Insurance Vocabulary

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Collision Insurance

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A type of car insurance that covers damage to your own motor vehicle in the event of an accident.

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Renters Insurance

Back

Insurance that covers personal items owned by a tenant, protecting against loss or damage.

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Declarations Page

Back

The page of a car insurance policy that summarizes the coverage provided and the maximum dollar limit for claims.

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Health Insurance

Back

Insurance that provides protection against financial loss from medical bills.

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Insurance Fraud

Back

An act by either the buyer or seller of an insurance contract to gain money illegally.

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Comprehensive Insurance

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A type of car insurance that covers damage to your vehicle from non-collision events, such as theft or natural disasters.

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Bodily Injury Liability

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Insurance that covers medical expenses and legal fees for injuries caused to others in an accident where you are at fault.

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Uninsured Motorist Coverage

Back

Insurance that protects you if you are in an accident with a driver who does not have insurance.

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Premium

Back

The amount paid for an insurance policy, typically on a monthly or annual basis.

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Deductible

Back

The amount you pay out of pocket before your insurance coverage kicks in.