Automobile

Under Medicare Secondary Payer guidelines, this is defined as any self-propelled land vehicle of a type that must be registered and licensed in the state in which it is owned.

Automobile insurance

An automobile owner’s protection against various risks such as bodily injury liability, medical, property damage, collision, comprehensive, and uninsured motorists.

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Coverage on the risks associated with driving or owning an automobile. It can include collision, liability, comprehensive, medical, and uninsured motorist coverages.

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A type of insurance which protects the insured against losses involving automobiles. Different coverage can be purchased depending on the needs and wants of the insured e.g., the liability coverage of bodily injury liability, property damage liability and medical payments and physical damages of collision and Package policy.

 

 

Automobile premium

Cost of automobile insurance coverage paid either monthly, quarterly, or annually to an insurance company that keeps the policy in force. Insurance companies base their premium rates on historical loss experience for similar risks.