Glossary Terms

A situation, condition, or item specifically not covered by an insurance policy. Need Help Understanding Insurance Coverage? We’re here to make insurance simple.👉 Explore our Business Insurance options👉 Explore our Personal Insurance options

An addition or change to your original insurance policy that adjusts coverage, terms, or cost. Need Help Understanding Insurance Coverage? We’re here to make insurance simple.👉 Explore our Business Insurance options👉 Explore our Personal Insurance options

The amount you agree to pay out-of-pocket before your insurance starts to cover a loss. Need Help Understanding Insurance Coverage? We’re here to make insurance simple.👉 Explore our Business Insurance options👉 Explore our Personal Insurance options

The amount and type of protection provided under an insurance policy. Need Help Understanding Insurance Coverage? We’re here to make insurance simple.👉 Explore our Business Insurance options👉 Explore our Personal Insurance options

A request is made to an insurance company to cover a loss based on the terms of the policy. Need Help Understanding Insurance Coverage? We’re here to make insurance simple.👉 Explore our Business Insurance options👉 Explore our Personal Insurance options

A document showing proof that an individual or business has insurance coverage in place. Need Help Understanding Insurance Coverage? We’re here to make insurance simple.👉 Explore our Business Insurance options👉 Explore our Personal Insurance options

A temporary insurance contract that provides proof of coverage until a permanent policy is issued. Need Help Understanding Insurance Coverage? We’re here to make insurance simple.👉 Explore our Business Insurance options👉 Explore our Personal Insurance options

The maximum amount an insurance company will pay for all claims during a policy period. Need Help Understanding Insurance Coverage? We’re here to make insurance simple.👉 Explore our Business Insurance options👉 Explore our Personal Insurance options

A person or business added to an insurance policy to share the benefits and protection under the policy. Need Help Understanding Insurance Coverage? We’re here to make insurance simple.👉 Explore our Business Insurance options👉 Explore our Personal Insurance options

The value of an item is based on its current worth, considering depreciation, not what you paid originally. Need Help Understanding Insurance Coverage? We’re here to make insurance simple.👉 Explore our Business Insurance options👉 Explore our Personal Insurance options