How to Speak Insurance Like a Pro
How to Speak Insurance Like a Pro
Insurance can be a confusing topic, especially when it comes to the terminology. But don’t worry, you’re not alone. Even insurance agents have to look up terms sometimes!
Here are some of the most common insurance terms you should know:
- Premium: This is the amount of money you pay for your insurance coverage.
- Deductible: This is the amount of money you have to pay out of pocket before your insurance company will start paying for a claim.
- Beneficiary: This is the person or people who will receive the money from your insurance policy if you die.
- Claim: This is a formal request to your insurance company for payment for a covered loss.
- Liability coverage: This type of coverage protects you from financial losses due to injuries or property damage you cause to others.
- Declarations page: This is the first page of your insurance policy that summarizes your coverage.
It’s important to understand these terms so you can make informed decisions about your insurance coverage. And if you ever have any questions, don’t hesitate to contact your insurance agent.
Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder
Search All Blogs
Read More Blogs
Shielding Your Dream: Essential Insurable Risks Every Small Business Faces
Protect your small business! Understand key insurable risks like liability, vandalism, theft, employee injuries, and business interruption, and how insurance can help.
Finding Your Financial Foundation: Understanding the Minimum Life Insurance You Need
What’s the minimum life insurance you really need? Learn about covering final expenses, debts, and providing immediate financial relief for your family.
The Century-Long Rumble: The Epic Rivalry Between Ford and Chevy
Relive the classic Ford vs. Chevy rivalry, from the Model T era to the Mustang vs. Camaro showdown and today’s truck dominance.
Living Large: Peeking at the United States’ Most Outlandishly Expensive Homes
Explore the incredible world of ultra-luxury real estate with a look at some of the most expensive homes recently sold in the United States.
Curious Origins: Unraveling the Stories Behind Everyday Phrases
Uncover the surprising stories behind everyday phrases like “holy Toledo,” “crocodile tears,” “jaywalking,” and more!
The Unprotected Majority: Why Business Insurance Isn’t a Luxury, It’s a Necessity
Don’t gamble with your business! Learn why business insurance is a critical investment, not a luxury, and how affordable coverage can safeguard your future.
Declutter Your Life: Beyond the Physical to a More Streamlined Existence
Tired of clutter? Discover actionable tips to declutter not just your belongings, but also your finances and digital life for a more streamlined and stress-free life.
Decoding the Fine Print: 4 Essential Auto Insurance Terms You Need to Know
Demystify auto insurance! Understand the real meaning behind state minimums, uninsured motorist, no-fault, and full coverage to protect yourself on the road.
Apartment Living Made Easy: Essential Tips for a Smooth Move and Happy Tenancy
Moving into an apartment? Get smart with these essential tips on landlords, leases, parking, documentation, and the crucial need for renters insurance.
The Heart of the Game on Screen: Celebrating Iconic Sports Movies
Relive the magic of iconic sports movies like “Hoosiers,” “Field of Dreams,” “Brian’s Song,” and more, celebrating the unforgettable stories and moments they brought to the screen.