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bankbazaar.ph
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Definitions (25)
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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.
Meaning awaits approval from a moderator |
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accident
A sudden unfortunate incident leading to injury, loss of life or damage to property.
Meaning awaits approval from a moderator |
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assured
Synonym for a policyholder, insured individual or someone with an insurance policy.
Meaning awaits approval from a moderator |
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Auto insurance
An insurance policy that protects you against losses incurred while owing or using an automobile.
Meaning awaits approval from a moderator |
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Cover
The benefits and terms of protection offered in the car insurance policy.
Meaning awaits approval from a moderator |
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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.
Meaning awaits approval from a moderator |
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discount
A reduction in your car insurance premium, provided your car meets the terms and conditions mentioned in the policy.
Meaning awaits approval from a moderator |
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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.
Meaning awaits approval from a moderator |
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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.
Meaning awaits approval from a moderator |
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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.
Meaning awaits approval from a moderator |
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