Actual Cash Value
A decrease in the value of property over a period of time due to wear and tear or obsolescence. Depreciation is used to help determine the actual cash value of property at the time of loss.
Adjustable Premium
These types of insurance policies feature variable premium rates that can change based on several factors, as outlined in the established policy agreement.
Bodily Injury Liability
Pays damages for bodily injury or death resulting from an accident for which you are at fault and provides you with a legal defense. Coverage is subject to your policy terms, limits and conditions.
Business Auto Policy
A type of commercial car insurance that offers more extensive coverage that can be applied to commercial vehicles as well as employee-owned vehicles that are being used for business purposes
Claims Evaluation
Claims evaluation is an important part of the insurance claims process. This includes an investigation, policy review, damage assessment and settlement determination.
Deductible
The amount the insured is required to pay in a loss before any payment is due from the insurance coverage. The insurance company pays the remainder of each covered loss up to the policy limits.
Hired Auto Coverage
Provides liability coverage for a vehicle that you do not own and is not listed on your policy, but it is leased, rented, borrowed or hired.
Auto Repair Authorization
Auto repair authorization is a typical repair process that may involve your insurance carrier.
Auto Warranty
This discusses what an auto warranty is and how it is different from auto insurance.
Car Insurance Deductible
Find out what a car insurance deductible is and how it works.
Car Replacement Cost
Understand car replacement costs and how they may impact your insurance claim.
Cargo Insurance
If you think you know what cargo insurance is, youre probably right. Discover different types, coverages, and exclusions in our glossary.
Claims Adjustment Expenses
Discover what claims adjustment expenses are and how they may impact the insurance process.
Continuous Auto Coverage
Learn what it means to have continuous auto insurance coverage.
Driving Record
What does a driver history report or driving record entail? Where can you get one? Discover the answers to your questions in our glossary.
Estimated Premium
Learn about what an insurance premium is and how insurance companies may estimate it.
Excess Wear Tear
Find out what is considered excess wear and tear on a vehicle.
First Notice of Loss
Learn what a first notice of loss is and how it may affect your auto insurance.
First Party Coverage
This page discusses what first-party coverage is and a few distinct types of first-part coverage.
Grace Period
Learn what a grace period is for a car insurance policy and what purpose it may serve.
Hit and Run
Learn what a hit and run is and how you can file a hit and run insurance claim.
Household Driver
Find out who may qualify as a household driver on your insurance policy.
Joint Policyholder
A joint policyholder typically refers to two or more people who live at the same address and own a single auto insurance policy.
Lapse in Coverage
This page helps to explain what lapse in coverage means.
No Fault Insurance Coverage
This glossary page discusses no-fault insurance is and how it may be different from other auto insurance coverages.
Non Owner Car Insurance
Looking for non-owner car insurance? Compare rates and get a fast, free non-owner car insurance quote today to insure yourself on the road.
Phantom Vehicle Accident
Learn why phantom vehicle accidents may not be covered by insurers and what to do if youre affected.
Policy Limit
This glossary page can help you understand what policy limits are.
Property Damage Liability Coverage
If you damage someones property while behind the wheel, property damage coverage makes a big difference. Learn what you need to know.
Rental Car Insurance vs Rental Reimbursement
This page breaks down the difference between rental reimbursement and rental car insurance.
Safe Driver Discount
A safe driver discount may save you money on your auto insurance premium.
Salvage Retention Title
This glossary page can help understand what a salvage retention title is.
Total Loss
This discusses what a total loss means from a car insurance perspective.
Umbrella Policy
Learn more about umbrella policy options, including how umbrella insurance works.
Underwriting
This glossary page can help understand what underwriting is.
Vehicle Replacement Cost
The difference between car replacement cost and actual cash value may be helpful for insurance buyers.
Waiting Period
When looking for a new vehicle insurance policy, consider the auto insurance waiting period.