banner
banner
banner

Glossary

Adjuster

A person licensed by the N.C. Department of Insurance whose job is to evaluate the amount of loss and to determine the amount the insurance company will pay.

Agent

A person licensed by the N.C. Department of Insurance to sell and service insurance policies.

At-Fault

Negligent; failing to act as a reasonably prudent person would have acted under similar circumstances.

Claim

A request to an insurance company for payment of a loss.

Coverage

The amount and risk covered by an insurer.

Deductible

The portion of each covered claim that you are responsible for paying.

Insured

The person who is covered by the insurance contract.

Insurer

The insurance company that is underwriting the contract of insurance.

Liability Insurance

Protects other individuals for whom you have caused property damage and/or bodily injury.

Limits of Liability

The maximum amount the insurance company will pay in the event of a loss.

Premium

The amount paid in consideration for an insurance policy.