What is an Anti-Theft Device in Car Insurance? An anti-theft device is any device used to prevent or deter the unauthorized appropriation of items considered valuable. It includes anything that reduces the likelihood that your car will be stolen or broken into, such as a steering wheel locking device or Read more
What is an Assigned Risk in Car Insurance? Assigned risk is a type of automobile insurance plan designed to help high-risk drivers get automobile insurance coverage to put them in compliance with their state’s automobile insurance requirements. Companies who wish to sell insurance in a state will be assigned these Read more
What Is Bodily Injury in Car Insurance? Bodily injury insurance is one component of most types of car insurance policies. Bodily injury is a form of liability insurance, which means it provides financial protection for claims made against the policyholder if he or she causes an accident or damage to Read more
What Is Collision Insurance in Car Insurance? Collision insurance is insurance that helps pay for damages to your vehicle if you cause an accident that damages it. The most common way collision insurance can work for you is by covering the damage to your vehicle if you backup or otherwise Read more
What is Comprehensive Coverage in Car Insurance? Comprehensive coverage is an optional policy add-on that helps protect your vehicle against damage not resulting from a collision, which might include things like fire, vandalism, and falling objects. For example, a hurricane might cause a tree to fall on your car and Read more
What Is a Deductible in Car Insurance? A deductible is a portion of money the vehicle owner is responsible for when a claim is made. This is the portion you, as the car’s owner, have to pay before the insurance company covers the rest of your claim. Deductibles range in Read more
What Is Gap Insurance in Car Insurance? Gap insurance provides financial protection for instances in which your vehicle’s current worth is less than what you owe on a loan for that vehicle. Commonly used when a driver purchases a new car, gap insurance helps reduce the financial risks associated with Read more
What Is an Insurance Appraiser in Car Insurance? An insurance appraiser is a licensed professional who provides insight into the cause, type of repair, and the cost to repair after a covered incident occurs. Your insurance company hires an appraiser (or using an in-house professional) to come to your home Read more
What is an Insurance Adjuster in Car Insurance? If you ever need to file a claim on your auto insurance policy, there’s a good chance you’ll deal one-on-one with an insurance adjuster. Also commonly referred to as a claims adjuster, these professionals work for your insurance company to handle and Read more
What Is Insurance Arbitration in Car Insurance? In most car accidents, the person at fault is responsible for paying for the losses of the other. In some cases, that blame can be divided. In other cases, there is a dispute about how much money the claim should be. When there Read more