bankbazaar.ph

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Definitions (25)

1

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claim


A request raised to get a reimbursement on the expenses incurred to repair damages to the car or get a replacement in case of car theft. It is as per the terms and conditions of the car insurance policy.
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accident


A sudden unfortunate incident leading to injury, loss of life or damage to property.
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assured


Synonym for a policyholder, insured individual or someone with an insurance policy.
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Auto insurance


An insurance policy that protects you against losses incurred while owing or using an automobile.
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Cover


The benefits and terms of protection offered in the car insurance policy.
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Comprehensive Cover


An additional component of the third party car insurance cover on your automobile. This portion of the cover includes damage or loss of car caused by an accident or theft. It also includes repair cost, replacement cost and transportation charges incurred owing to uninsured drivers.
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discount


A reduction in your car insurance premium, provided your car meets the terms and conditions mentioned in the policy.
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DEDUCTIBLE


A part of the auto insurance claim that needs to be paid by you, prior to the expenses settled by an insurance claim.
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Fire and Theft Cover


An additional feature of the car insurance wherein the losses resulting from theft or a fire accident, are covered by the insurer.
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INSURER


A company providing car insurance that safeguard you and your vehicle on the road from death, damage, loss or injury.
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