Insurance Glossary

Understanding insurance terms made simple

General

Accidental Death Benefit

Accidental Death Benefit Definition Accidental Death Benefit refers to an important aspect of an insurance policy. Why I...

Act of God

Act of God Definition Act of God refers to an important aspect of an insurance policy. Why It Matters Understanding Act ...

Actual Cash Value (ACV)

Actual Cash Value (ACV) Definition Actual Cash Value (ACV) refers to an important aspect of an insurance policy. Why It ...

Aggregate Limit

Aggregate Limit Definition Aggregate Limit refers to an important aspect of an insurance policy. Why It Matters Understa...

All-Risk Policy

All-Risk Policy Definition All-Risk Policy refers to an important aspect of an insurance policy. Why It Matters Understa...

Base Flood Elevation (BFE)

Base Flood Elevation (BFE) Definition Base Flood Elevation (BFE) refers to an important aspect of an insurance policy. W...

Beneficiary

Beneficiary Definition Beneficiary refers to an important aspect of an insurance policy. Why It Matters Understanding Be...

Bodily Injury Liability

Bodily Injury Liability Definition Bodily Injury Liability refers to an important aspect of an insurance policy. Why It ...

Business Interruption Insurance

Business Interruption Insurance Definition Business Interruption Insurance refers to an important aspect of an insurance...

Business Owner’s Policy (BOP)

Business Owner’s Policy (BOP) Definition Business Owner’s Policy (BOP) refers to an important aspect of an insurance pol...

Claim

Claim Definition Claim refers to an important aspect of an insurance policy. Why It Matters Understanding Claim helps yo...

Coinsurance

Coinsurance Definition Coinsurance refers to an important aspect of an insurance policy. Why It Matters Understanding Co...

Collision Coverage

Collision Coverage Definition Collision Coverage refers to an important aspect of an insurance policy. Why It Matters Un...

Commercial Auto Insurance

Commercial Auto Insurance Definition Commercial Auto Insurance refers to an important aspect of an insurance policy. Why...

Commercial Property Insurance

Commercial Property Insurance Definition Commercial Property Insurance refers to an important aspect of an insurance pol...

Commercial Umbrella Policy

Commercial Umbrella Policy Definition Commercial Umbrella Policy refers to an important aspect of an insurance policy. W...

Comprehensive Coverage

Comprehensive Coverage Definition Comprehensive Coverage refers to an important aspect of an insurance policy. Why It Ma...

Comprehensive Deductible

Comprehensive Deductible Definition Comprehensive Deductible refers to an important aspect of an insurance policy. Why I...

Copayment (Copay)

Copayment (Copay) Definition Copayment (Copay) refers to an important aspect of an insurance policy. Why It Matters Unde...

Coverage Period

Coverage Period Definition Coverage Period refers to an important aspect of an insurance policy. Why It Matters Understa...

Cyber Liability Insurance

Cyber Liability Insurance Definition Cyber Liability Insurance refers to an important aspect of an insurance policy. Why...

Deductible

Deductible Definition Deductible refers to an important aspect of an insurance policy. Why It Matters Understanding Dedu...

Depreciation

Depreciation Definition Depreciation refers to an important aspect of an insurance policy. Why It Matters Understanding ...

Dwelling Coverage

Dwelling Coverage Definition Dwelling Coverage refers to an important aspect of an insurance policy. Why It Matters Unde...

Elevation Certificate

Elevation Certificate Definition Elevation Certificate refers to an important aspect of an insurance policy. Why It Matt...

Endorsement

Endorsement Definition Endorsement refers to an important aspect of an insurance policy. Why It Matters Understanding En...

Excess Coverage

Excess Coverage Definition Excess Coverage refers to an important aspect of an insurance policy. Why It Matters Understa...

Exclusion

Exclusion Definition Exclusion refers to an important aspect of an insurance policy. Why It Matters Understanding Exclus...

Extended Replacement Cost

Extended Replacement Cost Definition Extended Replacement Cost refers to an important aspect of an insurance policy. Why...

Flood Proofing

Flood Proofing Definition Flood Proofing refers to an important aspect of an insurance policy. Why It Matters Understand...

Flood Zone

Flood Zone Definition Flood Zone refers to an important aspect of an insurance policy. Why It Matters Understanding Floo...

Gap Insurance

Gap Insurance Definition Gap Insurance refers to an important aspect of an insurance policy. Why It Matters Understandin...

General Liability Insurance

General Liability Insurance Definition General Liability Insurance refers to an important aspect of an insurance policy....

Grace Period

Grace Period Definition Grace Period refers to an important aspect of an insurance policy. Why It Matters Understanding ...

Hazard Insurance

Hazard Insurance Definition Hazard Insurance refers to an important aspect of an insurance policy. Why It Matters Unders...

Health Insurance Deductible

Health Insurance Deductible Definition Health Insurance Deductible refers to an important aspect of an insurance policy....

Hurricane Deductible

Hurricane Deductible Definition Hurricane Deductible refers to an important aspect of an insurance policy. Why It Matter...

Indemnity

Indemnity Definition Indemnity refers to an important aspect of an insurance policy. Why It Matters Understanding Indemn...

