The Florida Insurance Glossary, designed to help Florida residents better understand the terms used.
Damage: The loss or harm to a person or property is indicated by this term. Bodily injury liability limits indicate the
maximum payout to another for this type of damage. Actual cash value is the formula most often used to determine
the maximum payout for vehicle damage. Knowing car insurance basics is important for all drivers and vehicle
owners.
Damages: The monetary amount that one person or entity becomes legally obligated to pay to another. That’s
right…damages for the damage. It’s important to consider the amount of bodily injury liability coverage when
purchasing your insurance policy. Higher limits providing greater protection are always worthy of consideration.
Death Benefit: The amount of insurance coverage payable in the event of a death. Minimum required Florida No-
Fault insurance includes a death benefit of $5,000. Options and third party add-ons can provide for an increased
death benefit for an additional premium. Generally these types of policies pay a benefit in the event of accidental
death only.
Declarations Page: The part of an automobile insurance contract that identifies the characteristics of a specific
risk. Lots of documents and papers are part of your Florida car insurance policy but the declarations page is the
most important. Keep them in a safe place and hold on to previous ones as your policy renews. Companies typically
increase discounts the longer you have continuous insurance without a lapse. Have the proof you need to keep your
car insurance cost low for life.
Deductible: The portion of damages paid by the policyholder before the insurance contract begins to pay.
Choosing a deductible that best suits your needs will depend on your budget and tolerance for risk. When shopping
for a Florida car insurance quote compare the same coverages and deductibles for a proper comparison.
Depreciation: The value assigned to property (car) when new less a deduction for age. As your car gets older it’s
worth less and an insurance payout for a total loss will be less. When considering physical damage for your car a
good question and answer for your insurance quote is how much the car is worth.
Direct Writer: Insurance companies that utilize employees or captive agents to sell insurance products. Geico is an
example of a direct writer. Companies often use a combination of distribution methods for their insurance polices. No
matter what city or neighborhood in Florida you live in compare rates with different providers.
Direct Pay: Term utilized to refer to automatic electronic funds transfer method of premium payments. Usually there
is a discount when this payment method is selected. When discounts are far and few between for certain drivers who
require a Florida FR 44 or Florida SR 22 the direct pay method can provide some welcome relief.
Discounts: A reduction in the base premium of an insurance contract for a variety of reasons e.g. anti-lock brakes,
passive restraint system. Applying all available discounts is an important factor in keeping car insurance rates low.
Quotes for Miami car insurance and a car quote in Jacksonville are among the highest in the State. Whether you’re
purchasing a policy here or in Tallahassee paying too much by missing a discount is unnecessary.
Domestic Insurance Company: term is used to indicate that an insurance company is incorporated in the state
where they transact insurance. It’s always a good idea to check the status of your company, agent or agency for
licensure with the Florida Department of Insurance and financial Services. Florida Auto Plus Insurance is a Florida
licensed insurance agency.
Drive Other Car Endorsement: Enhanced coverage on a business auto policy providing coverage for named
individuals driving vehicles not owned by the company.
Duty to Defend: The insurance company’s obligation to defend a policyholder in the event of a law suit.
Damage: The loss or harm to a person or property is indicated by this term. Bodily injury liability limits indicate the
maximum payout to another for this type of damage. Actual cash value is the formula most often used to determine
the maximum payout for vehicle damage. Knowing car insurance basics is important for all drivers and vehicle
owners.
Damages: The monetary amount that one person or entity becomes legally obligated to pay to another. That’s
right…damages for the damage. It’s important to consider the amount of bodily injury liability coverage when
purchasing your insurance policy. Higher limits providing greater protection are always worthy of consideration.
Death Benefit: The amount of insurance coverage payable in the event of a death. Minimum required Florida No-
Fault insurance includes a death benefit of $5,000. Options and third party add-ons can provide for an increased
death benefit for an additional premium. Generally these types of policies pay a benefit in the event of accidental
death only.
Declarations Page: The part of an automobile insurance contract that identifies the characteristics of a specific
risk. Lots of documents and papers are part of your Florida car insurance policy but the declarations page is the
most important. Keep them in a safe place and hold on to previous ones as your policy renews. Companies typically
increase discounts the longer you have continuous insurance without a lapse. Have the proof you need to keep your
car insurance cost low for life.
Deductible: The portion of damages paid by the policyholder before the insurance contract begins to pay.
Choosing a deductible that best suits your needs will depend on your budget and tolerance for risk. When shopping
for a Florida car insurance quote compare the same coverages and deductibles for a proper comparison.
Depreciation: The value assigned to property (car) when new less a deduction for age. As your car gets older it’s
worth less and an insurance payout for a total loss will be less. When considering physical damage for your car a
good question and answer for your insurance quote is how much the car is worth.
Direct Writer: Insurance companies that utilize employees or captive agents to sell insurance products. Geico is an
example of a direct writer. Companies often use a combination of distribution methods for their insurance polices. No
matter what city or neighborhood in Florida you live in compare rates with different providers.
Direct Pay: Term utilized to refer to automatic electronic funds transfer method of premium payments. Usually there
is a discount when this payment method is selected. When discounts are far and few between for certain drivers who
require a Florida FR 44 or Florida SR 22 the direct pay method can provide some welcome relief.
Discounts: A reduction in the base premium of an insurance contract for a variety of reasons e.g. anti-lock brakes,
passive restraint system. Applying all available discounts is an important factor in keeping car insurance rates low.
Quotes for Miami car insurance and a car quote in Jacksonville are among the highest in the State. Whether you’re
purchasing a policy here or in Tallahassee paying too much by missing a discount is unnecessary.
Domestic Insurance Company: term is used to indicate that an insurance company is incorporated in the state
where they transact insurance. It’s always a good idea to check the status of your company, agent or agency for
licensure with the Florida Department of Insurance and financial Services. Florida Auto Plus Insurance is a Florida
licensed insurance agency.
Drive Other Car Endorsement: Enhanced coverage on a business auto policy providing coverage for named
individuals driving vehicles not owned by the company.
Duty to Defend: The insurance company’s obligation to defend a policyholder in the event of a law suit.
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Florida Auto Plus Insurance, Simply the best.
Local map and directions: 9742 Banyan street Miami, Florida 33157
Call us now. You'll be glad you did.
1-877-WIZ-AUTO.com
Local map and directions: 9742 Banyan street Miami, Florida 33157
Call us now. You'll be glad you did.
1-877-WIZ-AUTO.com
Clifford J. Schimek - Lower your car insurance cost for life.
Clients enjoy a level of personal attention and first class service that most other agencies simply cannot match.
I want to be your personal local Florida auto insurance agent and earn your trust and respect.
Searching for Auto Insurance Florida, look no further.
Clients enjoy a level of personal attention and first class service that most other agencies simply cannot match.
I want to be your personal local Florida auto insurance agent and earn your trust and respect.
Searching for Auto Insurance Florida, look no further.
| Florida Insurance Glossary Terms "D" Florida Auto Plus Insurance Agency - "Lower your Florida car insurance cost for life" |