This does not include coverage provided by Collision Coverage.Ĭoverage - Direct Compensation: Coverage that provides compensation for your car and its contents if another person was at-fault, where you collect directly from your own insurer.Ĭoverage - Family Protection: This feature extends your coverage to not only include yourself, but also family members too up to the limit of your liability coverage. With this coverage, we take on the cost of repairs to fix your car, minus the amount you pay as your deductible.Ĭoverage - Comprehensive: A coverage package for your car that takes on Specified Perils, like hail, flood, theft or fire, to name a few (see ‘perils’ definition).
INSURANCE WORD VS WORD DRIVER
All perils coverage also covers loss or damage in the event your car is stolen or if it’s damaged by an additional driver or someone in your household.Ĭoverage – Bodily Injury: Protection against liability for damage to property of another, including loss of use of the property.Ĭoverage - Collision: Optional coverage for your car that takes care of the cost of repair if it’s hit and/or damaged by a collision or upset with another object. These might include things like medical care and income replacement.Ĭoverage - All Perils: Optional coverage that covers all causes of loss except those directly mentioned as exclusions in your policy. It's also what you submit if you cause damage or harm to someone else or their property.Ĭoverage - Accident Benefits: Expenses (medical or otherwise) covered in an accident regardless of who’s at fault. You'll also get status updates from your dedicated advisor through email or text, depending on what you opt in for.Ĭlaim: This is what you submit to us after experiencing damage to or loss of your car in order for us to validate and approve to indemnify you for that loss. Once you open your claim with us, you can securely follow your claim across the five key stages with the TD Insurance Mobile App or online with MyInsurance. Certain provinces have guidelines for determining fault, and depending on the circumstances and evidence, the determination can vary.Īuto Claims Tracker: A feature that lets you track the status of your claim. The way the amount of fault is decided can vary from claim-to-claim.
Anyone considered to be 1% or more at fault in an accident will have an at-fault accident listed on their insurance record.
INSURANCE WORD VS WORD PROFESSIONAL
You can include these people on your policy.Īdjustor: Sometimes referred to as an 'advisor', they're a dedicated professional we assign who is experienced in gathering facts about your car, coordinating an appraisal, and determining the dollar value of the car or settlement based on an assessment of the damage or loss.Īt-Fault: After an accident and depending on the details of how the accident happened, you can be found anywhere between 0% and 100% at fault. You'll be connected quickly to our First Response Centre.Īccident Forgiveness: Sometimes referred to as 'Claim Forgiveness', it's a product offered where we agree not to adjust your insurance premium after your first accident if you’re considered at-fault or partially at-fault.Īctual Cash Value: The current market value of your car before it was damaged.Īdditional Driver: Anyone that's allowed to drive your car (other than you), including family members and friends. A Car Insurance Term GlossaryĪccident Assistance: A helpful button found in your TD Insurance Mobile App that you can use to instantly call for a tow truck and start a new claim. That way, when it comes time to talk about car insurance, you’ll feel confident.
That’s why we’ve prepared a helpful glossary of words you may come across in your insurance experience and have broken them down into less insurance-y terms. We believe insurance doesn’t need to be so complicated. Whether you’re thinking of submitting a claim, trying to understand the process, regulations, or your policy, sometimes the terms used can have you scrambling for a dictionary. Car insurance terms aren’t always easy to understand. Trip Cancellation and Trip Interruption Insurance.
0 kommentar(er)
