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Understanding CarInsurance Quotes

Collecting quotes for affordable insurance in West Palm Beach won't do you any good if you don't understand some of the essential auto insurance terms. Here are some of the most common auto insurance terms and their definitions to help you along.

Liability Coverage

Liability coverage is the Understanding Car Insurance Quotes coverage option that will pay for bodily injury and any damage to property that was caused in an accident where you were at fault. Make sure that this is set at an amount that will keep you from being personally responsible for any portion of the damages.

Medical Payments Coverage

Just as it sounds, medical payments coverage is the insurance term used to describe the coverage that pays for any medical expenses that you or your passengers incurred. Medical payments coverage will cover these payments regardless of who was at fault.

Uninsured and Underinsured Motorist Coverage

Underinsured/uninsured motorist coverage protects you from liability if you are injured or your property is damaged in an accident where the other motorist is either not carrying sufficient coverage or does not have insurance coverage at all.

Collision Coverage

If you have your vehicle financed, or if you have a very valuable car, then you probably should elect to receive collision coverage on your auto insurance plan. This coverage option pays for damage to your vehicle. Your lender may require this if you have your vehicle financed.

Comprehensive Coverage

Unlike the other coverage options listed above, comprehensive coverage is not intended to protect you or your property in the event of an accident. Comprehensive coverage covers damage and loss that results from theft, vandalism, or fire.

Saving money on your auto insurance and understanding your policy better means understanding some of the key terms commonly used by insurance agencies. Make sure you know a little bit about it when you are on your quest for affordable insurance in West Palm Beach.

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