This is the fifth installment of “10 Ways to Save Money on Your Auto Insurance”, which can be downloaded for FREE from www.culbertsonagency.com.
If you aren’t already familiar with the common terms in auto insurance
, now is a good time to learn. When you understand what type of coverage is available in different insurance policies
, you will be in a better position to decide how much you need. Arm yourself with this information and you may be able to save money on your policy!
Your auto insurance
policy is a contract between you and your insurance provider
. You agree to pay a premium, and in exchange, the company will protect you in the event of an automobile accident. So the insurance “premium” is best described as the amount of money you are charged for your policy.
is money that you will have to pay first, before the insurance company kicks in the rest. For example, if Joe has a policy with a $500 deductible and the damages to his car are $1250, then Joe will pay $500 and his insurance provider will pay the remaining $750 of the insurance claim.
coverage will protect you if your car is damaged in an accident with another vehicle. Even if you are at fault for the accident, your insurance will still cover you.
coverage protects you from things other than car accidents. If your vehicle is damaged from a natural disaster – like a storm or a fire – or if your car is lost or stolen, then comprehensive coverage will come into play.
“Property Damage Liability”
will cover repairs to another person’s car if you are responsible for the accident.
“Bodily Injury Liability”
coverage pays for things like medical bills or lost wages for those injured in an accident where you were held responsible for their injuries. It will cover other things like legal and court fees too.
“Uninsured and Underinsured Motorist”
coverage will pay for your medical bills if the driver who caused your injuries is uninsured.
If you would like to learn more tips on how to save money on your auto insurance
, simply click the eBook on the right to download it for free. If you have additional questions, please feel free to contact us online
or call 239-210-7700.