Insurance Terms Vocabulary Quizlet
Consequential loss a loss that happens as a consequence of or as a result of another.
Insurance terms vocabulary quizlet. Do not accept your insurance carrier s underpayment or wrongful denial of your residential foundation damage claimmany insurance companies have changed their policies and coverage related to residential foundation and water damage claims. 1 the state of being liable 2 anything for which a person is liable. It can be anything from an electronic car alarm that goes off if your vehicle gets tampered with to a bar that you lock across your. One of the most common insurance vocabulary words.
Our insurance terms glossary is divided alphabetically by insurance terms in a quick reference guide to assist understanding the language commonly used by insurance companies. Insurance policy legal document issued to the insured setting out the terms of the contract of insurance. Practice and master them all with a quizlet study set. The insurer agrees for a consideration to assume to a specified extent the losses suffered by the insured.
The company did all it could to avoid liability for the damage. Insurance a formal social device for reducing risk by transferring the risks of several individual entities to an insurer. Continuous insurance policyholder has been insured by one or more insurance companies without any lapse in coverage for a specified period of time. An anti theft device is one that you use to deter someone from stealing your car.
Quizlet makes simple learning tools that let you study anything. Agent who arranges insurance. Learn insurance industry vocabulary that will help you better understand your insurance policies. Learn vocabulary terms and more with flashcards games and other study tools.
French vocabulary lesson insurance assurance. Here is a list of basic french vocabulary you will find very useful when you need to take out an insurance policy in france. Use this informative property and casualty insurance glossary to better understand basic insurance terms and definitions. These car insurance terms will help to educate you and help you to get the best deals on car insurance.
Good insurance brokers find the best deals for their clients and bad ones find the highest commissions. Start studying insurance vocab. A form of risk protection that exchanges the uncertainty of a possible large financial loss for a certain smaller payment. Policy documents contain a number of insurance terms because they typically define the limitations of risk and liability on the insured and any exclusions of coverage.
Middleman between insurer and policyholder.
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