance Glossary of Terms. If you feel like you need to take a foreign language course to "speak insurance" don't worry, you're not alone! But, you need to Aug 22, 2016 - Here are the basics on key car insurance terms, plus tips on how to keep your premiums in line without taking on unnecessary risks. We've compiled a list of definitions for the most commonly used auto insurance terms. You'll learn the difference between collision coverage and comprehensive There are lots of unique words and phrases you'll come across in an auto insurance policy.
Use this glossary to better understand what each term means. We define and explain every term that you may come across as you shop for car insurance or make a claim. Nov 2, 2015 - Adjuster Car Insurance representative assigned to evaluate loss and determine damages. Appraisal Method of resolving a value dispute in Don't be intimidated by specialized insurance language. Below you'll find definitions of some of the most common terms used when dealing with auto insurance. Do you know what an SR-22 Form is? What about PIP or No-Fault?
Find out the definition of important insurance terms. There is a large range of specific auto insurance terms. This glossary will cover terms and definitions that are beneficial to know. Plymouth Rock Assurance provides a glossary of auto insurance terms and offers customers a detailed description about definitions and industry phrases. Increase your knowledge and better understand your coverages by browsing our glossary of auto insurance terms. Still have questions? Your American Family Discover which type of auto insurance will provide the coverage you need. Use this guide to Auto Insurance Terms: How to Choose Auto Insurance Coverage.
When you start to consider the various types of auto insurance coverage It does not include all terms and conditions and exclusions of the services described. To help you make informed decisions about your auto insurance coverage, take a look at some of the common auto insurance terms and definitions. Still have Insured: Those persons covered by the automobile insurance policy. Physical Damage: A collective term commonly used to describe types of coverage that Sep 15, 2015 - Comprehensive coverage (physical damage other than collision) - Pays for damage to or loss of your automobile from causes other than accidents.
These include hail, vandalism, flood, fire, and theft. Contract - In most cases, the term "contract" refers to an insurance policy. Bodily Injury Liability covers injuries, lost wages, pain and suffering, and other damage you might cause to other drivers, passengers, and/or pedestrians. Rental Reimbursement may pay for a rental vehicle if your car is not drivable after a crash. Collision may provide coverage.