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

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

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.

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

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

Exceptions to insurance coverage.

Insurance that covers for loss or damage due to fire, and usually smoke as well.

Period of time during which an overdue insurance premium can be paid to keep the policy in force.

Potential to sustain loss if the insured property is damaged or destroyed or if the insured person is injured or dies.

Agreement under which one party will pay offset a loss to another.

Party protected or covered of 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 insured.

Insurance that requires that the 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 motor vehicle.
Beneficiary	Party for whose benefit a trust is managed; also, recipient of the amount to be paid under an insurance policy.
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.
Collision Insurance	Automobile insurance that protects against upset and direct and accidental damage due to colliding with another object.
Endorsements	Also called riders, modifications made to the standard fire policy to eliminate certain risks for coverage.
Exclusions	Exceptions to insurance coverage.
Fire Insurance	Insurance that covers for loss or damage due to fire, and usually smoke as well.
Grace Period	Period of time during which an overdue insurance premium can be paid to keep the policy in force.
Indemnify	To make good a loss.
Insurable Interest	Potential to sustain loss if the insured property is damaged or destroyed or if the insured person is injured or dies.
Insurance	Agreement under which one party will pay offset a loss to another.
Insured	Party protected or covered of 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 insured.
No-fault Insurance	Insurance that requires that the 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: khouck27

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