Cheap Auto Warranty
Ten Most Common Car Insurance Terms
Car insurance terminology might seem complex to those who are not familiar with cars. If you have some difficulties understanding auto insurance terms, this article might be useful for you. Here is the ten most common car insurance terms.
1) Agent An agent is an individual who works for himself or for a company and who sells insurance. Agents are usually paid on a commission basis. When you sign a contract for car insurance, you will always deal with an agent. Be careful before choosing an agent because some agents charge more than others. 2) Anti-theft device An anti-theft device is a device that protects your car against thieves. The most common anti-theft device is the alarm. Although anti-theft device are not cheap, they can help you get a discount on your car insurance and are effective against thieves. 3) Claimant Claimant is one of the most common car insurance terms. A claimant is an individual who makes a request to its car insurance company when its car was damaged. 4) Coverage This auto insurance term represents the things you can and cannot claim to your car insurance company. Coverage is almost always mentioned in the contract for your car insurance. Before signing a contract, you should always read the coverage policy in the contract. 5) Declarations You can find declarations in the contract for your car insurance. Declarations represent the part of the contract that includes your personal information such as your name, your address and your phone number. 6) Exclusions The contract for your car insurance probably has exclusions in it. Exclusions represent the things that are not cover with your car insurance. 7) Indemnification An indemnification represents the things you will get from the company that has signed a contract with you concerning your car insurance. An indemnification can represent an amount of money or an object. 8) No-fault If this term is in the contract for your car insurance, it means that whoever cause an accident with the car will not be held responsible for the company. In other words, if there is a no-fault policy in your contact, your monthly fee won't drastically increase if you cause an accident while you were driving the car mentioned in the contract for your car insurance. 9) Occurrence Occurrence is a term used when the claimant fills a report for his car. The term occurrence signifies the event that is responsible for the damage to your car. Depending on what the occurrence was, your indemnification might increase or decrease. 10) Warranty Companies that sell insurance often include a warranty in the contract they make you sign for your car. This warranty represents, for your car insurance, a guarantee of the integrity of your car. Sources: TheSite, Insurance, Your guide to a real word Wisegeek, Indemnification, Clear answer for common questions eHow Cars Editor, Anti-theft device, How To Do Just About Everything By Luc Oak -Next page: Cadillac Extended Warranty
Bookmark/Share This Page:
|
|
|
|
Cheap Auto Warranty News
Introducing the Government-Backed DMV Automotive Repair Center! (Best choice)...
21 Apr 2011 at 1:43am Introducing the Government-Backed DMV Automotive Repair Center Best choice tags: automakers_bailoutauto_warrantychryslerdetroitdmvEntertainmentgeneral_motorsFunnyHumorClips
Read more...
Elite Auto Warranty
3 Nov 2010 at 8:33pm Get your warranty for your car Don't forget to share with me in my blog tags: car_insurancecar_quotesauto_warrantyTechnologyRead more...
