Auto insurance in Pasadena can be confusing with all of their insurance jargon, but with this useful auto insurance translator, you will know what you get.
Auto insurance policies are filled with specialized insurance language. Although you may think they are trying to confuse you, they are actually trying to make it shorter and more comprehensive for everyone. Instead of taking up an entire paragraph to explain a certain incident, they shorten it to one insurance word–many of which you may have never heard. If you want to understand your auto insurance policy, you have come to the right place. Here is the translator for auto insurance in Pasadena (and around the nation) that will translate insurance jargon to plain ol’ English.
An insurance company employee that inspects the accident and injuries caused by the accident and gives the a-okay on claims payments.
The request that the insured (you) makes to the insurance company for payment under the terms of your policy.
Coverage that covers damage done to your car after colliding with another car or object (e.g. light post, tree, etc.) and you are at fault. Collision coverage does not cover normal wear-and-tear, but does cover potholes.
Coverage that covers damage done to your car by non-car objects. Things like fire, vandalism, flood, falling rocks and tree branches and light posts.
Before your car insurance steps in to cover the big portion of the repair, you must pay some out of your own pocket first. For example, if your deductible is $400 and the repair will cost you $1,000, you will pay $400 and the auto insurance company will pay $600.
As soon as you drive your car off the lot, it depreciates in value. If you lease, you will be responsible for paying off the whole amount. The thing is because your car depreciated, your auto insurance company will only pay out the actual market value. So there will be a difference you will still have to pay.
The legal way of telling you the accident was your fault and it is your responsibility to pay. Luckily liability insurance is mandated by every state, so you won’t have to remember about this one. What you do need to look into is the amount of coverage you need.
This is your monthly payment for coverage. It is based on your driving history, age, car make and model, and a few other factors.