In his 1967 interview with Muhammed Ali, famous journalist and friend Howard Cosell said, You are being extremely truculent today, Champ. To which Ali bombastically replied, Whatever truculent means. If it’s good. I’m that! (Fittingly, the word truculent means aggressively defiant.)
Over the years we’ve talked with scores of potential clients who have had Muhammed Ali’s same blind optimism when it comes to the terms of their auto-insurance policies. Whatever PIP, PD, or UM is. If it’s good, I’ve got that! is the overall posture. Unfortunately, in most cases, the people who have come to us have assumed they have a lot more insurance coverage than they actually do. Those abbreviations (PIP, PD, UM, BIL, PD) represent important types of coverage that could really help in the wake of an auto accident related personal injury.
Let’s take a moment to simplify. Any auto insurance policy can made up of various types of coverage, but they all do one of two things: 1) protect you from harm 2) protect other people from harm.
All of the various types of coverage fall into those two categories. With that in mind, let’s look at some of the terms you should know in each category.