barbour online shop 10 commonly used terms in auto

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Bethany Collins is a mother of two who works from home and lives with her husband. She is voracious reader and always looks out for happening topics related to personal finance. She specializes on subjects related to car insurance and uses her spare time to write on topics related to classic auto insurance and home auto insurance, renters insurance etc.
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10 commonly used terms in automobile insuranceArticle Summary: This article will discuss some of the most commonly used terms in auto insurance. This is to get you understand auto insurance better so that you can make well-informed decisions about buying auto insurance. [url=http://www.osterblade.com]moncler sito ufficiale[/url]
You don't necessarily have to be a new driver to realize that you might not be entirely familiar with all [url=http://www.osterblade.com]moncler outlet[/url] the terms used in automobile insurance. Here's a simple breakdown of commonly used terms to help you get acquainted with them.
Replacement Cost (RC):
Replacement cost is the cost to repair or replace an [url=http://www.gotprintsigns.com/abercrombiepascher/‎]abercrombie soldes[/url] insured automobile. This will pay the full cost to repair an automobile or buy a new one to replace the damaged automobile at the time of loss.
Actual Cash Value (ACV)
Actual cash value is the amount paid to a policyholder following the loss or damage to an insured vehicle. In case of an automobile accident, for instance, the insurance company pays the actual cash value after determining its replacement cost and subtracting factors such as wear and tear and depreciation from it.
First accident forgiveness
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Agreed value
Agreed value is a policy offered to owners of collectible, antique, vintage or custom automobiles that do not depreciate [url=http://www.teatrodeoro.com/hollisterde.php]hollister[/url] in value as an average car does. Before your policy kicks in, you and your insurance provider come to an understanding about the value for your vehicle (or "agreed value"). This is what will be paid to you should [url=http://www.gotprintsigns.com/abercrombiepascher/‎]abercrombie pas cher[/url] your car be totaled in the event of an accident instead of actual cash value.
Deductible
Deductible is the amount of money the customer agrees to pay upfront towards damages in the event of an automobile accident. The remainder is paid by the insurance company up to the policy limit.
Defensive driver discount
These are classes offered by the local Department of Motor Vehicles (DMV) to promote safe and cautious driving. Takers of this course might be eligible for a discount on their premiums through their insurance providers.
Personal injury protection
Personal Injury Protection (PIP), sometimes also referred to as "no-fault" coverage can be bought as an additional coverage to your auto insurance policy and applies no matter who is at fault (although there ARE some cases where it doesn't apply). Personal Injury Protection usually pays for medical expenses, loss of income from work, essential services, accidental death, funeral expenses and other expenses associated with accidents.
Property damage liability
As the name suggest, property damage liability pays for damage caused to someone else's property or car resulting from an accident for which you are at fault. It covers all costs related to car repair, right from labor to replacing damaged parts and anything else that might have been hit in the accident. It's always a good idea [url=http://www.jeremyparendt.com/Barbour-Paris.php]barbour pas cher soldes[/url] to invest in property damage liability because you never know when you might be involved in an accident and this coverage can help you pay for your mistake.
Underwriting
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Uninsured/underinsured motorist coverage
Uninsured motorist coverage pays for damages caused to your car in the event that you're involved in a car accident with a driver who does not have insurance, up to your policy limit.
Getting yourself familiarized with the terms associated with auto insurance helps you make a well-informed, [url=http://rover.ebay.com/rover/1/711-53200-19255-0/1?campid=5336182395&customid=pubster&toolid=10013&mpre=http%3A//cgi.ebay.com/ebaymotors/4x-24CM-PVC-LED-CAR-TRUCK-FLEXIBLE-NEON-LIGHT-STRIP-RED-/320609712722]woolrich sito ufficiale Few S[/url] sound decision about getting a policy that will work well to suit your requirements; and hopefully this article will help you do just that!
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