General Knowledge
A fee paid for insurance.
What is a premium?
Your vehicles unique 17 characters that can be found on the dashboard.
What is the VIN?
Coverage that provides protection for your residence and its associated financial risks.
What is homeowners insurance?
Covers injuries or damages caused to other people or their property.
What is liability insurance?
The amount of money you pay out of your own pocket towards a covered claim before the insurer is required to pay.
What is a deductible?
The causes of loss insured against in an insurance policy.
What is a peril?
Pays for damages if you or a family member are involved in an accident with an uninsured or hit-and-run driver.
What is uninsured motorist's protection?
Coverage that pays when your personal possessions are damaged or stolen.
What is personal property coverage?
Clause in a contract by which one party agrees to release another party from all legal liability.
What is a hold-harmless clause?
The reduction, decrease, or disappearance of value of the person or property insured, caused by a peril.
What is a loss?
The entity named in the declarations as opposed to someone who may have an interest in the policy.
What is the named insured?
This limit of insurance applies to the entire accident without a separate limit for each person.
What is combined single limit?
Insurance provision that requires the insured to maintain insurance at a stated percentage of its actual value. Also known as a penalty for under reporting/insuring the value of your property.
What is co-insurance?
Provides coverage for incidents that happen during your policy period, regardless of when you file a claim.
What is an occurrence policy?
This process may be used to settle an insurance dispute between an insurance provider and a policyholder.
What is arbitration?
The amount it will take to replace your property or belongings without any deduction for depreciation.
What is replacement cost value?
An optional coverage that protects against damage to your vehicle caused by non-collision events.
What is comprehensive insurance?
This can help pay for minor injuries that happen to your guests on your property, regardless of who is at fault.
What is medical payments coverage?
Document used by professionals such as contractors, project managers, and vendors to provide proof of insurance to clients and others.
What is a certificate of insurance?
Person who investigates and settles claims.
What is a Claims Adjuster?
Written provision that adds to, deletes, or modifies the provisions in the original contract.
What is an endorsement?
Insurance that covers physical injuries caused by a vehicle accident for which you are responsible.
What is bodily injury liability?
This coverage can help pay for housing and additional living expenses if your home is damaged by a covered loss.
What is loss of use?
Any person or party besides the policyholder who is added to a policy.
What is an additional insured?
After your insurance company has paid a covered claim, they have a right to request reimbursement from the at-fault party.
What is subrogation?