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Bodily Injury Liability – this coverage protects you against the risk of financial loss due to injuries that you, or a person who drives your vehicle with your permission, cause to someone else. These losses may include claims for medical expenses, lost wages, pain and suffering or funeral expenses.

Collision Coverage – this coverage pays for damage to your insured auto from an impact with another car, an object or from rollover.

Comprehensive Coverage – this coverage, sometimes also referred to as “other than collision,” pays for losses caused by perils or causes of loss other than those defined as collision losses. Typical comprehensive losses are caused by fire, theft, vandalism, wind, hail, flood, deer or other animal crashes and glass breakage.

Deductible – the portion of any claim that is not covered by the insurance provider. The deductible is what you pay before you receive the benefits of the policy.

GAP Insurance – covers the borrower’s responsibility for the possible “gap” amount between the net balance of the outstanding retail finance contract and the actual cash value of a vehicle that is declared a total loss due to, for example a crash, fire or theft.

Personal Injury Protection – is a broad form of medical payments coverage that, in addition to paying medical and funeral expenses, provides benefits for work loss or loss of earnings and/or expenses related to replacement of essential services that are normally performed by the injured person. It may also include survivor loss benefits to compensate for the death of a covered auto accident victim.

Premium – the amount to be charged for a certain amount of insurance coverage.

Property Damage Liability – this coverage pays for any damage you may cause to someone else’s property. In most cases, this involves damage to someone else’s vehicle, but it could also include damage to a fence, mailbox or structure. Loss of use of the property is also covered.

Uninsured Motorist – this coverage provides payment to you if you are involved in a crash with another person who is liable for injuries caused to you, but who is a hit-and-run driver, does not have any bodily injury liability insurance or the person’s company refuses or is unable to pay.

Underinsured Motorist – this coverage can be added to the uninsured motorist coverage to provide payment to you for injuries caused to you by another person whose auto insurance policy limits are not high enough to cover the cost of the injuries they are liable for.

Vehicle Service Contract – also called extended service contracts and extended warranties. These products were developed in response to consumer needs for mechanical breakdown coverage and related services after the expiration of the manufacturer's warranty. A vehicle service contract pays the cost of covered vehicle repairs.