How to get cheap car insurance rates and low cost car insurance quotes
AUTOMOBILE INSURANCE GLOSSARY
EXPIRATION DATE: This is the date that coverage ends, and it is usually accompanied by a specific time such as 05/01/2006 at 12:01 am. In this example, the insurance policy would terminate at one minute after midnight on May 1, 2006.
EXTENDED NON-OWNER LIABILITY: This rider covers specifically named people operating any non-owner, insured vehicle. It offers broader liability coverage for automobiles carrying people or materials for a fee, employer-provided vehicles, and other non-owned cars.
FINANCIAL RATINGS: Insurance companies receive rating that display an organization's opinion concerning the financial worthiness of a company and its ability to meet its responsibilities to its policyholders. AM Best, Standard & Poor's and Moody's are the ratings groups frequently identified with the insurance sector.
FIRST PARTY BENEFITS: Benefits paid to those injured in an accident who are covered by the policy regardless of who caused the accident. Also known as Personal Injury Protection, benefits include medical expenses, income loss, funeral costs, and death benefits.
GAP INSURANCE: This optional insurance covers the difference or "gap" between the amount you still owe on your car and the actual market value if you experience a total loss.
GOOD STUDENT DISCOUNT: This discount, which is for students with a high academic standing, is based on statistical research revealing a relationship between safe driving and good grades.
ID CARD: This card, which is mandatory in most states, is issued by your insurance company and provides documentation of your liability insurance.
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