Translate INSURANCE–EZE INTO BUSINESS–EASE
Is your current insurance policy Greek to you? Whenever you stumble over insurance jargon, click on this translator tool. It contains plain English definitions of hundreds of insurance terms.
Simply click on the first letter of the term you need defined below. Then select the word from the scrolling list. In seconds, we'll translate that term from insurance jargon into plain English.
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The termination of an insurance policy due to nonrenewal.
When your insurance coverage ends because you don't renew your policy.
The party to whom a lease is granted, meaning a “tenant.”
The person who is renting the property.
Responsible according to the law. The term is most commonly used in a monetary sense.
Generally, financial damages that you're legally obligated to pay
Provides protection for the insured against financial loss on agreed upon terms and conditions arising out of his/her legal liability resulting from financial loss to other persons.
Any form of coverage, provided for in the insurance contract, that protects business owners and employees against claims of financial damage from others that they're legally obligated to pay.
The sum or sums to which an insurance company protects the insured on a particular policy. Bodily injury and property damage liability covered by general liability policies are subject to a limit for each occurrence. In certain forms, however, such as malpractice, product, and manufacturers’ and contractors’ liability, there is also an aggregate limit of liability for the total amount of all claims during the policy period.
The maximum amount that an insurance company agrees to pay in the case of loss.
Any decrease in quantity, quality or value of property. With reference to policies of indemnity, this term is often used as an expression of the amount of damage that might or might not be covered in whole or in part depending upon the cause of the loss and the coverage afforded. In its application to liability policies, it refers to payments made on behalf of the insured.
Generally refers to the amount to be paid according to the insurance contract.
Loss control and inspection work done by insurance companies or independent organizations for the purpose of recommending the change or removal of conditions which would likely cause loss.
A service that specializes in helping business owners reduce or prevent loss in their workplaces.
The definitions contained herein are for informational purposes only,are not intended to be all inclusive, and may not apply in all situations. You should not rely on these definitions for interpretation of policy coverages, terms and conditions.