{"id":889,"date":"2022-01-17T04:00:00","date_gmt":"2022-01-17T10:00:00","guid":{"rendered":"https:\/\/www.mymidatlantic.com\/blog\/?p=889"},"modified":"2022-02-04T16:58:42","modified_gmt":"2022-02-04T22:58:42","slug":"basic-terms-about-auto-insurance","status":"publish","type":"post","link":"https:\/\/www.mymidatlantic.com\/blog\/2022\/01\/17\/basic-terms-about-auto-insurance\/","title":{"rendered":"Basic Terms About Auto Insurance"},"content":{"rendered":"<p>Every car owner in Laurel, MD understands that insurance is important. However, insurance jargon can be confusing, which leads to some people making mistakes when buying. To make sure you understand a policy before buying, Mid Atlantic Insurance Financial helps you understand important insurance terms in the list below.<\/p>\n<ul>\n<li><strong>At-fault accident<\/strong>: This is an accident where you are either partially or fully liable.<\/li>\n<li><strong>Auto insurance quotes<\/strong>: This is an estimate of what the insurance company will charge you for buying insurance.<\/li>\n<li><strong>Claim<\/strong>: A request to your insurance company to cover the expenses resulting from an auto accident.<\/li>\n<li><strong>Premium<\/strong>: This is either the monthly or yearly cost of your auto insurance.<\/li>\n<li><strong>Underwriting<\/strong>: A process by the insurance company to evaluate how risky you are. It is based on factors like age, location, type of vehicle accident history, etc.<\/li>\n<li>Bodily injury liability coverage: A type of auto coverage that covers the medical expenses of a third party after they have been injured in an accident where you are at fault.<\/li>\n<li><strong>Collision coverage<\/strong>: It helps cover repairs to your vehicle from a collision accident such as hitting a tree or another vehicle.<\/li>\n<li><strong>Comprehensive coverage<\/strong>: Pays for any damage to your vehicle as long as damage is not collision-related. This includes losses like natural disasters, theft, and vandalism.<\/li>\n<li><strong>Limit<\/strong>: It is the maximum amount that your insurance policy will pay after an accident.<\/li>\n<li><strong>Deductible<\/strong>: The amount that the insurance company requires you to pay before they can start paying.<\/li>\n<li><strong>Policy<\/strong>: This is a contract stating the insurance coverage, terms, premiums, and deductibles.<\/li>\n<li><strong>Uninsured\/ underinsured motorist coverage<\/strong>: If you get hit by a driver who does not have insurance or their coverage is not enough to cover the resulting expenses, uninsured and underinsured coverage help cover those expenses.<\/li>\n<\/ul>\n<p>These are some of the basic insurance terms that you need to know about. Now that you understand, buying insurance should not be so difficult. You can also contact us at Mid Atlantic Insurance Financial of Laurel, MD, for assistance. We will break down the process for you, ensuring that you are aware of the policy you are buying.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Every car owner in Laurel, MD understands that insurance is important. However, insurance jargon can be confusing, which leads to some people making mistakes when buying. To make sure you understand a policy before buying, Mid Atlantic Insurance Financial helps you understand important insurance terms in the list below. At-fault accident: This is an accident [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[512,198],"class_list":["post-889","post","type-post","status-publish","format-standard","hentry","category-auto-insurnace","tag-laurel-md","tag-mid-atlantic-insurance-financial"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.10 - aioseo.com -->\n\t<meta name=\"description\" content=\"Every car owner in Laurel, MD understands that insurance is important. However, insurance jargon can be confusing, which leads to some people making mistakes when buying. To make sure you understand a policy before buying, Mid Atlantic Insurance Financial helps you understand important insurance terms in the list below. 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