Get the TERMS right.

Source: Joel

Bodily Injury Coverage (BI)
This is very important insurance coverage that pays for injury to others when you are at-fault. Within policy limits, bodily injury coverage pays the amount you are legally obligated to pay for a person(s) injured or killed in an accident when you are at-fault. 


Collision Coverage (COLL)
This auto coverage pays for repairs to your insured vehicle when it is damaged due to a collision with another vehicle or object. Collision usually reimburses you the amount to repair or replace your damaged vehicle, minus your deductible.

Comprehensive Insurance Coverage (COMP)
Comprehensive coverage pays for repairs to your insured vehicle caused by something other than collision. This may include damage from vandalism, fire, windstorm, hail or some other peril. As with collision coverage, comprehensive coverage usually includes a deductible. 

Deductible (DED)

This is the dollar amount of the loss you assume before claims are paid for collision and comprehensive coverages. Each time you make a collision or comprehensive claim, you will incur the deductible amount. However, don't forget that choosing a higher deductible reduces the cost of your automobile insurance

Medical Payments Coverage (MP)
You never know when you are going to need coverage that pays the medical expenses for you AND the occupants of your insured vehicle. You are able to choose the amount of medical payments coverage for you and your family. The amount of coverage available is specified by the policy.

Personal Injury Protection or (PIP)
PIP Insurance is an expanded medical coverage which is not available in all states. Subject to the limits included in your policy, PIP covers injuries sustained by you and family members as a result of an automobile accident, regardless of who is at-fault. In the event you are unable to work or are disabled in an accident, this coverage usually includes provisions for medical bills and lost wages. 

Insurance Policy
This is the document issued to you by your insurance company, sometimes with auto insurance, is referred to as your proof of Insurance Card. The policy states the agreed-upon terms and conditions of the insurance contract.

Property Damage Coverage 


This coverage pays for damage to another's property due to an automobile accident when you are at-fault. Property damage covers items such as an automobile, house or fence of the individual you hit.