Posted: 28 Feb 2012 04:39 PM PST

The formula for determining your auto insurance rates is a long and complex one that even rocket-scientists would have a hard time cracking. As more studies are done and more data is analyzed, however, a strong correlation between your income and the amount you pay for insurance is starting to be discovered. There are lots [...]

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How Does Your Income Affect Your Insurance Rates?

Posted: 28 Feb 2012 08:34 AM PST

A deductible is the amount specified in an insurance policy, by the insurance company that the policy holder will need to pay themselves in the event that they make a claim against their insurance policy. In many ways a deductible is similar to the copayment on health insurance but it is normally a fixed cost [...]

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Deductible

Death Benefit

Posted: 28 Feb 2012 08:30 AM PST

A death benefit on your insurance policy is an amount of money that may be paid out in a single lump sum or sometimes over a period of time in annuitized installments, in the event of your death during the period of coverage of your policy. Who will receive the money? A death benefit can [...]

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Death Benefit

Insurance Declarations

Posted: 28 Feb 2012 08:22 AM PST

Insurance contracts are complicated documents and they usually contain many pages of complicated legal language, in order to protect both the client and the insurer. However this material does not make for the easiest of reading, and in order to save time the key points of the policy and information relating to both the customer [...]

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Insurance Declarations

4insure

Coverage Area
Coverage
Cost of Living Adjustment (COLA)
Copayment

Coverage Area

Posted: 27 Feb 2012 09:08 AM PST

The coverage area of an insurance policy is the geographical area in which the insured party is able to benefit from the insurance coverage. Typically for auto insurance cover this will either be on a state basis, on a United States basis, or a North American basis. This will depend on the type of coverage [...]

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Coverage Area

Coverage

Posted: 27 Feb 2012 09:00 AM PST

The coverage of an insurance policy is the monetary amount which may be paid in benefits by the insurer to the insured party in the case of a claim against that policy. The coverage may be split into different amounts for different eventualities and it may be limited on a per-claim or per-policy basis. What [...]

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Coverage

Cost of Living Adjustment (COLA)

Posted: 27 Feb 2012 08:49 AM PST

A cost of living adjustment is the increase in a wage or benefit that is applied on an annual or other regular basis that enables the wage or benefit to maintain the same level of purchasing power. Why is a cost of living adjustment necessary? In general everything becomes more expensive from year to year, [...]

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Cost of Living Adjustment (COLA)

Copayment

Posted: 27 Feb 2012 08:40 AM PST

Copayment (sometimes abbreviated to copay in insurance documentation) is a payment that is usually laid out in a health insurance policy. This copayment will be made by the insured party every time an individual accesses health care. In legal terms copayment is similar to coinsurance (where both parties – the insurer and the policy holder [...]

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Copayment

4insure

Comprehensive Insurance
Commission
Commercial Lines Insurance

Comprehensive Insurance

Posted: 26 Feb 2012 08:42 AM PST

Comprehensive insurance when applied to auto insurance in the United States is insurance which offers a level of cover that covers a large range of risk possibilities. Unlike automobile liability insurance which is the minimum level of coverage that is required by most states, comprehensive insurance is not limited to 3rd party damage coverage and includes [...]

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Comprehensive Insurance

Commission

Posted: 26 Feb 2012 08:36 AM PST

When you buy your auto insurance it will normally be through: an insurance agent (someone who typically works on behalf of an insurance company – they are contractually bound to an insurer or insurers, and they are required to offer the right coverage from within this range) an insurance broker (someone who typically works on [...]

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Commission

Commercial Lines Insurance

Posted: 26 Feb 2012 08:33 AM PST

Commercial lines insurance is a policy designed by the insurance company to cover a business for their insurance needs, these policies can be quite complex and some larger businesses will use a combination of policies to offer the best value rather than working with a single insurer. In US Auto Insurance terms, commercial lines insurance, [...]

