At Crystal Insurance Agency we offer industry leading Auto Insurance policies at competitive prices to the entire Washington DC area. We are committed to helping you find the right policy for you, at the right price.
Twelve Top Definitions to Understand Within Your Auto Insurance Policy
The pages of fine print used to outline the various details of any auto insurance policy includes important details of coverage. To understand what is and is not taken care of in the event of an accident or other problem, it is important to understand the meaning of a variety of terms. As a policyholder, your most important concern is knowing what is covered and any circumstances affecting that coverage. Washington DC residents will find twelve of the most important definitions listed below.
- Accident Report Form: The law enforcement agency responding to the accident completes this formal report. It includes information about the accident, including road and traffic conditions, weather, and statements from witnesses and involved parties. Citations and conclusions by the reporting officer are also included.
- Bodily Injury Coverage: If you are found to be at fault in a collision, this provision covers medical costs for the other party or parties. It also addresses extra damages.
- Claim: This request is submitted to you auto insurance company. It is a request for reimbursement or payment for your damages.
- Collision Coverage: If your automobile is damaged due to a collision with an object or a rollover, the costs are covered under the collision part of your policy. A few examples of objects are fences, vehicles, and stop signs.
- Comprehensive Coverage: If your vehicle is stolen, hit by an animal, or suffers a loss by anything other than a collision, this coverage pays for damages.
- Coverage: This includes the amount of auto insurance and items eligible for claims against your policy. Most states, including Washington DC, require proof of financial responsibility before a car can be registered and licensed. This is typically covered by at least a minimum coverage policy, encompassing liability, no-fault protection and uninsured motorist coverage.
- Deductible: This is the amount you must pay towards a loss before your insurance company is liable. The deductible is one of the items negotiated on insurance policies to reduce premiums.
- Medical payment coverage: A limited amount of medical care and death benefits are provided to those injured or killed in a car accident. Fault is not an issue for this coverage.
- Premium: The cost of insurance coverage for the policy period. Payment plans are generally offered.
- Policy: A policy is the formal agreement between an insurance company and the policy holder. It outlines in detail what is covered and the premium for each item.
- Uninsured Motorists Coverage: This provision covers bodily injury to you, family members that live with you and other occupants of your car caused by a hit-and-run driver or an uninsured vehicle.
- Vehicle identification number: A unique number provided to every vehicle, the serial number, or VIN, is assigned at the factory. The model, make, manufactured date and other specific data is held within that number.