This page provides a comprehensive glossary of terms commonly used in the insurance industry. Whether you're a consumer looking to understand your policy or a professional in the field, this guide should help clarify many of the terms you may encounter.

Common Insurance Terms

  • Premium: The amount of money you pay for insurance coverage.
  • Coverage: The extent of protection provided by an insurance policy.
  • Claim: A formal request for payment made to an insurance company under the terms of an insurance policy.
  • Deductible: The amount you must pay out of pocket before your insurance coverage begins.
  • Policy: A legal contract between an insurance company and a policyholder outlining the terms and conditions of coverage.

Useful Resources

For more detailed information on insurance terms and concepts, please visit our Insurance 101 guide.


Insurance Concept

By understanding these basic terms, you'll be better equipped to navigate the world of insurance and make informed decisions about your coverage.