Insurance Glossary

Insurance Glossary Welcome to the insurance glossary of the o'donohoe agency. Here you can find definitions and explanat...

Liability Coverage

Liability Coverage Definition Liability Coverage refers to an important aspect of an insurance policy. Why It Matters Un...

Loss of Use Coverage

Loss of Use Coverage Definition Loss of Use Coverage refers to an important aspect of an insurance policy. Why It Matter...

Marine Insurance

Marine Insurance Definition Marine Insurance refers to an important aspect of an insurance policy. Why It Matters Unders...

Mitigation Discount

Mitigation Discount Definition Mitigation Discount refers to an important aspect of an insurance policy. Why It Matters ...

Named Perils Policy

Named Perils Policy Definition Named Perils Policy refers to an important aspect of an insurance policy. Why It Matters ...

Named Storm Exclusion

Named Storm Exclusion Definition Named Storm Exclusion refers to an important aspect of an insurance policy. Why It Matt...

National Flood Insurance Program (NFIP)

National Flood Insurance Program (NFIP) Definition National Flood Insurance Program (NFIP) refers to an important aspect...

Ordinance or Law Coverage

Ordinance or Law Coverage Definition Ordinance or Law Coverage refers to an important aspect of an insurance policy. Why...

Out-of-Pocket Maximum

Out-of-Pocket Maximum Definition Out-of-Pocket Maximum refers to an important aspect of an insurance policy. Why It Matt...

Peril

Peril Definition Peril refers to an important aspect of an insurance policy. Why It Matters Understanding Peril helps yo...

Personal Injury Protection (PIP)

Personal Injury Protection (PIP) Definition Personal Injury Protection (PIP) refers to an important aspect of an insuran...

Personal Property Coverage

Personal Property Coverage Definition Personal Property Coverage refers to an important aspect of an insurance policy. W...

Policy Limit

Policy Limit Definition Policy Limit refers to an important aspect of an insurance policy. Why It Matters Understanding ...

Policyholder

Policyholder Definition Policyholder refers to an important aspect of an insurance policy. Why It Matters Understanding ...

Pre-Existing Condition

Pre-Existing Condition Definition Pre-Existing Condition refers to an important aspect of an insurance policy. Why It Ma...

Premium

Premium Definition Premium refers to an important aspect of an insurance policy. Why It Matters Understanding Premium he...

Product Liability Insurance

Product Liability Insurance Definition Product Liability Insurance refers to an important aspect of an insurance policy....

Professional Liability (E&O)

Professional Liability (E&O) Definition Professional Liability (E&O) refers to an important aspect of an insurance polic...

Property Damage Liability

Property Damage Liability Definition Property Damage Liability refers to an important aspect of an insurance policy. Why...

Replacement Cost Value (RCV)

Replacement Cost Value (RCV) Definition Replacement Cost Value (RCV) refers to an important aspect of an insurance polic...

Rider

Rider Definition Rider refers to an important aspect of an insurance policy. Why It Matters Understanding Rider helps yo...

Risk Assessment

Risk Assessment Definition Risk Assessment refers to an important aspect of an insurance policy. Why It Matters Understa...

Salvage Title

Salvage Title Definition Salvage Title refers to an important aspect of an insurance policy. Why It Matters Understandin...

Scheduled Personal Property

Scheduled Personal Property Definition Scheduled Personal Property refers to an important aspect of an insurance policy....

SR-22 Insurance

SR-22 Insurance Definition SR-22 Insurance refers to an important aspect of an insurance policy. Why It Matters Understa...

Storm Surge

Storm Surge Definition Storm Surge refers to an important aspect of an insurance policy. Why It Matters Understanding St...

Subrogation

Subrogation Definition Subrogation refers to an important aspect of an insurance policy. Why It Matters Understanding Su...

Term Life Insurance

Term Life Insurance Definition Term Life Insurance refers to an important aspect of an insurance policy. Why It Matters ...

TWIA ({state} Windstorm Insurance Association)

TWIA (tx Windstorm Insurance Association) Definition TWIA (tx Windstorm Insurance Association) refers to an important as...

Umbrella Policy

Umbrella Policy Definition Umbrella Policy refers to an important aspect of an insurance policy. Why It Matters Understa...

Underinsured Motorist Coverage (UIM)

Underinsured Motorist Coverage (UIM) Definition Underinsured Motorist Coverage (UIM) refers to an important aspect of an...

Underwriting

Underwriting Definition Underwriting refers to an important aspect of an insurance policy. Why It Matters Understanding ...

Uninsured Motorist Coverage (UM)

Uninsured Motorist Coverage (UM) Definition Uninsured Motorist Coverage (UM) refers to an important aspect of an insuran...

Universal Life Insurance

Universal Life Insurance Definition Universal Life Insurance refers to an important aspect of an insurance policy. Why I...

Whole Life Insurance

Whole Life Insurance Definition Whole Life Insurance refers to an important aspect of an insurance policy. Why It Matter...

Windstorm Deductible

Windstorm Deductible Definition Windstorm Deductible refers to an important aspect of an insurance policy. Why It Matter...

Workers’ Compensation

Workers’ Compensation Definition Workers’ Compensation refers to an important aspect of an insurance policy. Why It Matt...

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