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 policy

Insurance that cover for losses due to an 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

(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 to offset a loss to another

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 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 a 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 cover for losses due to an 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	(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 to offset a loss to another
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 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: MACKENZIEMOSHER

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