Insurance providing liability and other coverages for the operation of a motor vehicle.

Party for whose benefit a trust is managed; also, recipient of the amount to be paid under an insurance property.

Insurance that covers for losses due to accident, chance, or negligence.

Clause in a fire policy that requires the insured to maintain coverage equal to a certain percentage of the total current value of the insured property.

Automobile insurance that protects against upset and direct and accidental damage due to colliding with another object.

Comprehensive Insurance

Insurance that covers against all damage to the insured’s car except that caused by collision or upset.

Modifications made to the standard fire policy to eliminate certain risks for coverage. Also called riders.

Exceptions to insurance coverage.

Insurance that covers for losses due or damage due to fire. (And usually smoke as well.)

Party protected or covered if the loss occurred.

Party who will indemnify if loss occurs.

Insurance that covers personal injury or property damage claims for which the insured is legally responsible.

Insurance that pays to a named beneficiary or the deceased’s estate upon the death of the insured.

Insurance that requires that their parties to an automobile accident be covered by their own insurance company, regardless of who is at fault.

Consideration for insurance contract.

Insurance that covers for losses resulting from perils such as fire, theft, or windstorm.

Potential loss that is insured against.

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Law Chapter 19

Term	Definition
Automobile Insurance	Insurance providing liability and other coverages for the operation of a motor vehicle.
Beneficiary	Party for whose benefit a trust is managed; also, recipient of the amount to be paid under an insurance property.
Casualty Insurance	Insurance that covers for losses due to accident, chance, or negligence.
Coinsurance	Clause in a fire policy that requires the insured to maintain coverage equal to a certain percentage of the total current value of the insured property.
Collision Insurance	Automobile insurance that protects against upset and direct and accidental damage due to colliding with another object.
Comprehensive Insurance	Insurance that covers against all damage to the insured’s car except that caused by collision or upset.
Endorsements	Modifications made to the standard fire policy to eliminate certain risks for coverage. Also called riders.
Exclusions	Exceptions to insurance coverage.
Fire Insurance	Insurance that covers for losses due or damage due to fire. (And usually smoke as well.)
Insured	Party protected or covered if the loss occurred.
Insurer	Party who will indemnify if loss occurs.
Liability Insurance	Insurance that covers personal injury or property damage claims for which the insured is legally responsible.
Life Insurance	Insurance that pays to a named beneficiary or the deceased’s estate upon the death of the insured.
No-Fault Insurance	Insurance that requires that their parties to an automobile accident be covered by their own insurance company, regardless of who is at fault.
Policy	Written contract of insurance.
Premium	Consideration for insurance contract.
Property Insurance	Insurance that covers for losses resulting from perils such as fire, theft, or windstorm.
Risk	Potential loss that is insured against.

Created by: Ahammer26

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