Coverage

Definition

  • A form of financial protection offered through an insurance policy.

Synonyms
safeguard, assurance, security, protection, backing

Related Terms and Acronyms

  • Automobile Liability Insurance Definition,
    • Insurance coverage for damages caused in traffic collisions.
  • Concurrent Insurance Definition,
    • Multiple insurance policies that cover the same exposure.
  • Conditional Sales Floater Definition,
    • Insurance that covers losses on property sold conditionally or on an instalment plan.
  • Coverage Area Definition,
    • A geographical area where travel insurance coverage applies.
  • Future Purchase Option Definition,
    • A provision that gives the policyholder the option to purchase additional insurance coverage at a future date.
  • Health Insurance (HI) Acronym,
    • Insurance that covers the costs of medical expenses for insured persons.
  • Impaired Insurer Definition,
    • An insurance company that is financially insolvent or illiquid and in risk of being unable to pay insurance claims.
  • Insurance (insur) Abbreviation,
    • An arrangement where one party provides financial protection to another party for specific damages or losses.
  • Insurance Policy Definition,
    • A legal contract between an insurer and entity that specifies what the insurer is required to cover and any benefits the insured entity is entitled to.
  • Non-Scheduled Personal Property Definition,
    • Assets considered common enough that they are automatically covered by property insurance without the need for an appraisal or receipt.
  • Occurrence Definition,
    • An event that triggers the need for insurance coverage.
  • Paid-up Additional Insurance Definition,
    • The option for a policyholder to purchase additional insurance coverage with additional premiums or policy dividends.
  • Policy Declarations Definition,
    • The section of the insurance policy that declares the specifics of the insurance policy including premiums, named perils, and policy limits, amongst others.
  • Travel Insurance Definition, Very Important,
    • Insurance that covers a number of events that can occur when an individual is travelling out of the province or country.
  • Uninsured Motorist Coverage Definition,
    • Auto insurance that covers collision damages caused by a driver without auto insurance.
  • Utilization Definition,
    • How frequently a policyholder makes use of their insurance policy.
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