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16 Cards in this Set
- Front
- Back
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Auto Insurance
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A policy that covers registered motor vehicles and the drivers that drive them.
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Liability Coverage (Auto)
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Provides protection for the insured against loss arising out of his/her legal liability to third parties.
Typically includes: • Bodily Injury • Property Damage |
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Medical Payments - Auto
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Covers the insured’s own medical costs for injuries sustained in an auto accident regardless of fault.
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Physical Damage
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Covers damage to your vehicle for collision and comprehensive losses.
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Rating Factors - Auto
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Characteristics of risk’s that impact premium:
• The car you drive • Where you live • How much you drive • Your driving record & the driving record of people who drive your car • Age • Gender • Marital status |
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Property Damage
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Damage or destruction of the property of others, including loss of use of the property.
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ID Card
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An identification card issued by your insurance company that provides evidence of liability insurance. Such evidence is required in most states.
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Recreational Vehicle
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A policy that provides coverage for:
• all-terrain vehicles • mini bikes • trail bikes • snowmobiles • golf carts • jet skis • transport trailers |
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Collision
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Covers damage to the insured vehicle when it collides with another object.
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Comprehensive
O-T-C (Other Than Collision) |
Cause of loss other than collision.
Example: • Fire • Theft • Vandalism |
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Towing
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Provides reimbursement for towing.
In most states, it is included with Comprehensive coverage. |
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Uninsured Motorist Coverage (UM)
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Provides coverage for the insured’s medical bills when they are injured in an auto accident caused by someone who does not have insurance.
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Underinsured Motorist Coverage (UIM)
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Provides coverage for the insured’s medical bills when they are injured in an auto accident caused by someone who does not have enough insurance.
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Personal Injury Protection (PIP)
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Sometimes called No-Fault Coverage. Provides coverage regardless of fault.Coverage details and limits vary by state.
Examples: • Medical bills • Loss of income • Replacement services • Funeral expenses (Also see No Fault automobile insurance) |
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Deductible Savings Benefit (DSB)
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rewards safe driving and customer loyalty by reducing the deductible for Physical Damage losses at the time of a claim.
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No-Fault Automobile Insurance
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A form of insurance by which a person’s financial losses resulting from an automobile accident, such as medical and hospital expenses and loss of
income, are paid by his/her own insurance company without concern for who was at fault. The right to sue may be restricted in some cases. |
