Preferred Auto
Definition
- Because of a statistically lowered risk of traffic collisions, those with spotless driving records are given better rates and options for automotive insurance.
Synonyms
preferred driver auto insurance, preferred auto insurance rates, preferred automotive insurance
Related Terms and Acronyms
- Automobile Liability Insurance — Definition,
- Insurance coverage for damages caused in traffic collisions.
- Collision Insurance — Definition,
- Auto insurance that provides coverage for damages to the policyholder's vehicle in the event that the policyholder is at fault in a traffic collision.
- Comprehensive Insurance — Definition,
- Auto insurance that covers damages not resulting from a collision, and for vehicle theft.
- High Risk Auto Insurance — Definition,
- Auto insurance for drivers with an increased risk of collisions.
- Private-Passenger Auto Insurance Policyholder Risk Profile — Definition,
- A system for sorting drivers by their driving records and how likely they are to cause a loss for an insurance company.
- Risk Class — Definition,
- A number of people who are grouped together because they pose similar levels of risk to an insurance company.
- Standard Automotive Insurance — Definition,
- Auto insurance that covers those with average driving records.
- Substandard Insurance — Definition,
- Insurance for those who are ineligible for standard insurance due to higher risk profiles.
- Underinsured Motorist Coverage — Definition,
- Auto insurance that covers damages when the other driver in a collision is at fault but does not have sufficient insurance coverage.
- Uninsured Motorist Coverage — Definition,
- Auto insurance that covers collision damages caused by a driver without auto insurance.
