Types of Insurance and Factors that Affect the Cost of Auto Insurance

deductible

"out of pocket" expenses

factors that affect the cost of your auto insurance

(1) the types of insurance coverage your asking for, (2) the deductible amounts for the coverage you choose (3) the type of vehicle you will insure (4) the number of miles you will be driving the vehicle (5) where you live and keep the vehicle (6) your driving record (7) your marital status, age, and sex (8) who has access to your vehicle (9) your credit score (10) the number of claims turned you have in

premium

insurance bill

medical payments

is part of full coverage and pays for the cost of you and/or your passenger's injuries

collision

is part of full coverage and pays for your car's damage

comprehensive

is part of full coverage and pays of your car's damage that was not caused by a collision with another car; examples are fire, hail, wind, vandalism, and hitting a utility pole

bodily injury

it is built into liability coverage and covers the cost of other people's injuries

property damage

it is built into liability coverage and covers the cost of others people's damaged property

liability

the most basic insurance that pays damages due to bodily injury and property damage to others for which you are responsible; it does not cover your injuries or vehicle damage; it is required by Wisconsin

policy

written insurance contract