Key Person Insurance
Life or health insurance of a key member of a company whose services are integral to the continuing success of a business and whose death or disability could cause the company significant financial losses.

Underinsured Motorist
Is coverage for any bodily injury resulting from the operation of a motor vehicle, which is covered under a liability policy at the time of the injury causing occurrence.

Loss
Any diminution of quantity, quality or value of property. With reference to policies of indemnity, this term means a valid claim for recovery thereunder. In its application to liability policies, the term refers to payments made on behalf of the insured.

Auto Replacement Coverage
A supplemental auto insurance coverage that guarantees your car will be completely repaired or replaced, even if the costs exceed its depreciated value.

Flood Insurance
Flood damage coverage is available from the federal government but is sold by licensed insurance agents. Flood coverage is often excluded under homeowners policies. However, flood damage is covered under the comprehensive portion of a car insurance policy.

Homeowner Policy
A package or multi-line policy providing the protection needed by most homeowners. The policy provides property insurance, including theft, with very broad coverage on both the building and the contents.

Personal Injury Protection
This is a mandatory no fault coverage for automobile insurance providing benefits including, but not limited to, medical expenses, loss of income resulting from an automobile accident, and essential services.

Health Maintenance Organization
A legal entity in the state that provides health care in a geographic area, and which accepts responsibility to provide directly or by contract an agreed-upon set of health services to a defined, voluntarily-enrolled group of individuals.

Major Medical Insurance
A type of health insurance that provides benefits for most types of medical expenses incurred up to a high limit, subject to a large deductible.

Additional Initial Claim
An additional unemployment claim filed after a break in unemployment claims, which results from an intervening employment period within the benefit year.