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Commercial Lines Insurance

4insure

Collision Insurance
Coinsurance
Vehicle History And Auto Insurance Rates
Insurance Claim
Casualty Insurance

Collision Insurance

Posted: 24 Feb 2012 07:40 PM PST

Collision insurance in the United States is an insurance policy for a vehicle which covers the owner for the loss or damage of their vehicle in the event of an accident. If the owner does not have collision insurance they are liable for the costs of repair or replacement of the vehicle and not the [...]

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Collision Insurance

Coinsurance

Posted: 24 Feb 2012 07:35 PM PST

In some cases an insurer and the policy holder agree to share the risk involved in a policy. Coinsurance is where the client and the insurer each assume a portion of the risk in the event that a benefit is paid. It normally works like this – the client will pay their deductible first and [...]

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Coinsurance

Vehicle History And Auto Insurance Rates

Posted: 24 Feb 2012 11:47 AM PST

One of the major things auto insurance companies look at when determining your insurance premiums is your vehicle’s history, most notably: Has it been in any accidents? How many? How many times has it been in for repairs? Insurance companies will look at a vehicle history report (looking up each vehicle using its VIN number) [...]

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Vehicle History And Auto Insurance Rates

Insurance Claim

Posted: 24 Feb 2012 08:35 AM PST

The definition of a claim is when an insured party asks the insurer to pay out for an eventuality that is covered by their auto (or other) insurance. This involves following a procedure set down by the insurer for proper notification regarding a claim. What is the process for making a claim? This procedure can [...]

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Insurance Claim

Casualty Insurance

Posted: 24 Feb 2012 08:31 AM PST

Casualty insurance is a specific instance of risk coverage from your insurer that insurers you against the specified instances of casualty or a general category of casualty. What exactly is meant by casualty? Simply put, casualty is the loss or damage incurred in financial terms by an accident for which the insured party is held [...]

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Casualty Insurance

4insure

Casualty
Capital
Insurance Broker-Agent
Insurance Broker
Benefit Period

Casualty

Posted: 23 Feb 2012 06:53 PM PST

In layman's terms a "casualty" in terms of US Auto insurance, is any damage or incurred loss to property, a property owner or an individual or individuals. Casualty is the reason for auto insurance and your policy will be defined in terms of casualty eventualities and the benefits applicable to those casualties. What kind of [...]

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Casualty

Capital

Posted: 23 Feb 2012 06:49 PM PST

In general terms the "capital" of a company is the total equity of the shareholders of a "stock" insurance company. This figure can be calculated in terms of the difference between the insurance company's assets and liabilities. Why is capital an important part of understanding an insurance company? The capital value of an insurer represents [...]

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Capital

Insurance Broker-Agent

Posted: 23 Feb 2012 04:06 PM PST

An insurance broker-agent is different from both an insurance broker and an insurance agent, not by any legal definition but by custom and practice. The insurance broker-agent is engaged on a contractual basis by either a single insurance entity or a group of insurers. Their primary purpose is to represent those insurers to their clients [...]

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Insurance Broker-Agent

Insurance Broker

Posted: 23 Feb 2012 04:01 PM PST

An insurance broker (or agent) is an entity that represents an insurance company (or companies) as a retail level. The job of an insurance broker is to attract customers and present options to prospective clients to meet their insurance needs. Once engaged, an insurance broker works with the client to collect all their personal data [...]

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Insurance Broker

Benefit Period

Posted: 23 Feb 2012 11:51 AM PST

The benefit of any auto insurance is the amount an insurer will pay out in the event of any given claim. This sum varies depending on the specific claim made and the terms and conditions of your policy. The benefit period is very simply the period of specific coverage under your policy, during which a [...]

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Benefit Period

4insure

Anti-Theft Recovery Systems
Annuitization
Aggregate Limit
Benefit
Automobile Liability Insurance

Anti-Theft Recovery Systems

Posted: 22 Feb 2012 04:02 PM PST

All over the world and in the United States auto theft is a serious and rapidly increasing problem. In order to deal with this issue, more and more vehicle owners are turning to anti-theft recovery systems. These allow for peace of mind, as the device is installed in your vehicle and in the unfortunate event [...]

