![]() One of the documents you’ll receive as part of your motor insurance policy. This is a fixed amount that you and the provider have agreed on at the start of your motor insurance policy term. The amount the insurance provider will pay if your car gets totaled or stolen. ![]() ![]() This is a fixed amount that you and the provider have agreed on at the start of your policy term. A good example would be bystander/s and/or person/s in the other car/s involved, or your passengers that aren’t your relatives or employees. This refers to the other person/people involved in the accident that’s not the 1st party, the 2nd party, or relatives or employees of the 1st party. This is the insurance company where you applied for car insurance. This is the owner of the vehicle and the insurance policy.Īlso called Insurer. Below is a list of commonly used car insurance terms you’ll encounter:Īlso called the Assured. It might also be hard to recall your car insurance agent’s explanation of the terms but we’re here to refresh your memory. It’s easy to get lost in a sea of unfamiliar words when you first read your motor insurance policy.
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