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Indianapolis Car Accident Attorneys 317-881-2700<\/p><\/div>
\nThe terms and definitions listed below are likely to vary from state to state. Be sure to check with your insurance provider to confirm the details of your state\u2019s particular auto insurance laws and policy limitations. If you have questions about making an accident claim, it is vital that you speak with a seasoned Indianapolis personal injury lawyer for professional advice and assistance you can trust. <\/p>\n
Here are some common auto insurance terms you may come across: <\/font><\/h2>\nAccident Forgiveness<\/strong><\/font> \u2013 While most providers will increase a policy holder\u2019s premium after causing an accident, policies with accident forgiveness will not add a surcharge after a car accident.<\/p>\nAdverse Carrier<\/strong><\/font> \u2013 The insurance carrier of the other party involved in a car accident.<\/p>\nAppraisal<\/strong><\/font> \u2013 The estimation of the property damage and the cost to have it repaired. <\/p>\nAt-Fault<\/strong><\/font> \u2013 The party who is legally responsible for damages resulting from an accident.<\/p>\nBinder<\/strong><\/font> \u2013 A provisional insurance contract that provides proof of insurance coverage until a permanent policy can be allotted.<\/p>\nBodily Injury<\/strong><\/font> \u2013 Injuries sustained by individuals involved in an accident.<\/p>\nClaim<\/strong><\/font> \u2013 The formal request to an insurance company for compensation following a car accident.<\/p>\nComparative Negligence<\/strong><\/font> \u2013 Victims who are partially at-fault can collect a partial amount of compensation for their damages and losses based on the percentage of their contribution to negligence. See our article on The Difference Between Comparative and Contributory Negligence<\/a>.<\/p>\nCoverage<\/strong><\/font> \u2013 The overall protection and benefits provided by an insurance policy contract.<\/p>\nCovered Person<\/strong><\/font> \u2013 Those who are insured under a car insurance policy.<\/p>\nDamage<\/strong><\/font> \u2013 Harm or loss to a person or property. <\/p>\nDeductible<\/strong><\/font> \u2013 The fee the insured party must pay in order for their insurance company to pay their claim. <\/p>\nProof of Financial Responsibility<\/strong><\/font> \u2013 A law mandating that all drivers must retain the state’s minimum amount of liability insurance coverage to legally operate each vehicle they own (Indiana\u2019s requirement is 25\/50\/25 minimum liability insurance).<\/p>\nIndemnification<\/strong><\/font> \u2013 Compensating an injured party for the purpose of restoring their estimated financial position and quality of life back to what it was before an accident.<\/p>\nLiability<\/strong><\/font> \u2013 A legal and imposable obligation for the losses and damages suffered by an accident victim.<\/p>\nLiability Insurance<\/strong><\/font> \u2013 Car insurance coverage that defends against claims that a driver\u2019s negligence cause a victim bodily harm or property damage.<\/p>\nLimits<\/strong><\/font> \u2013 The maximum benefits an insurance company will pay for losses and damages covered in an insurance policy.<\/p>\nLoss<\/strong><\/font> \u2013 The amount of money assigned to a claim.<\/p>\nNegligence<\/strong><\/font> \u2013 Failure to possess or demonstrate a level of care, expected by all persons under law, which protects another person, reputation, or property from harm or foreseeable and unreasonable risks.<\/p>\nNo-Fault Insurance<\/strong><\/font> \u2013 A policy that covers medical treatment, lost wages, and other accident-related expenses, regardless of who is at-fault for an accident.<\/p>\nPer Occurrence Limit<\/strong><\/font> \u2013 The maximum benefits paid by an insurance company for all claims stemming from a single incident.<\/p>\nPer Person Limit<\/strong><\/font> \u2013 The maximum benefits paid by an insurance company for a single person\u2019s injuries arising from a single incident.<\/p>\nPersonal Auto Policy (PAP)<\/strong><\/font> \u2013 A simple, rudimentary automotive insurance policy that provides coverage for liability, medical payments, uninsured and underinsured motorists, and physical damage protection.