Glossary of Insurance Terms

Auto Insurance Terms

Liability Coverage
This coverage helps to protect you from expenses related to bodily injury or property damage you or your vehicle cause in an accident. When choosing liability coverage, consider things like how much money you make and the property you own. Your liability coverage should be high enough to protect you if you are sued after an accident.

Medical Coverage
This coverage provides for medical expenses to you and your passengers that are the result of an accident. People who frequently carry passengers often carry a higher amount than people who drive alone.

Uninsured/Underinsured Motorist Coverage
This coverage pays for expenses associated with bodily injury or death from an accident caused by an uninsured, underinsured or hit-and-run driver who is at fault. It also covers you if you are hit as a pedestrian.

Collision Coverage
This coverage pays to repair the damage done to your vehicle due to an accident. We can help you determine the degree you need this coverage based on the agreed value of your vehicle. Total losses will be paid based on the agreed value less deductible.

Comprehensive Coverage
This coverage pays to repair or replace your vehicle if it is stolen, vandalized or damaged in some way other than in a collision. This also includes loss from fire, cracked windshields, floods, falling objects and wind. Total losses will be paid based on the agreed value less deductible.

Home Owners Insurance Terms

Property or Dwelling Coverage
This typically pays to repair or rebuild your home if it’s damaged or destroyed by an insured event like a kitchen fire or windstorm.

Personal Liability Coverage
Personal Liability Coverage. This applies if someone is injured or property is damaged and you are to blame. When choosing liability coverage, consider things like how much money you make and the assets you own. Your liability coverage should be high enough to protect your assets if you are sued.

Medical Coverage
This covers medical expenses for guests if they are injured on your property, and in certain cases covers people who are injured off of your property. It does not cover health care costs for you or other members of your household or household staff.

Additional Living Expenses
If you can’t live in your home because of a covered loss, the insurance company will pay additional living expenses up to the policy limit while damage is assessed and your home is repaired or rebuilt.

Personal Property
Your home is filled with furniture, clothes, sports equipment and other items that mean a lot to you. This helps replace these items if they are lost, stolen or destroyed as a result of a covered loss.

Scheduled Personal Property Coverage
If you have special possessions such as jewelry, art, antiques or collectibles you may want to talk to us about this additional coverage. It provides broader coverage for specific items.