Important Terms to Know
Full Tort policy holders have the advantage of having the full rights to sue a negligent party that caused the policy-holder pain and suffering.
Limited Tort means that you are still covered for any injuries and damages to your property but you give up your right to file for compensation for any other non monetary damages, like pain and suffering.
There are some exceptions to pain and suffering compensation under limited tort policies including:
-Accidents on a motorcycle
-Accidents as a pedestrian
-Accidents taking place when you are a passenger in a commercial vehicle
-Accidents caused by an impaired driver
-Accidents with an out of state vehicle
-Accidents that result in serious injury
Full Tort vs. Limited Tort
The difference between the actual cash value of a vehicle and the balance still owed on the vehicle, whether leased or purchased with an auto loan.
Pays for the cost of a brand-new car of the same make and model of the current year. If you total your vehicle in the first five years. This does not cover leased vehicles.
When you pay your bills on time consecutively you may be eligible for a premium reduction.
Accident forgiveness is an option that helps you avoid a rate increase the first time you get into an accident in a 36 month period.
Every 6 months, if all drivers on the policy are accident and major violation free deductibles will decrease by $.50 every 6 months, up to $500 total.