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Is your current insurance policy Greek to you? Has a client demanded you have a type of coverage you've never heard of? Whenever you stumble over insurance jargon, click on this translator tool. It contains plain English definitions of hundreds of insurance terms.
Simply click on the first letter of the term you need defined below. Then select the word from the scrolling list. In seconds, we'll translate that term from insurance jargon into plain English.
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Bodily Injury Liability Insurance
Boiler and Machinery Insurance
Business Interruption Insurance
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One who has temporary possession of property belonging to another. Bailees have different degrees of liability for such property.
A person who is temporarily responsible for someone else’s property.
A legal agreement issued either by an agent or a company to provide temporary insurance until a policy can be written. It should contain a definite time limit, should be in writing, and should clearly designate the company in which the risk is bound as well as the amount, the perils insured against, and the type of insurance.
Written proof of insurance either an agent or company can give you until your policy is actually issued.
Protection against loss arising out of the liability imposed by law upon the insured for damages due to bodily injury, sickness or disease sustained by any person or persons (other than employees).
Covers your business if it is found responsible for the sickness, injury or death of someone other than your employees.
Insurance against loss arising from the operation of pressure vessels and mechanical and electrical equipment.
Protects against the sudden and accidental breakdown or explosion of many different kinds of equipment, including boilers, machinery, electrical equipment, pressure vessels, computers, fax machines, and computerized telephone systems. Now called “Equipment Breakdown Insurance.”
A contract that guarantees the performance of an obligation, or protects against dishonesty of employees.
A written agreement that guarantees you’ll do what you say you’re going to do or that your employees will be honest.
Generally defined in policies as breaking and entering the premises of another, with felonious intent and with visible signs of the forced entry, while the premises are closed for business. (This differs from the strict legal definition of the crime of burglary.)
When someone breaks in and damages or steals your property while your business is closed.
Covers fixed expenses and the loss of profit in the event physical property is damaged by a named peril; requires that the business be shut down in whole or in part as a direct result of the named peril.
Can reimburse you for lost earnings if your business is forced to shut down because of a fire, windstorm, explosion or other insured loss.
This document outlines in general terms the coverages that may be afforded under a Hartford policy. All policies must be examined carefully to determine suitability for your needs and to identify any exclusions, limitations or any other terms and conditions that may specifically affect coverage. In the event of a conflict, the terms and conditions of the policy prevail. All Hartford coverages described in this document may be offered by one or more of the property and casualty insurance company subsidiaries of The Hartford Financial Services Group, Inc.
USAA is acting as an agent through its insurance agency affiliate, USAA General Agency, Inc. or USAA Insurance Agency, Inc. The USAA Business Insurance Program offered through the agency affiliate is available only to persons eligible for USAA membership. The Hartford Fire Insurance Company and its affiliates provide the insurance for this program. All insurance applications are subject to underwriting to determine acceptability. Product availability and coverage may vary by state. Insurance descriptions are general in nature. Please refer to your policy for full disclosure of coverages, limitations and conditions.