Insurance Glossary

A type of insurance that provides coverage for farms and agricultural businesses, including protection for property, liability, livestock, and crops.

A fidelity bond is a type of insurance that protects businesses from financial losses caused by dishonest or fraudulent acts committed by their employees.

Fire insurance is a type of property insurance that covers damage or loss to property caused by fire.

The initial notification to an insurance company that a loss has occurred.

First-party coverage is a type of insurance that protects the policyholder’s own property or person, rather than covering their liability for damages or injuries caused to others.

A flat cancellation in insurance refers to the cancellation of a policy with no premium charge and a full refund to the policyholder, even though the policy was in effect for a period of time.

“Floater insurance” can have different meanings depending on the context and geographic location.

A type of insurance that covers damage to property caused by floods.

A full term rewrite in insurance refers to the replacement of an existing insurance policy with a new policy for the same coverage, but with a new policy period that starts immediately upon the issuance of the new policy.

Gap insurance is an optional auto insurance coverage that can help protect you financially if your car is totaled (declared a total loss) or stolen.

The Garage Coverage Form is a specialized insurance form used in the United States to provide coverage for businesses in the automotive industry, such as auto repair shops, car dealerships, and parking garages.

Garage liability insurance is a specialized type of insurance designed for businesses in the automotive industry, such as:

Auto repair shops
Auto body shops
Car dealerships
Gas stations
Parking garages
Auto towing companies.