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Anti-Theft Recovery Systems

Annuitization

Posted: 22 Feb 2012 03:54 PM PST

There are insurance products into which you pay into either in a lump sum or over a period of years at either a fixed or variable rate, which yield a lump sum at the end of the period of coverage. This lump sum is known as an annuity. This annuity may be more or less [...]

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Annuitization

Aggregate Limit

Posted: 22 Feb 2012 03:41 PM PST

In insurance terms, an aggregate limit is a defined threshold that shows the maximum payout of a policy over the lifetime of the policy. In auto insurance this period is usually but not always one year. The aggregate limit is there irrespective of the number of claims made during the limit, once this threshold is [...]

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Aggregate Limit

Benefit

Posted: 22 Feb 2012 08:01 AM PST

The benefit of an insurance policy is very simply the amount of money that your insurer can pay out in the event of a claim against that insurance. Specifically it is the contractual payout that is agreed to by the insurance provider in the event of a claim by the policy holder. So the benefit [...]

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Benefit

Automobile Liability Insurance

Posted: 22 Feb 2012 07:52 AM PST

Automobile liability insurance provides coverage to the purchaser for any liabilities they may occur during the course of an accident when they are at fault. In most states it is mandatory for a drive to carry, at a minimum, some form of automobile liability insurance. What are the usual terms of automobile liability insurance? In [...]

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Automobile Liability Insurance

4insure

Assets
Going Through Your Insurance Company To Get Repairs Done
Adjustable Rate

Assets

Posted: 21 Feb 2012 06:53 PM PST

From a financial perspective, especially for accounting purposes, assets are the economic resources available to an individual or business. They include anything that is tangible (or physical) and anything intangible (intellectual) that can be considered to have a positive economic benefit. In basic terms assets are those resources which can easily be converted into cash, [...]

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Assets

Going Through Your Insurance Company To Get Repairs Done

Posted: 21 Feb 2012 11:56 AM PST

How To Go Through Your Insurance Company To Get Repairs Done To Your Car Getting repairs done to your vehicle in the wake of an accident can be difficult and confusing, depending on your insurance provider. To minimize the headache involved with getting these repairs done, here is what you should do following the event [...]

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Going Through Your Insurance Company To Get Repairs Done

Adjustable Rate

Posted: 21 Feb 2012 09:36 AM PST

An adjustable rate life insurance policy lets the policy holder vary their coverage and premiums based on their current lifestyle and family needs or commitments. It's possible to change many variables in adjustable rate plans including the "face value" or "total value" of the policy as well as the coverage period or the amount paid [...]

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Adjustable Rate

4insure

Insurance Agent
Admitted Assets
Adjuster

Insurance Agent

Posted: 20 Feb 2012 03:24 PM PST

An insurance agent or broker is someone who represents the insurance company at the retail level, their job is to engage with customers and offer choices to the prospective buyer that meet their insurance needs. The insurance agent works with the client to collect raw data for risk analysis on their policy, and also to [...]

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Insurance Agent

Admitted Assets

Posted: 20 Feb 2012 08:33 AM PST

Generally in business, admitted assets are the economic resources available to that business with either tangible or intangible substance. In practice this applies to the anything that works towards production value and is owned. Cash is also an asset, and asset values are symbolized by cash values. Examples of tangible assets, are things like buildings [...]

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Admitted Assets

Adjuster

Posted: 20 Feb 2012 08:18 AM PST

An adjuster or more properly a claims adjuster (and in some parts of the world "a loss adjuster") is someone who is able to assist the policyholder and/or the insurance company in assessing the value of a claim and to investigate the claim itself. In the auto insurance industry in the US a claims adjuster [...]

