All about Leasing Equipment

The limits are the maximum the insurance company will pay for the loss. ie: bodily injury limit is the maximum the insurance company will pay for each injury. If a person is injured in an accident and the hospital and medical costs are $ 560,000.00, and the limit is $ 500,000. The $ 60,000 balance is the responsibility of the insured.

That’s how the limits work. Comprehensive coverage is coverage on your car. The deductible is the amount of money the insured must pay in each claim. Example, Vandals damage your car and the repair costs $ 700. With a $ 500 deductible, the insurance company would pay $ 200. The deductible being your responsibility.

Emergency road service limits means that if a tow costs $ 300 and the limit is $ 250. You must pay $ 50. You are responsible for any amount over the limit.

I think fr the number of questions you have, it would be a good idea to have a long talk with your insurance agent so you have a better understanding of how auto insurance works.
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ALL are maximum payouts

Bodily Injury Limits mean
Personal Injury

Property Damage Limit
Damage to other property including other vehicles

Medical Payments Limit
Medical costs

Uninsured/Under insured Motorist Bodily Injury
This is in case you are struck and injured by an uninsured motorist

Liability Coverage means what?
Any -Liability- or damages

Uninsured Motorist Property Damage would be what ?
See above

Comprehensive Coverage & Deductibles are?
Comprehensive covers glass or other parts not damaged in an accident….like a stone through a windshield

Collision Coverage & Deductibles
Damaged from accidents that are your fault

Emergency Road Service Limits ?
Just what is says……cost limits on calling road service

Rental Car Limits ? (Does this mean they give you a rental car ?)
Yes…..Should your vehicle need to be in a body shop for a few days or even weeks, this covers renting a car

Customized Parts and Equipment Coverage Limits means what?
If you have aftermarket parts on your vehicle like custom sheetmetal or other parts, this covers replacement.

Loan/Lease Gap Coverage is what kind of thing?
This is a MUST HAVE if you have car payments…..
You buy a $15K and get a $15K loan…..as soon as you drive the vehicle off of the lot, your car depreciates……for simplicity…..it is now worth $13K
If you were struck by another vehicle and your car was totaled and it wasn’t your fault……the other insurance company will only give you book value of $13K…..You are left with a deficit of $2K………GAP insurance covers this loan to value deficit and will pay the bank the $2K to satisfy the loan
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Bodily Injury - this covers injuries to people in other vehicles if you’re in an accident and are at fault. For instance, if you limits are 100/300, the insurance will pay $100,000/person up to $300,000/accident.
Property Damage - covers damage to property of others if you are at fault in an accident…such as the other person’s vehicle.
Medical Payments - this is a no-fault coverage. It provides medical payments regardless of who’s at fault to other people in your vehicle.
Uninsured Motorist bodily injury - provides payments for bodily injury to yourself and other passengers in your vehicle if you are hit by an uninsured vehicle
Underinsured Bodily Injury - this kicks in if the at-fault driver doesn’t have enough insurance to cover your injuries. So, say someone else hits you and you have $50,000 of medical bills. The other driver only has $25,000 of bodily injury coverage on their policy. Underinsured motorist would kick in the other $25,000.
Liability coverage just means it covers the other people in an accident if you are at fault and provides no coverage for you or your vehicle.
Uninsured Motorist property damage - this would cover damages to your vehicle if an uninsured driver hit you.
Comprehensive - covers damages to your vehicle by anything other then collision, such as fire, animal hits, glass breakage, theft, etc. The deductible is the amount that you are responsible for paying and your insurance would pay anything over that amount.
Collision - just as it sounds, covers your vehicle if you run into another vehicle or object. Again, the deductible is the amount that you are responsible for paying before insurance kicks in.
Emergency Road Service - usually this just covers towing, but could also include, lockout, gas delivery, etc.
Rental Car Limits - if you have a covered accident, your insurance company will pay for the rental car. There is usually a per day limit up to a total amount they’ll pay. So, $30/$900 would be mean they’ll pay $30 per day for the rental car up to $900 for the total time you have it.
Customized Parts & Equipment - this would cover any non-factory add-ons that you have on your vehicle, such as that subwoofer in your trunk.
Loan/Lease Gap coverage - if your vehicle is a total loss and you owe more to the finance company then the vehicle is worth, this coverage would pay the difference.
References :
WI Insurance Agent