Bodily Injury Liability:

• Covers other people's bodily injuries or death for which you are responsible. It also provides for a legal defense if another party in the accident files a lawsuit against you. Such claims may be for medical bills, loss of income or pain and suffering. In the event of a serious accident, you want enough insurance to cover a judgment against you in a lawsuit, without jeopardizing your personal assets. Bodily injury liability covers injury to other people, not your vehicle or others on your policy.

Collision Coverage:

• Coverage that pays to repair or replace your car after an accident or collision. A deductible can apply depending on the insured's requests at the start of the policy.
• Covers damage to your car when your car hits, or is hit by, another vehicle, or other object. Pays to fix your vehicle less the deductible you choose.

Comprehensive Insurance:  

• Auto Insurance Coverage providing protection in the event of physical damage (other than collision) or theft of the insured car. For example, fire damage, theft or a cracked windshield would be covered under the comprehensive section.

Condo Owner, Co-Op or Townhouse Insurance:

• This policy-covers personal property, liability coverage and improvements to the owner's unit. The condo association's insurance coverage normally covers most of the actual structure. 

Deductible:

• Amount of loss that the insured pays before the insurance kicks in.

Fiduciary:

• The persons responsible for management of a company’s 401(k) plan, or other employee benefit plan(s). 

Full Glass Coverage:

• In addition to comprehensive coverage, Full Glass insurance is usually purchased to cover damage caused to plate glass.  This does not include side or rearview mirrors.

Homeowners Insurance:

• An elective combination of coverage for the risks of owning a home. Can include losses due to fire, burglary, vandalism, earthquake, and other perils. 

Home Insurance Liability Protection:

• This type of protection is broke down into two parts: Personal Liability and Medical Payments.  Personal Liability provides liability coverage against a lawsuit or claim stemming from bodily injury or property damage to others caused by an accident on your property.  Medical Payments includes coverage to pay medical expenses for persons accidently injured on your property regardless of fault.  It is important to remember that with every homeowner’s insurance policy there are exclusions.   

Home Insurance Property Protection:

• Most of the time this protection is broken down into four parts: Dwelling, Other Structures, Personal Property and Loss of Use.  Dwelling usually covers your home, attached structures, household fixtures, plumbing, wiring and heating.  Other structures covered detached structures like garages and equipment attached to the property such as driveways and patios.  Personal property refers to the contents of the home and personal items owned by the residents.  Loss of use usually covers the living expenses should you not be able to remain within the home with repairs are being made.   

Indemnity:

• Restoration to the victim of a loss by payment, repair or replacement.

Liability:

• Broadly, any legally enforceable obligation. General liability insurance is designed to protect business owners and operators from a wide variety of liability exposures. Exposures could include liability arising from accidents resulting from the insured's premises or operations, products sold by the insured, operations completed by the insured, and contractual liability.

Medical Payments Coverage:

• Covers medical expenses to you and your passengers injured in an accident. This coverage applies, regardless as to who is at fault. Medical Payments may also cover policyholders and their family members when they are injured while riding in someone else's car or when a car hits them while on foot or bicycling.  

Non-owned Auto Coverage:

• Provides liability coverage for vehicles a business may lease, hire, rent or borrow. 

Personal Injury Protection:

• Pays basic expenses for an insured and his or her family in states with no-fault auto insurance. No-fault laws generally require drivers to carry both liability insurance and personal injury protection coverage to pay for basic needs of the insured, such as medical expenses, in the event of an accident.
• Optional coverage for things not usually covered in general policies such as lost wages and childcare expenses. The coverage would be effective due to bodily injury caused by a covered accident.

Personal Liability:

• Personal Liability refers to the party or parties involved in an accident are solely responsible for any debts accumulated from said accident

Premium:

• The price of insurance protection for a specified risk for a specified period of time.

Property Damage Liability:

• Covers you if your car damages someone else's property. Usually it is their car, but it could be a fence, a house or any other property damaged in an accident. It also provides you with legal defense if another party files a lawsuit against you. It is a good idea to purchase enough of this insurance to cover the amount of damage your car might do to another vehicle or object.

Renters Insurance:

• Renter’s policy-covers 17 named perils and includes liability coverage. The dwelling itself is not insured just the possessions of the tenant with the policy. 

Special Homeowners Insurance:

• This policy-covers all causes of loss except those specifically excluded by the policy. 

Surety:

• Surety is a specialized line of insurance where one party agrees to be responsible for the debt or obligation of another party. 

Surety Bond:

• A written agreement allowing for monetary compensation to be paid by the surety should there be a failure by the person required to perform specified acts with a certain time period.

Term Life Insurance:

• Life insurance that provides protection for a specified period of time. Common policy periods are one year, five years, 10 years or until the insured reaches age 65 or 70.

Towing and Rental Reimbursement:

• These two options, in addition to comprehensive coverage, pay for the costs related to the towing of a vehicle because of an accident or mechanical failure and the costs of a rental car if the driver’s car is temporarily out of service due to collision or other damage.

Transport Trailer Coverage:

• This coverage applies especially to any physical damaged incurred to the transport trailer, in additional the collision and comprehensive coverage.

Umbrella Liability Policy: