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Common terms from your policies — short definitions, examples, and which coverages they relate to.
15 terms
Tail coverage is an extended reporting period allowing claims to be reported after a claims-made policy ends.
Tail 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 Professional Liability, D&O, EPLI. For business insurance customers, understanding Tail 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 Tail Coverage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Tenant improvements and betterments are alterations or additions made by a tenant to leased premises.
Tenant Improvements and Betterments 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 Property. For business insurance customers, understanding Tenant Improvements and Betterments 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 Tenant Improvements and Betterments depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Tenant legal liability covers a tenant's legal responsibility for damage to rented premises.
Tenant Legal Liability 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 Renters, Commercial General Liability. For personal insurance customers, understanding Tenant Legal Liability 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 Tenant Legal Liability depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Term life insurance provides coverage for a specified period, such as 10, 20, or 30 years, without permanent cash value.
Term Life 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 Life Insurance. For benefits insurance customers, understanding Term Life 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 Term Life Insurance depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Terrorism coverage applies to certain terrorism-related losses, often through policy endorsements and federal terrorism insurance rules.
Terrorism 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 Commercial Property, General Liability, Workers Compensation. For business insurance customers, understanding Terrorism 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 Terrorism Coverage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
A theft sublimit is a lower limit for theft of certain property categories such as jewelry, money, firearms, or business property.
Theft Sublimit 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, Commercial Property. For personal insurance customers, understanding Theft Sublimit 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 Theft Sublimit depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
A third-party claim is made by someone other than the insured against the insured or the insured's policy.
Third-Party Claim 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 Liability, Auto, General Liability. For business insurance customers, understanding Third-Party Claim 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 Third-Party Claim depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Title insurance protects real estate owners or lenders against covered losses from title defects, liens, or ownership disputes existing before the policy date.
Title 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 Title Insurance, Real Estate. For personal insurance customers, understanding Title 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 Title Insurance depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Tools and equipment coverage insures business tools and smaller equipment, often subject to item limits and theft conditions.
Tools and Equipment 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 Inland Marine, Contractors. For powersports insurance customers, understanding Tools and Equipment 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 Tools and Equipment Coverage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
A total loss occurs when property is destroyed, missing, or damaged so badly that repair is not practical or economical.
Total Loss 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, Property, Boat, RV. For powersports insurance customers, understanding Total Loss 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 Total Loss depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Trailer interchange coverage insures physical damage to non-owned trailers in the insured's possession under a trailer interchange agreement.
Trailer Interchange 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 Truckers, Commercial Auto. For transportation insurance customers, understanding Trailer Interchange 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 Trailer Interchange Coverage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Transit coverage insures property while being transported from one location to another.
Transit 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 Inland Marine, Cargo. For transportation insurance customers, understanding Transit 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 Transit Coverage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Travel insurance covers risks such as trip cancellation, interruption, medical emergencies, baggage loss, and travel delay, depending on the plan.
Travel 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 Travel Insurance. For personal insurance customers, understanding Travel 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 Travel Insurance depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Trip cancellation coverage reimburses prepaid, nonrefundable trip costs if a covered reason causes cancellation before departure.
Trip Cancellation 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 Travel Insurance. For personal insurance customers, understanding Trip Cancellation 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 Trip Cancellation depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Trip interruption reimburses certain unused trip costs and additional transportation expenses when a covered reason interrupts a trip after it begins.
Trip Interruption 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 Travel Insurance. For personal insurance customers, understanding Trip Interruption 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 Trip Interruption depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
