Diving into the world of auto insurance can be overwhelming, especially when you’re faced with industry-specific jargon. But don’t fret, South Lake Insurance, Inc., a leading agency located in Trenton, GA, is here to make it simple for you!
Key Terms in Auto Insurance
- Premium: This is the amount you pay to the insurance company to keep your policy active. It’s usually paid monthly, bi-annually, or annually.
- Deductible: This is the amount you have to pay out-of-pocket towards a loss before the insurance company starts to cover costs. It’s often a fixed amount.
- Claim: When an accident happens, and you ask the insurance company to cover the associated costs, this request is known as a claim.
- Limit: This is the maximum amount the insurance company will pay for a claim or the policy period.
- Coverage: This term refers to the specific protection provided under the insurance contract.
These are just some of the terms you’ll find in an auto insurance policy. Also, remember that every policy has different terms and conditions, so it’s essential to read your policy carefully and ask questions. South Lake Insurance, Inc., a trusted insurance agency in Trenton, GA, is always ready to assist you in understanding your auto insurance coverage and ensuring you’re aptly protected on the road.
