![]() ![]() According to 2004 data from the National Association of Insurance Commissioners, 77 percent of insured drivers carry this coverage. The price of comprehensive insurance is affected by the risk of loss, meaning the likelihood that an insured car will be stolen or damaged, and the car's value at the time of the loss. Examples include: hail damage, glass breakage, fire, vandalism, damage from an animal, flood, earthquakes, falling objects and theft. Optional coverage for when your car is stolen or damaged in ways that don't involve a collision. According to 2004 data from the National Association of Insurance Commissioners, 72 percent of insured drivers carry this coverage. It doesn't cover whatever the car collided with (that's what your property damage liability is for). ![]() It also can come into play if you hit a pothole that severely damages your car. Optional coverage for when your car is damaged as a result of colliding with another object-a brick wall, for example, or a rollover. This coverage is required in Colorado, New Mexico, Utah and Wyoming. See explanation of limits, above.īI pays for injuries to other people when the insured vehicle's driver is legally at fault. This is a general term that covers bodily injury (BI) liability and property damage (PD) liability. In other words, coverage in case you cause an accident where there is either physical or property damage to other people. Protection in case others hold you legally responsible for bodily injury and/or damage to property losses incurred as the result of a motor vehicle accident. Most states require a mandatory minimum amount and insurance companies offer the option to purchase more. They represent (in the $ thousands) your liability limits for per-person bodily injury, bodily injury for all persons injured in any one accident, and property damage liability. You will see three numbers when you are buying liability coverage. Here is a translation of some basic insurance lingo: If you feel like you need to take a foreign language course to "speak insurance" don't worry, you're not alone! But, you need to at least understand the basic auto insurance terms because they spell out what you are and aren't covered for in your policy. Your car insurance is really six separate policies-some are required, others optional-carefully weigh your risks when buying protection for you and your family. CO Insurance Consumer Satisfaction Poll. ![]()
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