Smart Insurance Glossary
We explain some of the most common auto insurance terms for you here in our auto insurance
glossary. You can also find more detailed, state-specific information when you get your online auto
insurance quote.
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Accidental Death Coverage
Accidental death coverage is sometimes a part of your auto insurance policy's Personal Injury Protection or First Party Benefits plans.
If someone who's covered dies from accident-related injuries, this type of auto insurance coverage may provide a payment to the insured's designated beneficiary.
Actual Cash Value
You'll see this term a lot in auto insurance policies or if you ever have to file an auto insurance claim. That's because most auto insurance coverage reimburses you only for the actual cash value of your car. Your car's actual cash value is calculated by determining its original value, minus the amount your car has depreciated since you bought it.
Adjuster
An adjuster is the person who investigates and settles auto insurance claims.
Agent/Broker
Agents and brokers both sell and manage insurance for their customers. Agents are the authorized representatives of an insurance company or companies, while brokers are the authorized representatives of people looking for insurance.
Anti-Theft Recovery System
These systems consist of an electronic device that's installed in a concealed area of your car. If your car gets stolen, you can activate the device and it will emit a signal that can be used to locate your car.
Such systems can be effective over a radius of several miles, depending on local geography. Ask your car dealer or nearby police department which brand of recovery systems are supported in your area.
By installing an anti-theft recovery system, you may be eligible for an auto insurance discount.
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