Automotive insurance terms for Chicago can be confusing. You may not be familiar with the terms used to explain the coverage you need. The more you understand, the easier it will be to make sure you are getting the proper coverage for your auto insurance needs. Here are some automotive insurance terms Chicago residents need to familiarize themselves with in order to understand policy coverage:
Bodily Injury
Bodily injury coverage pays for injuries to people in other vehicles if you cause an accident. If you cause bodily harm to another party involved, this coverage pays for their medical bills up to the limits listed on your policy.
Property Damage
Property damage covers damage to another person’s property if you cause an accident. Property damage includes other vehicles, buildings, and state property like guard rails or telephone poles.
Comprehensive
Comprehensive coverage handles damage caused to your vehicle from incidents that you are not responsible for causing such as hail damage, when you hit an animal in the road, if a tree falls on your car, or flood damage. There is usually a deductible that you have to pay out of pocket and the insurance covers the difference in these types of losses.
Collision
Collision coverage handles damage to your vehicle if it hits another vehicle or property in an accident. You may have a collision deductible that you pay out of pocket and the insurance pays the rest in a collision claim.
Uninsured/Underinsured Property Damage
If you are hit by a driver that does not have insurance or does not have enough insurance to cover an accident for which they are responsible, uninsured or underinsured property damage is the auto insurance coverage that pays for your damage to your vehicle.
Medical Payments Coverage
If passengers or the driver of your vehicle are injured in an accident, medical payments coverage handles the medical bills or funeral costs incurred in the accident up to the limits of the policy.
Insurance is coverage is set up to protect you from financial difficulties if you are involved in an accident. Knowing your coverage and automotive insurance terms for Chicago can help you understand what you need to protect yourself and your family.
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