Insurance Vocabulary

Front

Adjuster

Back

A person who investigates and settles insurance claims.

Tags

CCSS.L.1.6

CCSS.L.3.6

CCSS.L.4.6

CCSS.L.K.5A

Front

Liability

Back

Responsibility to another person for one’s own negligence.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

Premium

Back

The amount paid by a policyholder to an insurance company to obtain or maintain an insurance policy.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

Renter's Insurance

Back

Provides coverage for a policyholder’s belongings, liabilities, and possibly living expenses in the event of a loss.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

Deductible

Back

The amount the insured must pay for a loss before any payment is due from the company.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

Policyholder

Back

The person or party who owns an individual insurance policy.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

Coverage

Back

The amount of protection given by an insurance policy.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

Claim

Back

A request made by the policyholder to the insurance company for payment of a loss.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

Underwriting

Back

The process by which an insurer evaluates the risk of insuring a client.

Front

Exclusion

Back

A provision in an insurance policy that eliminates coverage for certain risks.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C