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Auto Insurance- Terminology You Should Know

Auto Insurance

Auto Insurance: Terminology You Should Know

What does the average consumer know about car insurance? Well, they know they need it. In 48 states (excluding Virginia and New Hampshire), it’s mandatory by law when owning or leasing a vehicle. Beyond that, there’s probably a lot regarding auto insurance missing from the average American’s lexicon. Since auto insurance is unique from other forms of insurance, in that you have to worry about liability for total strangers, their vehicles, and other property, it’s beneficial to possess a comprehensive understanding of all the industry terminology. Of course, understanding auto insurance terms is especially important when picking out a policy, as there are a wide variety of options for coverage based on different scenarios and geographical factors.

6 min read

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