More Insurance Terms

In the insurance game you need to go in with as much ammunition as possible. This means that you need to know what you are getting into and you also need to know how to combat it the best. One of the ways you can fight to get the best deal is by knowing the terms that you will come up against. The following are some of those terms that you need to learn. We want to help you become a professional in this insurance fight. Make sure you learn these terms and then use them to the best of your abilities. You will be thankful that you did.

Some Important Words to Learn

Personal injury protection: This is also referred to as PIP. Most insurance coverage will help you out if you are injured within your car during the time of an accident. Personal injury protection will help you out by making sure that they pay if someone, other then yourself, is injured within your car during an accident.

Bodily injury liability: It is one thing to make sure that those within your car are protected during the time of an accident. Other things that must be covered though are the people on the other end. If you cause any injuries in the accident then bodily injury liability will make sure that those people are covered as well. They cannot be forgotten about.

Property damage liability: What about the damage that you cause? If you have personal damage liability then the damage that you cause to other cars or other property will be covered. This helps you out in the event that accident you get into is not with another automobile.

Collision: If you get in an accident then this will cover your car. If you choose to have a higher deductible then you will be saving money on your premium and vice versa. Make sure that you always have enough money in your account to where you can cover whatever you set your deductible for. That will be the amount you are instantly responsible for.

Comprehensive: This is the coverage that will help you outside of a collision. If you get something thrown through a windshield, then this will help you out. If your vehicle is stolen, then comprehensive will help. The deductible and premiums work the same way that they do for collisions.

Uninsured/underinsured motorist: If you get in a wreck and the other person does not have insurance, or the insurance they have is not enough, then the underinsured motorist coverage will help make up the difference. There are some states that require this, but others do not. Make sure you check.

Additional Resources:

• Getting the Right Insurance
• Ground Zero Workers fight for Insurance Funds