Dallas, Texas (PRWEB) September 06, 2012
A recent study shows many consumers don't even know what half the insurance terms mean when reviewing their policies. Understanding insurance rules is difficult enough, but how does one achieve the cheapest car insurance rates if they don't know what most of the terms really mean?
CarInsuranceQuoteUSA.com reveals the most common insurance terms that confuse most consumers.
At-Fault - When an accident happens the driver who causes the accident is considered 'at-fault'
No-Fault - Insurance coverage that does not place blame on a particular driver. Costs will be covered even if the driver was considered 'at-fault'. This coverage is not available in all states.
Deductible - The amount the driver is willing to pay when insurance claims arise. The amount chosen by the policy holder is deducted from the total cost of repair. Many drivers opt for a higher deductible to reduce their overall cost.
Liability Only - When a driver chooses to only have physical damage and bodily injuries as a result of a collision covered on the policy, leaving out other coverage such as comprehensive coverage.
Comprehensive coverage - Is the damage of or loss of your vehicle as a result of causes other than accidents including natural disasters, fire, theft and vandalism.
Rental Car Insurance - When an insurance company offers coverage for rental cars. Many drivers remove this option to save because they don't rent cars often.
Underwriting - Insurance companies always consider the consumers history both for the amount of risk and exposure on the road. Once they assess the consumers needs they decide the level of insurance provided.
Total Loss - Some use the term 'totaled' to describe when the cars expense to repair the damages exceeds the cost to buy the car at its pre-accident value.
Knowing these terms will better prepare consumers when comparing rates online so they can get the most optimal car insurance coverage available to them.
CarInsuranceQuoteUSA.com is proud to serve America with their free to use car insurance quote tool. Consumers can save up to 40% on their policies by taking the time to simply enter their zip code and review the results.
Earlier this week CarInsuranceQuoteUSA.com was proud to release the launch of InsuranceSearchUSA.com which will remain on the same network but offer more insurance coverage options, including auto insurance.