What are insurance terms?

Our insurance terms glossary is divided alphabetically by insurance terms in a quick reference guide to assist understanding the language commonly used by insurance companies. Policy documents contain a number of insurance terms because they typically define the limitations of risk and liability on the insured and any exclusions of coverage.

What is a policy term?

Policy Term The policy term is the duration for which your insurance policy is valid. It's crucial to renew your policy before it expires to maintain coverage. 24. Umbrella Policy

What is an insurance policy & how does it work?

An insurance policy is a written contract between the policyholder and the insurer that lays out the details of the coverage. This includes coverage, exclusions, deductibles, and premiums. This is the amount charged by an insurance company in return for coverage. There are several factors that impact premiums.