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Definitions (72)
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Collision Deductive Waiver
This coverage waves your collision deductible if you are hit by a negligent uninsured motorist. COMMON CARRIER LIABILITY Coverage for transportation firms that must carry any customer's goods so [..]
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collision
Reimburses you for damage to YOUR automobile sustained in a collision with another car or with any other object, movable or fixed, (for example, you accidentally backed into another object while pulli [..]
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claim
Notice to an insurer that under the terms of a policy, a loss maybe covered.
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CANCELLATION
The termination of insurance coverage during the policy period. Flat cancellation is the cancellation of a policy as of its effective date, without any premium charge.
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At-fault
The party that is legally liable for the damages in an accident.
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Automobile Insurance
Coverage on the risks associated with driving or owning an automobile. It can include collision, liability, comprehensive, medical, and uninsured motorist coverage's.
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Baillie
A person or concern having possession of property committed in trust from the owner.
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Bid bond
A guarantee that the contractor will enter into a contract, if it is awarded to him, and furnish such contract bond (sometimes called “performance bond”) as is required by terms thereof.
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Binder
A temporary or preliminary agreement which provides coverage until a policy can be written or delivered.
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Bodily injury
Any physical injury to a person. The purpose of liability insurance is to cover bodily injury to a third party resulting from the negligent or intentional acts of an insured.
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