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Adjuster

4insure

Actuary
Actual Cash Value
Accidental Death Coverage

Actuary

Posted: 19 Feb 2012 08:41 AM PST

An actuary plays a large role in the cost of your auto insurance policy. Actuaries are financial professionals who specialize in the areas of risk and uncertainty. They provide your insurer with expert advice and insight into the assessment of all their financial products and focus on understanding the complexity of insured risk through mathematical [...]

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Actuary

Actual Cash Value

Posted: 19 Feb 2012 08:26 AM PST

Actual cash value is a way for your insurer to ensure that you receive fair compensation for a damaged or destroyed vehicle, and any property involved in the accident. It is a standard methodology employed by insurance companies that allows the insurer to value the insured property. It is calculated through taking the value of [...]

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Actual Cash Value

Accidental Death Coverage

Posted: 19 Feb 2012 08:15 AM PST

Accidental death coverage and dismemberment coverage are an important part of an insurance offering. This form of insurance pays benefits in the event that you are seriously injured or die in an accident. It is paid out in addition to any other life insurance you may have, and is sometimes known as double indemnity insurance. [...]

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Accidental Death Coverage

4insure

Hit An Animal With My Car – Will My Insurance Cover These Damages?

Posted: 18 Feb 2012 10:57 AM PST

It really sucks to be driving on the road and to suddenly strike an innocent animal. Be it a deer, dog, cat, moose, mountain lion, turkey, or any animal for that matter; nobody likes to see a cute little creature suffer at the hand of their vehicle. Unfortunately, sometimes these accidents are inevitable. If you [...]

Post from: 4insure

Hit An Animal With My Car – Will My Insurance Cover These Damages?

4insure

Who Is At Fault When Your Car Gets Rear-Ended?

Posted: 14 Feb 2012 10:27 AM PST

Rear end accidents are one of the most common types auto accidents in the world. No matter whatever the extenuating circumstances may be, the driver of the car who gets rear-ended is at an advantage when it comes to determining blame. In most situations, the rear-ended vehicle's owner can argue that the rear-ender has been [...]

Post from: 4insure

Who Is At Fault When Your Car Gets Rear-Ended?

4insure

Will My Insurance Pay For A Cracked Windshield?

Posted: 07 Feb 2012 01:26 PM PST

If you put in serious mileage on your vehicle, it’s bound to happen to you sooner or later – a cracked windshield. One moment you're enjoying the relaxing drive down the freeway, and before you know it, you hear knock and a crack magically appears on your windshield. There are a myriad of reasons why [...]

Post from: 4insure

Will My Insurance Pay For A Cracked Windshield?

4insure

Getting The Actual Cash Value Of Your Vehicle

Posted: 06 Feb 2012 07:54 AM PST

Finding the Actual Cash Value (ACV) of your vehicle is an art in itself – the market value may be one figure for one insurance company, and another figure for another insurance company. Indeed, with so many different factors affecting an insurance company's judgment on a vehicle's ACV, it is no wonder why different companies [...]

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Getting The Actual Cash Value Of Your Vehicle

4insure

Do The Disabled Pay More For Car Insurance?

Posted: 04 Feb 2012 11:25 AM PST

In 1990, the United States passed the Americans with Disabilities act to prohibit the discrimination of people with disabilities. This act extends itself into many facets of society, including auto insurance. It prohibits auto insurance companies from raising insurance rates of the disabled, denying them coverage, or giving them higher insurance quotes. (In cases of [...]

Post from: 4insure

Do The Disabled Pay More For Car Insurance?

4insure

What To Do When The Car Accident Is Not Your Fault

Posted: 02 Feb 2012 05:07 PM PST

In a car accident, most people will know who's at fault – the other party! Very few will state upfront that the accident is their fault – human beings place self-preservation foremost, after all. However, if the car accident is really not your fault, what should you do if the offending driver refuses to back [...]

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What To Do When The Car Accident Is Not Your Fault

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