Auto
Covers if I need a tow
Roadside
Policy that covers my personal property but no structures
Renters policy
My out of pocket expense if there is a claim
Deductible
If I don't pay my insurance on time but the carrier gives me a few days until they charge a late fee
Grace period
Person who sells insurance
Agent
Covers the other party when I am at fault in an accident
Collison
Policy that covers a home that I live in
Homeowners/HO3
Person who helps me through the claim process once a claim is filed
Adjuster/Claim Rep
Discount if I pay the full year up front
Paid in Full
Company that provides insurance policies
Carrier
Covers hail, fire, theft, vandalism and hitting a live animal?
Comprehensive
Policy that covers a home I own but rent to others
Landlord/Dwelling Fire
ACV
Actual Cash Value
Charge to pay monthly
Service fee
Means of protection from a financial loss in exchange for a fee
Insurance
Covers if I rear-end someone
Collision
Covers if my sump pump fails causing water in my basement
Water Backup
RCV
Replacement Cost Value
If my policy cancelled but the carrier will allow me to pay to restart policy
reinstatement
Hail, Fire, Theft etc
Perils
Covers people in my car for injuries no matter who is at fault in an accident
Medical Payments
Covers if my dog bites my neighbors child
Liability
When a carrier goes to the at fault party for reimbursement of monies paid in a claim
Subrogation
If my insurance is escrowed with my mortgage who pays the carrier for my home policy
Mortgage company
Best insurance agency
EIG