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Buying a Car
Car Insurance
Insurance Terminology
100
This is why some people prefer to buy used cars (the answer is not just because they are cheaper)
What is when you buy a new car it immediately depreciates significantly. Because of this, you can generally get a good deal on a lightly used car.
100
This type of insurance covers repairs for damage you cause to your car caused by an accident.
What is collision?
100
This is the amount you pay of a regular basis for insurance coverage
What is a premium?
200
This is why you don't want to take out a loan for more than two or three years when buying a used car.
What is eventually the car will need more repairs or you might need a new one and you don't want to be stuck with the payments?
200
This type of insurance covers you if you get in an accident with someone who is under-insured or un-insured.
What is Unisured/Underinsured Motorist?
200
This type of insurance covers your home and the property inside of it.
What is homeowners insurance?
300
This is how the mileage on a used car generally effects the price.
What is the more miles, the less expensive (or the opposite)?
300
This type of insurance covers damage to your car from things other than collision.
What is comprehensive insurance?
300
This is the maximum amount the insurance company will pay in the event of an accident.
What is coverage limit?
400
These are three things (other than price) that people consider when purchasing a car.
What is make/model, looks, safety features, fuel economy, speed/acceleration, maintenance costs, etc.?
400
This type of car insurance covers medical payments to you and your passengers
What is medical payments insurance?
400
This is the amount you pay out of your pocket before the insurance company pays the rest.
What is deductible?
500
This is how you calculated the total cost of buying a car with a loan.
What is multiplying the monthly payment by the number of terms (months)?
500
This type of coverage covers damage you cause to other people's property and bodily injuries that you cause to people outside of your car.
What is general liability insurance?
500
This type of insurance provides financial support to the beneficiaries in the event of an untimely death.
What is life insurance?