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Glossary

From deductibles to riders to indemnity, insurance terminology can seem confusing. We’ve put together some common terms and their definitions to help.

Didn’t find what you were looking for?

Try another search term or check out the sections below.

    A - F

    Acts Insurance
    Actual Cash Value
    Additional Liability Insurance
    Additional Named Insured
    Adjuster Insurance
    Admitted Insurance
    Aggregate Limit
    Arbitration Insurance
    Assessed Value Of Property
    Business Interruption Insurance
    Care And Custody Insurance
    Certificate Of Insurance
    Claims Made Policy
    Commercial Auto Insurance
    Contingent Insurance
    Continuity Date
    Corporate Legal Liability Insurance
    Cyber Extortion
    Declaration Page Insurance
    Deductible Insurance
    Equipment Breakdown Coverage
    ERP Insurance
    Exclusive Remedy
    Extra Expense Coverage
    Fiduciary Liability Insurance
    First Party Claim

    G - L

    General Liability Class Codes
    Grace Period Insurance
    Hired Non-Owned Auto Insurance
    Indemnity Insurance
    Insurance Appraisal
    Insurance Expiration Date Definition
    Insurance Premium
    Insurance Qualifying Event
    Insurance Risk Management
    Insurance Underwriter
    Insuretech
    Legal Insurance
    Loss Payee Insurance
    LRO Insurance

    M - R

    Mediation
    Non Admitted Insurance
    Occurrence Based Policy
    Per Occurrence Limit
    Personal & Advertising Injury
    Products Completed Operations
    Products Completed Operations Aggregate
    Replacement Insurance
    Retroactive Date Insurance
    Rider Insurance

    S - Z

    Sole Proprietor Insurance
    Subrogation Claims
    Tail Insurance
    Third Party Claim
    Third Party Insurance
    Umbrella Insurance

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    Feefo reviews: Hiscox rated 4.7/5 with 935 reviews between January 1, 2025 - January 1, 2026

    * Any cost, premium, or coverage stated before an official customer quote are estimates and an approximation and are not guaranteed. Actual cost, premium, and coverage are subject to the unique considerations of each individual risk. Customer quotes are based on the information provided to Hiscox, and are subject to required underwriting and rating factors. Until an official customer quote is provided, all communication on this website or advertisement is provided as an example for informational purposes only, and is neither an offer nor a guarantee of available premium or coverage. Any coverage afforded by the products described are subject to and governed by the terms and conditions of each policy issued. This information may not be used to modify any policy that might be issued. Any information provided to assist in understanding the coverage we offer does not modify any insurance policy, nor does it imply that any claim is covered. Coverage is not available in all states or classes of business.

    © 2026 Hiscox Inc. All rights reserved. Underwritten by Hiscox Insurance Company Inc., 125 S. Wacker Dr., Suite 2080, Chicago, IL 60606. As of December 31, 2025, HICI had admitted assets of $2,182,031,119 and policyholders surplus of $665,461,908. Total liabilities were $1,516,569,211 (inclusive of $920,762,464 of loss reserves) and paid-up capital stock was $4,242,000.

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