Glossary of Terms

Call Us for a Free Quote Today!

We understand that Insurance may seem like a second language, but below are common terms you will hear in regards to insurance that will help clarify and understand the industry. If you have any questions, please feel free to contact us.


A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

A

  • All Other Perils (AOP) - Deductible based off non-hurricane claims, such as Fire, theft, vandalism, water damage. Does not include Flood Insurance
  • Actual Cash Value (ACV)
  • Agreed Value -

B

  • Bodily Injury - Covers the legal liability for a covered accident that involves injury to another person, up to the limit you select.

C

  • Collision - When your vehicle collides with another vehicle or object.
  • Comprehensive - "other than collison", examples: Fire, Theft, Vandalism, etc.

D

  • Deductible -
  • Dwelling -

E

F

G

  • GAP Coverage -

I

  • Inflation Guard

J

K

L

  • Law and Ordinance Coverage -
  • Loan/Lease payoff - see GAP Coverage
  • Loss of Use -

M

  • Medical Payments (Auto)
  • Medical Payments (Home)

N

  • National Flood Insurance program (NFIP) -

O

  • Office of Insurance Regulation (OIR) -
  • Other Structures -

P

  • Personal Injury Protection (PIP)
  • Personal Liability
  • Personal Property (Content)
  • Property Damage -

Q

R

  • Rental Reimbursement -
  • Replacement Cost -
  • Roadside Assistance -

S

T

U

  • Uninsured/Underinsured Motorist (UM) -

V

W

  • Wind Mitigation

x

Y

Z