Insurance

An agreement where you pay a company money (premium) and the company promises to pay you money (a claim) if something bad happens. To your physical body or to your home, or car, etc.

• Insurance

• Deductible

The likelihood that something will be lost, damaged or someone could get seriously hurt or die.

• risk

• policy

Protects you when you cause an auto accident resulting in injury or death of OTHER parties. Pays for physical injuries to other

• Collision insurance

• Bodily Injury Liability

Protects you when you cause an auto accident in which the property of others is damaged.

• Deductible

• Property Damage Liability

Protection against a specific kind of loss.

• Coverage

• Premium

Pays for car damage due to an auto accident collision with another car or object

• Collision Insurance

• Flood insurance

Physical damage insurance pays for loss or damage due to most other causes. Not an accident. Used to be comprehensive

• Collision

• Other Than Collision (OTC)

Estimate of the current value of property. Something's worth.

• Liability

• Appraisal

Protects you directly in the event you are injured

by a driver who does not have insurance or a driver

whose liability limits are not high enough to cover

your damages. It also protects you if you are

injured by a hit-and-run driver.

• Uninsured Motorist

• Passenger

The amount you will be required to pay before insurance pays for any services

• Deductible

• Premium