How to get cheap car insurance rates and low cost car insurance quotes
AUTOMOBILE INSURANCE GLOSSARY
AUTOMOBILE INSURANCE: Insurance designated to cover losses connected to automobiles. Types of automobile coverage include: vehicle collision and comprehensive, property damage liability, bodily injury liability, and medical payments. Determination of what types of insurance to carry is contingent upon a consumer's wants and needs.
BASIC LIMITS OF LIABILITY: To determine rates insurers use basic limits of liability. The "basic limit" is the minimum amount of purchasable liability coverage. This limit is often equal to the smallest amount a particular state mandates. If a consumer desires increased coverage, a new rate is determined by applying a larger limits factor to the base premium.
BODILY INJURY LIABILITY: The legal liability for bringing about physical injury or death to another person.
COLLISION INSURANCE: This covers loss to an insured person's own vehicle caused by its collision with another vehicle or object.
COMBINED SINGLE LIMIT: Combining Property Damage and Bodily Injury coverage and showing it as one amount.
COMMISSION: The compensation an agent receives for his/her services, which is calculated as a percentage of the insurance premium.
COMPREHENSIVE COVERAGE: Coverage for damage to an automobile other than that caused by a collision or rollover. Theft, vandalism, falling objects, and fire are a few examples of covered events.
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