Insurance Glossary

“Out of sequence,” in the context of insurance, typically refers to a situation where insurance claims are not processed in the chronological order in which the related events occurred.

In insurance, a peril is a specific event or cause of loss that may be covered by an insurance policy.

Personal accident insurance is a type of insurance that provides financial protection in the event of accidental death, bodily injury, or disablement.

A type of insurance policy that provides coverage for valuable personal items, such as jewelry, fine art, or collectibles, beyond the limitations of standard homeowner’s or renter’s insurance.

Personal auto insurance is a type of insurance policy that provides financial protection to individuals in case of accidents, damages, or losses incurred while operating a personal vehicle.

A type of insurance coverage that protects businesses against claims of defamation, libel, slander, false arrest, malicious prosecution, wrongful eviction, wrongful entry, and copyright infringement.

Personal Injury Protection (PIP) is a type of auto insurance coverage that’s mandatory in some U.S. states and optional in others. It’s also known as “no-fault” coverage because it pays for certain expenses regardless of who caused the accident.

Personal liability insurance is a type of coverage that protects individuals and their families from financial losses if they are found legally responsible for causing bodily injury or property damage to others.

In the insurance industry, personal lines refer to insurance products that are designed for individuals and families, providing coverage for personal risks, such as those related to their homes, vehicles, health, and personal liability.

Coverage that helps pay to repair or replace your car if it’s damaged.

The policy declaration, also known as the declarations page or dec page, is the first page of an insurance policy that provides a summary of the policy’s coverage, limits, deductibles, and other key information.