Comprehensive Coverage
Coverage that pays for damage to or the loss of your vehicle from causes other than collision.

Deductible
The amount of losses a policyholder pays. Either a specific dollar amount, a percentage of the claim amount, or a specified amount of time that must expire before benefits are paid.

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.

Lapse
Termination of a policy because of failure to pay the premium.

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.

Policy
The contract form issued by the company to explain the coverage provided. It is a legal document.

Lapsed Policy
A policy that has terminated for non-payment of premiums.

No-Fault
Auto insurance coverage which pays for each driver’s own injuries, despite who was responsible for the accident. No-fault coverage varies with each state.

Waiting Period
The period of time between the beginning of a disability and the date benefits begin.

Pre-Existing Condition
A condition of health or physical condition that existed before the policy was issued.