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Auto Insurance Glossary
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11. Broadform Collision Coverage
A type of auto insurance coverage only available in Michigan. Broadform works like standard collision coverage, but additionally pays for collision damage to your insured car regardless of who's at fault. While this coverage will pay up to your car's actual cash value regardless of fault, you will be responsible for the deductible you chose should it be determined you are more than 50% responsible for the accident. If you're less than 50 percent responsible, you won't have to pay this deductible.
12. Claim
A policyholder's request to be paid for a loss covered by their auto insurance policy.
13. Collision Deductible Waiver
Coverage that pays the deductible for your collision coverage should you be involved in an accident where an uninsured motorist is found responsible. This coverage is not available in every state. In the event it's available, you must purchase it along with collision coverage at the time you purchase your auto insurance policy.
14. Collision Insurance
Covers loss resulting from damage to the policyholder's automobile due to collision with another vehicle or object, regardless of who was at fault.
15. Commuting
You may be asked on an auto insurance application whether or not you you primarily use your car for commuting. If you primarily use the car to drive to and from work or school, then you can answer "yes" to this question.
16. Comprehensive
Covers against loss due to damage of the insured auto in instances of fire, theft, or vandalism (other than loss caused by collision).
17. Continuously Insured
Length of time am auto insurance policyholder has been continuously by one or more insurance companies with no lapse in coverage.
18. Custom/Non-factory Equipment Coverage
This is special coverage for customized features, such as found on conversion vans, as well as non-factory items such owner-installed CD players, cellular phones, and CB radios.
19. Declarations
The Declarations page of an auto insurance policy is a condensed version of the essential facts relating to your auto insurance coverage. This information includes details such as the policyholder's name and address, description of the vehicles covered, the premium, coverages, limits, and deductibles.
20. Deductible
The predetermined amount of money that you, (the policyholder) are responsible for before your insurance carrier will pay toward the remainder of the loss.
