Insurance Vocab

The Company or agency that writes an insurance policy

• Insurer

• Insured

• Policyholder

• Underwriter

What it would cost to replace a piece of property, or rebuild a structure

• Comprehensive Coverage

• Replacement Cost

• Deductible

• Premium

The owner of an insurance policy

• Insured

• Insurer

• Policyholder

• Underwriter

The act or process of colliding; a crash or conflict

• Peril

• Risk

• Collision

• Liability

An individual, usually but not always the buyer, covered by an insurance policy

• Policyholder

• Insured

• Insurer

• Underwriter

Auto insurance coverage can help to provide medical payment for treatment of bodily injury to yourself.

• Medical Payments

• Comprehensive Coverage

• Bodily Injury Liability

Insurance designed to pay for the repair or replacement of the policy owner's car in the event of damage not resulting from an accident

• Collision

• Comprehensive Coverage

• Property Damage Liability

• No Fault Insurance

Protection against a specific kind of loss

• Deductible

• Coverage

• Premium

• Risk

A cause of loss

• Insurance

• Premium

• Peril

• Risk

A contract written to protect individuals named in the policy against specific future losses

• Premium

• Insurance Policy

• Deductible

• Coverage