Every industry has its own unique and quirky jargon. Auto insurance is no exception. But first, exactly what is car insurance? Car insurance is a contract between you and your insurance company. By applying for coverage, you’re agreeing to pay an auto insurance premium to the insurance company. In return, that company agrees to pay covered costs associated with an auto accident once the deductible has been met under the policy terms.
There are various ways to customize your policy by making coverage selections to cover a number of different types of accidents and related issues.
Here are some more important auto insurance definitions to know and information about how they can help protect you in the event of the unexpected.