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Law Chapter 19

TermDefinition
Automobile insurance contract (policy) between a vehicle owner and an insurer, mandated by state financial responsibility
Beneficiary individual, entity (such as a charity), or organization designated to receive assets, income, or benefits
Casualty insurance legal and financial contract protecting individuals or businesses against losses from legal liability, accidents, and unexpected hazards,
Coinsurance law is a risk-sharing mechanism where the insured pays a percentage of losses
Collision insurance voluntary, optional form of automobile insurance that covers the cost of repairing or replacing the insured's vehicle after a crash with another vehicle
Comprehensive insurance
Endorsements
Exclusions
fire insurance
grace period
indemnify
insurable interest
insurance
insured
insurer
liability insurance
life insurance
no-fault insurance
policy
premium
property insurance
risk
Created by: cgonzalez2800
 

 



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