Do you speak insurance? - auto insurance articles

How well do you understand an agent when you are shopping for insurance for your car , home , business or health? I bet that to a majority of us it sounds like a foreign language. What can you get without understanding? Basically, whatever the person on the other end of the phone tells you to. I donít suggest that all agents will try to up sell you, but isnít it nice to have at least an idea of what you might need to insure your property or your health.

Insurance-ese is a difficult language - here some definitions of insurance terms that are widely used by agencies.

  • Coverage: a promise to pay a certain type of claim if it occurs (automobile liability coverage, theft coverage, and so on).
  • Deductible: the amount of a loss that you pay out of your own pocket before insurance kicks in.
  • Liability: your financial obligation to another person for injuries or property damage you cause.
  • Liability coverage: a promise in an insurance policy to defend you in court and pay what you owe another person for injuries or property damage you cause.
  • Policy: the legal contract between you and an insurance company in which the company agrees to pay covered claims when you have them in exchange for a payment from you. Any policy contains many coverages.
  • Premium: the price you pay for the insurance policy covering a defined time period - six month or a year.
  • Collision: coverage , covering damage from colliding with another object, regardless of fault.
  • Comprehensive: coverage, covering most other kinds of accidental damage to the vehicle, such as fire, theft, vandalism, glass breakage, hitting a deer, wind or hail.

Get an Auto Quote!

Quote in three easy steps • Extensive help menu • Quote online. Buy online