<\/p>\nPersonal Injury Protection (PIP)<\/strong><\/font> \u2013 A type of medical payments coverage in which all or a portion of medical expenses and hospital bills (driver and passengers) are paid for, no matter who is to blame for an auto accident. See our blog on Discussing Personal Injury Protection (PIP)<\/a>.<\/p>\nPolicyholder<\/strong><\/font> \u2013 The individual who owns the policy. It may also include anyone covered under the policy.<\/p>\nPremium<\/strong><\/font> \u2013 The amount paid for an automotive insurance policy.<\/p>\nProperty Damage Liability Coverage<\/strong><\/font> \u2013 This covers any property damage done to another person\u2019s property in the case that a driver is at-fault for their accident.<\/p>\nReplacement Cost<\/strong><\/font> \u2013 The total cost to replace damaged property, with the exclusion of depreciation reductions.<\/p>\nSplit Limits<\/strong><\/font> \u2013 An imbursement strategy used by the insurance company to pay for individual components of a car accident.<\/p>\nUnderinsured<\/strong><\/font> \u2013 A policyholder who does not retain enough insurance coverage to cover all related damages in a car accident. <\/p>\nUnsatisfied Judgment Fund<\/strong><\/font> \u2013 A state fund intended to compensate individuals for any losses sustained from an automobile accident caused by an uninsured\/underinsured motorist, or person without money.<\/p>\nGet Started on Your Car Accident Claim Today<\/strong><\/h2>\n![\"Indianapolis](\"https:\/\/www.chblawfirm.com\/blog\/wp-content\/uploads\/2017\/03\/Personal-Injury-Attorney-Indianapolis-Copy-300x244.jpg\")
Indianapolis Personal Injury Lawyers 317-881-2700<\/p><\/div>Call Craven, Hoover, and Blazek P.C. at 317-881-2700<\/strong> to schedule a free consultation with a licensed Indianapolis car accident attorney<\/a> who can determine the best strategies for your case. Not only does our law firm offer free consultations, we never collect lawyer fees unless we prevail for you! Call 317-881-2700 to get started on your financial recovery, today.<\/p>\nLegal Disclaimer:<\/strong> Although every effort is taken to ensure the accuracy of this publication, it is not intended to provide legal advice. Individual cases differ and should be discussed with a lawyer.<\/em><\/font><\/p>\n","protected":false},"excerpt":{"rendered":"All drivers should have a basic understanding of their auto insurance policy. This is especially true for anyone injured in a car accident. This awareness can also help victims if you have to make a personal injury claim. A good … Continue reading
Adverse Carrier<\/strong><\/font> \u2013 The insurance carrier of the other party involved in a car accident.<\/p>\n Appraisal<\/strong><\/font> \u2013 The estimation of the property damage and the cost to have it repaired. <\/p>\n At-Fault<\/strong><\/font> \u2013 The party who is legally responsible for damages resulting from an accident.<\/p>\n Binder<\/strong><\/font> \u2013 A provisional insurance contract that provides proof of insurance coverage until a permanent policy can be allotted.<\/p>\n Bodily Injury<\/strong><\/font> \u2013 Injuries sustained by individuals involved in an accident.<\/p>\n Claim<\/strong><\/font> \u2013 The formal request to an insurance company for compensation following a car accident.<\/p>\n Comparative Negligence<\/strong><\/font> \u2013 Victims who are partially at-fault can collect a partial amount of compensation for their damages and losses based on the percentage of their contribution to negligence. See our article on The Difference Between Comparative and Contributory Negligence<\/a>.<\/p>\n Coverage<\/strong><\/font> \u2013 The overall protection and benefits provided by an insurance policy contract.<\/p>\n Covered Person<\/strong><\/font> \u2013 Those who are insured under a car insurance policy.<\/p>\n Damage<\/strong><\/font> \u2013 Harm or loss to a person or property. <\/p>\n Deductible<\/strong><\/font> \u2013 The fee the insured party must pay in order for their insurance company to pay their claim. <\/p>\n Proof of Financial Responsibility<\/strong><\/font> \u2013 A law mandating that all drivers must retain the state’s minimum amount of liability insurance coverage to legally operate each vehicle they own (Indiana\u2019s requirement is 25\/50\/25 minimum liability insurance).