Friday 8 April 2011

Car Insurance, Insurance Policy

Collision coverage pays for damage to your car insurance caused by an impact with another vehicle or object or a rollover. Collision coverage includes a deductible, such $250 or $500. You are responsible for paying the deductible when you get the damage repaired. For example, if the damage was $1,500 and you have a $250 deductible, your company pays $1,250 toward the repair costs.

Combined Single Limit

Combined single limit (CSL) auto insurance policies have a single amount for liability payment limits for both property damage and bodily injury. This is in contrast to a split limit policy that has separate limits for bodily injury per person, bodily injury per accident, and property damage per accident.
Community Property
Marital property as defined by state law under which spouses own equal interests in property acquired during a marriage. This does not include property brought to the marriage or acquired by gift or inheritance.
Comprehensive Coverage
Comprehensive coverage pays for damage caused by hazards other than collision, such as fire, theft, explosion, windstorm, hail, water or contact with an animal. Like Collision coverage, Comp coverage includes a deductible, such as $250 or $500. You pay the deductible when you get the car repaired or replaced. For example, if the cost to replace your stolen car insurance is $10,000 and you have a $500 deductible, your company will pay you $9,500.
Comprehensive Loss Underwriting Exchange (CLUE)

Claims history database created by ChoicePoint. Insurance companies can access your claims information when underwriting or rating a policy. Includes information such as date of loss, type of loss and amounts paid, and vehicle description.

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