Automobile Insurance Vocabulary Name: Bodily Injury Liability: Collision: Comprehensive Coverage: Deductible: Insurance Policy: Insured: Insurer: Liability:



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Automobile Insurance Vocabulary

Name: ______________________________________

Bodily Injury Liability:

Collision:

Comprehensive Coverage:

Coverage:

Deductible:

Insurance Policy:

Insured:

Insurer:

Liability:

Medical Payments:

Peril:

Policyholder:

Premium:

Replacement Cost:

Risk:

Automobile Insurance Vocabulary--Key

Name: ______________________________________

Bodily Injury Liability: In auto insurance, liability coverage that pays for physical injury to people in other vehicles
Collision: The act or process of colliding; a crash or conflict.

Comprehensive Coverage: Insurance designed to pay for the repair or replacement of the policy owner's car in the event of damage not resulting from an accident.

Coverage: Coverage against a specific type of loss

Deductible: The amount the insured pays on a claim before the insurer pays the remainder

Insurance Policy: A contract written to protect individuals named in the policy against specific future losses

Insured: An individual, usually but not always the buyer, covered by an insurance policy

Insurer: The company or agency that writes an insurance policy

Liability: Legal responsibility

Medical Payments: Auto insurance coverage can help to provide medical payment for treatment of bodily injury.

Peril: A cause of loss

Policyholder: The owner of an insurance policy

Premium: Payment made by the insured to the insurer

Replacement Cost: What it would cost to replace a piece of property, or rebuild a structure

Risk: A situation in which some kind of loss is possible


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