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Glossary of Insurance Terms

Need to learn more about an insurance term? Find an easily accessible list of insurance terms with definitions here at the Insurance Terms Glossary.
Liability Insurance Coverage
When do I use my liability insurance coverage and is it required?
Insured Person
Who is covered on my insurance policy and if someone lives with me will they be covered too?
Insurance Deductible
How much is my insurance deductible and when do I need to pay it?
Comprehensive Insurance Coverage
When is Comprehensive Insurance Coverage used and does my insurance deductible apply?
Collision or Accident Insurance Coverage
What is collision or accident insurance coverage and will it help me in a car accident?
Insurance Claim
What is an insurance claim and what happens after I file an insurance claim to the insurance company?
Casualty Insurance
Who needs Casualty Insurance? Are insurance agents licensed in casualty insurance?
Insurance Broker
Should I use an Insurance Broker? What's the difference between an insurance broker and an insurance agent?
Bodily Injury
What does bodily injury mean in insurance? Is death considered a bodily injury in insurance?
Blanket Insurance
When do I need a blanket insurance policy? How can I cover items at my home and apartment?
Insurance Binder
What is an insurance binder and why is it only temporary insurance coverage?
State Auto Insurance Plan
Does my state offer an auto insurance plan? What kind of insurance coverages are included in my state auto insurance plan?
Insurance Agent
What is an Insurance Agent? What type of education does an insurance agent have?
Adhesion Contract
What is an Adhesion Contract? Is an insurance policy an adhesion contract?
Accident
How is an accident in insurance defined? What does it mean to the insurance company to have an accident?
Actual Cash Value
What is Actual Cash Value? What does ACV mean?
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