Insurance Dictionary

Auto Insurance

Automobile Liability Insurance - Protects you financially from legal liability for automobile related injuries to other people, or damage to other property.

Comprehensive - Pays for the repair or replacement of a vehicle in the event of damage not resulting from an accident. Common instances include theft, hail, fire, and vandalism.

Collision - Pays for the repair or replacement of a vehicle in the event of damage resulting from an accident.

Medical Payments - Part of an auto policy that pays medical expenses resulting from an accident. Payments are made regardless of fault for you and other riding in your vehicle. Medical payments also pays medical expenses for you or others in your family while riding in a non-owned vehicle or while injured as a pedestrian.

Physical Damage Coverage - Coverage for damage to your vehicle. Comprehensive and Collision are forms of physical damage coverage.

Underinsured Motorists Coverage - Coverage for bodily injury and property damage when an accident is caused by a motorist who has insufficient limits of insurance.

Uninsured Motorists Coverage - Coverage for bodily injury and property damage when an accident is caused by a motorist who does not have insurance.

Homeowners

Automobile Liability Insurance - Protects you financially from legal liability for automobile related injuries to other people, or damage to other property

Personal Property - Tangible property not classified as real property. Also referred to as Contents.