Bodily injury- Liability coverage that covers other people (not your passengers) involved in an accident.

Collision- Coverage for damage to your vehicle resulting from an accident (requires deductible).

Comprehensive- Non-accident-related coverage for your vehicle, such as crashes with animals, hail damage, theft, etc (also requires a deductible).

Deductible- The amount you pay before your insurance company starts paying for a covered loss.

Deductible Levels- Opting for higher personal property damage deductibles in order to lower your premium.

Personal Liability- Expenses you are responsible for if you’re the party at fault.

Medical Payments- Personal medical coverage (in states without no-fault laws).

No-fault insurance laws- Some states have no-fault insurance laws, where each person’s expenses are covered by his or her insurance company, regardless of who is at fault.

PIP (Personal Injury Protection)- In states with no-fault insurance laws, personal injury protection provides you with medical coverage and compensation for lost wages in the event of an accident. PIP coverage is required in most states.

Premium- The cost of an insurance plan over a period of time. Most plans cover a six-month or 12 month period.

Property Damage- Liability coverage for damage to another party’s property.

Quote- A price offered by an agent for an insurance policy.

Uninsured/Underinsured Liability Coverage- This kind of coverage protects you and your passengers if you are involved in an accident with an uninsured or underinsured motorist. This coverage is required in most states and should match the limits you have for bodily injury and property damage liability.