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Common terms from your policies — short definitions, examples, and which coverages they relate to.
20 terms
Malpractice insurance is professional liability coverage for healthcare, legal, and other professionals accused of negligent services.
Malpractice Insurance is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Medical Malpractice, Professional Liability. For benefits insurance customers, understanding Malpractice Insurance can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Malpractice Insurance depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
A managing general agent is an intermediary with insurer authority to underwrite, bind, price, or administer certain policies or programs.
Managing General Agent is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Commercial Insurance, Specialty Insurance. For business insurance customers, understanding Managing General Agent can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Managing General Agent depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
A manuscript endorsement is custom policy wording written for a specific insured or situation.
Manuscript Endorsement is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Commercial Insurance, Specialty. For business insurance customers, understanding Manuscript Endorsement can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Manuscript Endorsement depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Market value is the price property would likely sell for in the open market and may differ from insurable replacement cost.
Market Value is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Property, Auto, Real Estate. For business insurance customers, understanding Market Value can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Market Value depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Matching coverage relates to replacing undamaged materials so repaired property reasonably matches existing property, depending on policy and law.
Matching Coverage is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Homeowners, Property. For personal insurance customers, understanding Matching Coverage can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Matching Coverage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Material misrepresentation is a false or incomplete statement that would affect an insurer's decision to issue, price, or continue coverage.
Material Misrepresentation is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with All Insurance Types. For business insurance customers, understanding Material Misrepresentation can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Material Misrepresentation depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
An MCS-90 endorsement is a federally required motor carrier endorsement guaranteeing payment for certain public liability obligations.
MCS-90 Endorsement is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Truckers, Commercial Auto. For transportation insurance customers, understanding MCS-90 Endorsement can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of MCS-90 Endorsement depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Mechanical breakdown insurance covers certain mechanical or electrical failures, distinct from collision, comprehensive, or maintenance coverage.
Mechanical Breakdown Insurance is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Auto, Equipment, Specialty. For business insurance customers, understanding Mechanical Breakdown Insurance can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Mechanical Breakdown Insurance depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Auto medical payments coverage helps pay medical or funeral expenses for covered people injured in an auto accident, regardless of fault.
Medical Payments Auto is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Personal Auto, Commercial Auto. For personal insurance customers, understanding Medical Payments Auto can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Medical Payments Auto depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Medical payments coverage pays limited medical expenses for guests or third parties injured in covered circumstances, regardless of legal liability.
Medical Payments Coverage is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Homeowners, Renters, General Liability, Auto. For personal insurance customers, understanding Medical Payments Coverage can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Medical Payments Coverage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Mine subsidence coverage insures damage caused by collapse or movement of land from underground mining activity.
Mine Subsidence Coverage is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Homeowners, Commercial Property. For personal insurance customers, understanding Mine Subsidence Coverage can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Mine Subsidence Coverage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Mobile home insurance covers manufactured or mobile homes, personal property, liability, and additional living expense exposures.
Mobile Home Insurance is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Mobile Home, Homeowners. For personal insurance customers, understanding Mobile Home Insurance can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Mobile Home Insurance depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
A mold exclusion limits or removes coverage for loss or liability arising from mold, fungi, wet rot, dry rot, or bacteria.
Mold Exclusion is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Homeowners, Commercial Property, General Liability. For personal insurance customers, understanding Mold Exclusion can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Mold Exclusion depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Moral hazard is increased chance of loss because a person may act dishonestly or carelessly due to insurance.
Moral Hazard is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with All Insurance Types. For business insurance customers, understanding Moral Hazard can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Moral Hazard depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Morale hazard is increased chance of loss due to carelessness or indifference because insurance exists.
Morale Hazard is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with All Insurance Types. For business insurance customers, understanding Morale Hazard can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Morale Hazard depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
A mortgagee clause protects a mortgage lender's interest in insured real property and may allow payment to the lender after a covered loss.
Mortgagee Clause is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Homeowners, Commercial Property. For personal insurance customers, understanding Mortgagee Clause can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Mortgagee Clause depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Motor truck cargo coverage insures goods or cargo transported by a motor carrier, subject to policy limits and exclusions.
Motor Truck Cargo is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Truckers, Commercial Auto, Inland Marine. For transportation insurance customers, understanding Motor Truck Cargo can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Motor Truck Cargo depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
A motor vehicle report shows driving history, license status, violations, and accidents used in auto underwriting.
Motor Vehicle Report is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Auto, Commercial Auto. For business insurance customers, understanding Motor Vehicle Report can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Motor Vehicle Report depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Motorcycle insurance may include liability, collision, comprehensive, medical payments, uninsured motorist, and accessory coverage.
Motorcycle Insurance is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Motorcycle. For powersports insurance customers, understanding Motorcycle Insurance can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Motorcycle Insurance depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Mysterious disappearance is loss of property under unknown circumstances; coverage depends on policy wording.
Mysterious Disappearance is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Homeowners, Renters, Inland Marine. For powersports insurance customers, understanding Mysterious Disappearance can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Mysterious Disappearance depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
