Theis Insurance Agency

PO Box 111
St Michael, MN 55376
(763) 497-8140 phone
(763) 226-2377 fax


Auto Insurance Definitions

Insurance Terminology Explanation
Liability Insurance Pays the other people for their bodily injuries and/or property damage caused by you or those covered by your policy, up to your policy limits.
Uninsured Motorist Pays medical bills for you and those covered by your policy up to the limits of your policy for your injuries, when the other driver is liable and has no coverage.
Underinsured Motorist Pays medical bills for you and those covered by your policy up to the limits of your policy for your injuries, when the other driver is liable and has coverages which are below your policy coverage limits.
Medical Payments Pays you and those covered by your policy for medical expenses which result from an accident, regardless of who is at fault, up to your policy limits.
Deductible The amount of the loss which you pay, before the insurance company begins to pay. For example, if you have $10,000 damage to your vehicle and you have a $500 deductible, you will pay the first $500 and the company will pay the remaining $9,500.
Collision Coverage Pays for the repair or replacement of your vehicle regardless of who is responsible when your car is involved in a collision, after you pay your deductible.
Comprehensive Coverage Pays for the repair or replacement of your vehicle for damage other than a collision, such as: theft, vandalism, wind, hail, fire, glass breakage, falling objects, ect. after you pay your deductible.
Loss of Use/Rental Reimbursement Pays to you a set daily amount when your car is in the body shop for repairs or if the car is a total loss, the maximum allowed.
Towing and Emergency Roadside Assistance Pays for towing and service calls for minor breakdowns (dead battery, flat tires, etc.), but not the actual parts installed in your car.

 

Auto Insurance Discounts

Insurance Discounts Explanation
Multi-car More than one car insured with the same company
Multi-line More than one insurance policy (such as: homeowners and auto) with one company
Accident-free At least 3 years without an accident
Good Student Maintain a "B" average or better
Drivers Education Requires completion of company approved coursework
Anti-lock brakes Safety equipment built into the car
Air Bags Passive Restraint Devices which reduce injuries when used in conjunction with seatbelts
Non-smoker Driver does not smoke
Low Mileage Car is driven less than 5,000 miles per year
Marital Status Married drivers may get a discount




Home Owners Insurance Definitions

Insurance Terminology Explanation
Perils or Risks Anything which causes damage or loss to your home or its contents such as fire, smoke, lightning, wind, hail, vandalism, theft and many other causes.
Exclusions Those things which are specifically listed in your policy for which coverage is not provided.
Personal Property or Contents Everything which you move into your home, which is not a permanent part of the structure.
Actual Cash Value The original value of an item, minus depreciation
Replacement Cost Coverage Pays the full cost to repair or replace your dwelling or personal property, even if it exceeds the original cost.
Additional Living Expense Coverage Pays for the additional costs of lodging, meals and other expenses if you must live elsewhere while your home is being repaired.
Personal Liability Pays for physical injuries or damage to property of others, which is caused by you or your family members.
Personal Injury Liability Pays for "mental injuries" such as: slander, defamation of character, discrimination, false arrest
Guest Medical Pays for the accidental injuries of guests at your home, regardless of who was at fault.
Deductible The amount of the loss which you pay before the insurance company begins to pay. For example, if you have $10,000 of storm damage to your home and you have a $500 deductible, you will pay the first $500 and the company will pay the remaining $9,500.

Home Owners Insurance Discounts

Discount Explanation
New Home When the house is 1-10 years old
Multi-line More than one insurance policy (such as: homeowners and auto) with the same company
Smoke Alarms Smoke alarms on all floors
Dead Bolts Dead bolt locks on all exterior doors
Fire Extinguisher Have at least 1 fully charged "ABC" rated fire extinguisher in your home where it will can be reached quickly if needed.
Burglar Alarm Burglar alarm that reports to 24 hr monitored central service
Fire Alarm Fire alarm that reports to 24 hr monitored central service
Senior Senior citizen or retirement
Fire Resistant Fire resistive construction, such as block or masonry
Non-smoker Residents do not smoke


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