Vehicle insurance definition

DEFINITION of 'Auto Insurance'. A policy purchased by vehicle owners to mitigate costs associated with getting into an auto accident. Instead of paying out of. Motor Insurance Definition: A motor insurance policy is a mandatory policy issued The law mandates that every owner of a motor vehicle must have one motor. Motor vehicle insurance, also called automotive insurance, a contract by which the insurer assumes the risk of any loss the owner or operator of a car may incur. Our guide to auto insurance terms and definitions will help you understand what you're buying when you shop for auto insurance. Read definitions of liability. Definition of “motor insurance”, The official Collins English Dictionary online. insurance for a motor vehicle such as a car, which provides protection against.

Definition of automobile insurance: Policy that commonly includes some or all of the following: (1) Bodily injury liability for injury of death resulting from a collision. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy. Auto insurance provides property, liability and. To help you make informed decisions about your auto insurance coverage, take a look at some of the common auto insurance terms and definitions. Still have. An insurance policy providing coverage for damage caused to one's car, the damage the car itself causes, and/or its theft. One pays premiums to the car.

Definition of insure from the Merriam-Webster Online Dictionary with audio I found a company that will insure my car for less than I've been paying. This policy. Comprehensive insurance (COMP, Other Than Collision, OTC) covers your insured vehicle for physical damage losses resulting from incidents other than. Comprehensive Auto Insurance is an innovation introduced by insurers to their damages which are not included in the comprehensive coverage definition.

Definition: A contract for an automobile in which one party agrees to pay for another party's financial loss resulting from a specified event (for example, a collision. Here are some common definitions used in the auto insurance industry. (See your policy for exact definitions as they may vary.).

Also called no-fault insurance. a form of automobile insurance designed to enable the policyholder in case of an accident to collect a certain basic compensation. This means that you're insured against any claims made by drivers whose vehicles are damaged in an accident that was your fault. It also covers you for claims. Definition: Comprehensive Insurance Coverage is insurance coverage that helps pay for losses to an insured car due to fire, theft, or other losses that are not the. Consult this glossary of auto insurance terms and definition to help you understand what kind of coverage you have and need.