If you want to get an Oklahoma City auto insurance quote, make sure you understand the basic terminology used by brokers and agents. This will be very beneficial for you in the long run because you will have a better comprehension of the basics of an insurance policy, and know how to better compare companies and quotes. This knowledge will safeguard your interests and prevent you from entering an agreement that cost significantly more. Here are the terms that you must get yourself acquainted with.
1. Full Coverage Car Insurance – This refers to a policy that involves complete coverage for your car. All expenses incurred during a car accident will be covered in this policy including your auto, the other auto involved, and the hospital bills of all injured persons.
2. Medical Coverage – This covers the hospital bills if there are persons injured during an accident in which your car is involved. You need not to have this if you have a full coverage car insurance policy.
3. Liability Coverage – This insurance coverage covers the expenses if you are found to be responsible for the accident. It implies that the insurance company would answer all the medical bills and the damages of the other party involved in the accident. Having this type of policy is highly recommended to free yourself from the hassles of dealing with lots from problems should you encounter an accident in the future that you are found faulted. This is also included in full coverage insurance.
4. Price Premiums – This refers to the amount that you are going to pay for an insurance coverage. Price premiums differ from person to person as insurance companies use information about you in determining this. Your age, driving history, the type and make of your car as well as its model, and the number of years you have been driving are taken into account.
Familiarize yourself with these terms so that it would be easier for you to do insurance comparisons before you sign the papers with any insurance company.