D

The loss suffered by the victim of an accident. 

Also known as an auto insurance coverage summary, this page is provided by the insurance company and lists the following:

• Types of coverage that have been elected.

• Limit for each coverage.

• Cost for each coverage.

• Specified vehicles covered by the policy.

• Types of coverage for each vehicle covered by the policy.

• Other information applicable to the policy, such as covered / excluded drivers, lienholder information, agent information.

A deductible is the amount an insured agrees to pay out of pocket for damage resulting from a specific loss or accident. Generally, choosing a higher deductible will lower insurance premium

An insurance policy lacking specific information or coverage required by a lender. Per signed loan agreement between lender and insured, a deficient policy will not be accepted. A deficient policy could lead a lender to force place collateral protection insurance (CPI) per the conditions stated in the loan agreement. 

The value lost on a vehicle due to wear and tear. 

People can be added to policies with the following types of driver status:

• RATED/COVERED – Those who use the vehicles listed in a policy.

• EXCLUDED – Not allowed to drive vehicles on the policy and WILL NOT be covered under policy in the event of an accident.

• LISTED - Residents of the household who do not drive the vehicles on the policy (such as a roommate)