Glossary
Covered Autos : Any vehicle shown in the
declarations, or in some cases, a substitute vehicle used
temporarily because of breakdown or repair of the
insured's own covered vehicle.
Customized Equipment : Items not included in
standard insurance options available for cars. These may
include extra electronic equipment, special paint or
exterior items, or amenities added to the inside of a van
or truck.
Claim : Notification given to an insurance
company in request for the payment of compensation.
Comprehensive
Cover : Is classified as all risks cover
providing cover for damage to your vehicle and yourself in
the event of accident, and as a means of cover in the
event of a fire or theft.
Cover
: Refers to the risks that your insurance
policy will protect you against.
Damages : A sum of money that a party is
legally obligated to pay to another as compensation for
injury.
Discount Auto Insurance : A policy is eligible
for premium discounts if something about the driver or car
that makes the policy a better-than-average risk.
Earned
Premium : The portion of a premium that has
been used up during a policy term. With a one-year policy,
half of the total premium has been earned after six
months.
Expiration Date : The date your coverage ends.
There is usually a time of day associated with this date,
for example, an expiration date of 5/1/2002 at 12:01am.
This means your coverage ends one minute after midnight on
the date listed.
Extended Transportation Expenses : See Rental
Reimbursement
Family Automobile Policy : Now
replaced by the Personal Auto Policy, the Family Auto
Policy was a package policy in which both liability and
physical damage protection to an insured's vehicle was
offered under one policy.
Excess :
This is the amount that you are have to pay, before your
insurer will pay out on the claim.
Exclusion
: This is something which is not covered by
your car insurance policy. It may be a person, item or
incident.
Fully Comprehensive : See Comprehensive Cover.
Green Card :
This is an internationally recognized document to prove
that your vehicle meets the minimum car insurance
requirement for the country you are visiting outside of
the UK. You can collect a "green card" from your
car insurance provider.
Group Discount : Applied when the named insured
maintains membership in or association with an approved
group that has established a relationship with Response
Insurance.
Hood Restraint And Backup Battery Anti-theft Device : The hood restraint is a device preventing full access to under-hood components, including chain restraints that allow hood opening a maximum of four inches, a mechanical or electrical device that physically locks the hood down, or a mechanical or electrical device that prevents the factory-supplied hood mechanism from operating. The backup battery is an auxiliary power source that trips an alarm device if the main power source is disconnected or if wires to the alarm device are cut or disconnected.