<\/p>\n Indemnification<\/strong><\/font> \u2013 Compensating an injured party for the purpose of restoring their estimated financial position and quality of life back to what it was before an accident.<\/p>\n Liability<\/strong><\/font> \u2013 A legal and imposable obligation for the losses and damages suffered by an accident victim.<\/p>\n Liability Insurance<\/strong><\/font> \u2013 Car insurance coverage that defends against claims that a driver\u2019s negligence cause a victim bodily harm or property damage.<\/p>\n Limits<\/strong><\/font> \u2013 The maximum benefits an insurance company will pay for losses and damages covered in an insurance policy.<\/p>\n Loss<\/strong><\/font> \u2013 The amount of money assigned to a claim.<\/p>\n Negligence<\/strong><\/font> \u2013 Failure to possess or demonstrate a level of care, expected by all persons under law, which protects another person, reputation, or property from harm or foreseeable and unreasonable risks.<\/p>\n No-Fault Insurance<\/strong><\/font> \u2013 A policy that covers medical treatment, lost wages, and other accident-related expenses, regardless of who is at-fault for an accident.<\/p>\n Per Occurrence Limit<\/strong><\/font> \u2013 The maximum benefits paid by an insurance company for all claims stemming from a single incident.<\/p>\n Per Person Limit<\/strong><\/font> \u2013 The maximum benefits paid by an insurance company for a single person\u2019s injuries arising from a single incident.<\/p>\n Personal Auto Policy (PAP)<\/strong><\/font> \u2013 A simple, rudimentary automotive insurance policy that provides coverage for liability, medical payments, uninsured and underinsured motorists, and physical damage protection.<\/p>\n Personal Injury Protection (PIP)<\/strong><\/font> \u2013 A type of medical payments coverage in which all or a portion of medical expenses and hospital bills (driver and passengers) are paid for, no matter who is to blame for an auto accident. See our blog on Discussing Personal Injury Protection (PIP)<\/a>.<\/p>\n Policyholder<\/strong><\/font> \u2013 The individual who owns the policy. It may also include anyone covered under the policy.<\/p>\n Premium<\/strong><\/font> \u2013 The amount paid for an automotive insurance policy.<\/p>\n Property Damage Liability Coverage<\/strong><\/font> \u2013 This covers any property damage done to another person\u2019s property in the case that a driver is at-fault for their accident.<\/p>\n Replacement Cost<\/strong><\/font> \u2013 The total cost to replace damaged property, with the exclusion of depreciation reductions.<\/p>\n Split Limits<\/strong><\/font> \u2013 An imbursement strategy used by the insurance company to pay for individual components of a car accident.<\/p>\n Underinsured<\/strong><\/font> \u2013 A policyholder who does not retain enough insurance coverage to cover all related damages in a car accident. <\/p>\n Unsatisfied Judgment Fund<\/strong><\/font> \u2013 A state fund intended to compensate individuals for any losses sustained from an automobile accident caused by an uninsured\/underinsured motorist, or person without money.<\/p>\n Indianapolis Personal Injury Lawyers 317-881-2700<\/p><\/div>Call Craven, Hoover, and Blazek P.C. at 317-881-2700<\/strong> to schedule a free consultation with a licensed Indianapolis car accident attorney<\/a> who can determine the best strategies for your case. Not only does our law firm offer free consultations, we never collect lawyer fees unless we prevail for you! Call 317-881-2700 to get started on your financial recovery, today.<\/p>\n Legal Disclaimer:<\/strong> Although every effort is taken to ensure the accuracy of this publication, it is not intended to provide legal advice. Individual cases differ and should be discussed with a lawyer.<\/em><\/font><\/p>\n","protected":false},"excerpt":{"rendered":" All drivers should have a basic understanding of their auto insurance policy. This is especially true for anyone injured in a car accident. This awareness can also help victims if you have to make a personal injury claim. A good … Continue reading Get Started on Your Car Accident Claim Today<\/strong><\/h2>\n