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rates.ca
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Definitions (43)
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claim
Request by the policyholder to be reimbursed by the insurance company for loss covered under the insurance policy.
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Collision coverage
Coverage protecting you financially in the case of damage to your car resulting from an accident where you're found at fault. It also covers damage to your vehicle caused by an unidentified perso [..]
Meaning awaits approval from a moderator |
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Comprehensive coverage
Coverage protecting you financially from damage other than collision damage done to your vehicle. (i.e. theft, fire, vandalism, etc.)
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DEDUCTIBLE
A pre-determined amount that a policyholder is required to pay as part of a claim before payment is made by the insurance company.
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DEPRECIATION
The reduction in the value of an asset (i.e. vehicle) over time.
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Facility Association
An insurance pool made up of all insurance companies. Facility Association provides coverage to high risk drivers who are unable to obtain auto insurance elsewhere. As a result it is considered an ins [..]
Meaning awaits approval from a moderator |
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Family Protection Endorsement
Additional coverage if you're involved in an accident with a driver who has no insurance or less insurance coverage than you and who doesn't have enough coverage for your claim.
Meaning awaits approval from a moderator |
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Good Driver Discount
A discount on auto insurance offered by some insurance companies for maintaining a clear driving record over an extended period of time.
Meaning awaits approval from a moderator |
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good student discount
A discount on auto insurance offered by some insurance companies for being a student and maintaining a good grade point average.
Meaning awaits approval from a moderator |
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