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At Kaplan Insurance Agency we offer industry leading Auto Insurance policies at competitive prices to the entire Hudson Valley including Wappingers Falls. We are committed to helping you find the right policy for you, at the right price.

Auto Insurance Policy Definitions You Need To Know

In the world of auto insurance, clarity is king because you must be familiar with your policy’s definitions. Otherwise, you could end up in some pretty disadvantageous situations. You don’t need a special degree to understand auto insurance policy definitions, although some terms can be quite confusing. The following are some of the most important policy definitions for New York auto insurance.

Accident report form: This is nothing more than the police report that includes details about the car accident, which covers parties involved, citations and circumstances.

Bodily injury coverage: This is for when you are at fault in a car collision. This pays for both the medical costs and additional damages for which you are responsible.

Claim: A claim is a request that is submitted to your car insurance company to either pay or reimburse you for any costs, damages or additional financial liabilities.

Collision coverage: This is coverage that pays for any physical damage to your automobile that is caused either by rolling over or a collision with another car or object. Objects can be things such as telephone poles, fences and buildings.

Comprehensive coverage: This is coverage that pays for damages to your car that stemmed from a loss other than a collision. Examples are theft, fire, vandalism or even contact with people, birds, falling objects and animals.

Deductible: A deductible is a portion for a covered loss for which you are accountable. This is opposed to the portion that the insurance company would normally pay. A higher deductible permits your insurance company to bring you lower premiums since you assume responsibility for a greater amount of loss.

Medical payment coverage: This is coverage that pays for reasonable medical costs or death benefits to anybody covered under a policy in the case of a car accident, regardless of fault.

Premium: The premium is essentially the amount that you pay for the insurance coverage. You can pay it monthly, quarterly, yearly or even based on various payment plans that you choose.

Policy: This is the written agreement between you and your car insurance company. It includes what said company is going to cover, the contract specifics, and the quantity you will pay for said coverage.

Vehicle identification number: The VIN is the serial number that is assigned by the car’s manufacturer. It reveals the car’s year, make, options, model and additional info that is unique to your automobile.

To discuss your needs for auto insurance in the Hudson Valley contact Kaplan Insurance in Wappingers Falls, NY.

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