Definition: In relation to a policy of auto insurance, "car insurance progressive" refers to an element of an insurance premium that increases over time based on the amount of damage or accidents sustained by the insured vehicle. This progressive increase typically reflects changes in the estimated value of the insured car as the vehicle ages and undergoes normal wear and tear. The term "car insurance progressive" is not commonly used in standard insurance policies, but rather in conjunction with other clauses that allow for an annual premium increase based on the overall cost of a policy or vehicle. The specific definition of "progressive increase" can vary widely depending on the specific terms within the policy or any additional clauses included. For example: - In most US auto insurance policies, "car insurance progressive" might apply to how the insurer calculates premiums over time based on factors such as age and mileage, rather than a fixed percentage. The premium amount would be adjusted according to these factors. - In some countries or regions, where progressive insurance is more commonly used in coverage for new vehicles or high-value assets (e.g., cars worth $500,000), the term "car insurance progressive" might refer to an adjustment that applies to the value of a vehicle as it depreciates over time. It's important to note that the specific terms within an insurance policy can vary widely and are often set out in detail within the policy itself. Understanding these elements can provide guidance on how the premium would be calculated, which is crucial for understanding what happens if your car gets damaged or has accidents in the future.
closed bracket.
what should be said.