Here are a few common terms you'll want to be familiar with when you shop for your auto insurance coverage:

Automobile Insurance:

Auto insurance coverage types include bodily injury liability, property damage liability, medical payments, and collision and comprehensive coverage for physical damage to your vehicle.

Basic Limits of Liability:

The lowest amount of liability coverage you can purchase. It's usually the minimum required by state law.

Bodily Injury Liability:

A form of auto insurance coverage that protects against legal liability for causing physical injury or death to another.

Collision Insurance:

Covers loss to your own automobile if it should collide with another vehicle or object.

Comprehensive Coverage:

Covers vehicle damage caused by fire, theft, vandalism, and falling objects.

Deductible:

The amount you have to pay before the insurance company pays the remainder of a covered loss (up to the policy limits).

Gap Insurance:

In the event of a total loss, this optional auto insurance coverage pays the difference between the market value of your vehicle and the amount you still owe on it.

Medical Payments:

Covers injuries sustained by passengers in your car or while you're operating someone else's car. It also pays for medical and funeral expenses incurred in an accident regardless of fault.

Named Insured:

Any person, firm, or corporation designated by name as the insured person(s) in a policy.

Premium:

The price of auto insurance coverage for a specified risk for a specified period of time.

Property Damage Liability:

A form of auto insurance coverage that protects against liability for damage to someone else's property.

Vehicle Identification Number (VIN):

A 17-digit alphanumeric code that identifies the vehicle's serial number, make, model, options, and year.

Waiver of Collision Deductible:

Pays your deductible when you carry collision coverage on a vehicle damaged by an uninsured or hit-and-run motorist who is at fault.