Common Insurance Terms Explained

Deductible
The amount you pay out of pocket before your insurance kicks in. Lower deductible = higher premium, usually.

Premium
Your regular payment (monthly or annual) to keep coverage active — think of it as your policy's subscription fee.

Liability Coverage
Pays for damage or injury you cause to someone else — required by law in most states for auto insurance.

Umbrella Policy
Extra liability coverage that kicks in once your other policy limits are maxed out — a safety net for major claims.

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