Insurance Terms & Coverage Details

Get General Insurance Terms and Coverage Info by Mr. Auto Insurance. Proudly serving Florida since 1978! Call (321) 452-5022 for general insurance quotes!

Since 1978, Mr. Auto Insurance has specialized in providing low cost insurance for cars, trucks, businesses and more! We’ve accomplished this by offering cheap insurance quotes from many of the top rated carriers in the industry. With over 100 years of combined general insurance background in our office alone, we hope you can look to us with confidence for help with all your insurance questions and concerns.

 
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Mr. Auto’s licensed professionals are always ready to help save you money. Give us a call today for a free insurance quote and learn how much you could save! Have questions about general insurance terms and coverages? Read more here.

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General Insurance Terms and Coverage

The general insurance terms, coverages and lingo can get tricky. And buying car insurance can seem daunting when you don’t know what the terms mean.

Medical Care
Medical costs for you, your passengers, or others injured in an accident.
Property Damage
Damage to property – not only your vehicle, but, for example, if you hit a fence or a lamppost, which would involve repairs.
Lawsuits
The potential for lawsuit – should a claim be disputed as to who is at fault, or if serious injury or damage occurs.

These necessary protections translate into specific types of insurance coverage. Here’s your list of the basic terms to get you started.

Liability Coverage
Protects your assets in case you cause injury to others or damage to the property of others with your vehicle. These monies pay towards expenses involved, or toward the costs involved in a lawsuit. There are two types of liability coverage – bodily injury, and property damage.
Bodily Injury Liability
Protects you if you are determined to be responsible for an accident in which someone is injured or a fatality occurs. This liability coverage takes care of medical expenses, lost wages, pain and suffering. These damages could run into the hundreds of thousands of dollars. If you don’t have enough insurance coverage, your assets (your home, bank accounts) are at risk in the case of a lawsuit.
Property Damage Liability
Covers the damage your vehicle causes to someone else’s property, including their vehicle, a storefront, fence or other structures. Again, if you are found at fault for causing the damage, you are responsible financially. Without sufficient insurance coverage, your bank account and other assets are at risk.
Collision Coverage
Pays for damage to your vehicle that is caused from a collision or vehicle rollover.
Comprehensive Coverage
Pays for damage to your vehicle caused by something other than a collision, such as theft or vandalism, fire, flood and hail.
Medical Payments Coverage
Covers the cost of doctors, hospitals and funeral expenses for you and/or your passengers which result from an accident, regardless of who is at fault. It also covers you when you drive another person’s vehicle (with permission) or if you or your family is struck by another vehicle as pedestrians.
Personal Injury Protection
Pays for medical care, lost wages and replacement services for the injured party. It pays regardless of who is at fault in an accident. The availability of Personal Injury Protection varies by state.
Underinsured Motorist Coverage
Pays for damages that exceed the amount of coverage carried by a driver with insufficient coverage to cover your damages.
Business Auto Insurance
Coverage for vehicles used for business. Liability limits and other coverage needs are different from personal auto insurance policies.
Hired and Non-Owned Auto Liability
Coverage option for commercial vehicle insurance that accommodates employees who may occasionally use their personal vehicles on company business. This special liability coverage comes into play, for example, when an employee uses his own car to pick up supplies for his employer, and gets into an accident. Many other examples apply.

Homeowners, Renters and Condo Insurance Terms:

Named Perils
Fire or Lightning, Windstorms or Hail, Explosion, Riot or Civil Commotion, Aircraft, Vehicle Damage, Smoke, Vandalism and Malicious Mischief, Theft, Falling Objects, Weight of Ice, Snow or Sleet, Accidental Discharge or Overflow of Water, Sudden & Accidental Tearing Apart, Freezing, Sudden & Accidental Damage, Artificially Generated Current, Volcanic Eruption.
Master Policy
The condo association master policy will protect those parts of the buildings and grounds not deeded to the condo owner as part of their unit.
Scheduled Property
This endorsement allows you to list and insure specific items which require more insurance than can be provided under the basic policy.
Replacement Cost Coverage
Coverage that pays the dollar amount needed to replace your damaged personal property or dwelling without deduction for depreciation up to the coverage limits displayed on the declaration page of the policy.
Loss of Use Coverage
Pays for living accommodations in a comparable home in the event of a loss that requires you to vacate your home during repairs or replacement.

If you have any general insurance questions about your policy or coverage limits, don’t hesitate to contact us today!

 
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Have Questions? Let Us Answer Them!

Mr. Auto’s licensed professionals are always ready to help save you money. Give us a call today for a free insurance quote and learn how much you could save!

Call – (321) 452-5022

Contact Us Today

Remember, if you need help with any general insurance questions or concerns, contact us today!Mr. Auto

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