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Commercial Insurance Definitions

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We try not to use industry “jargon” when talking to you. But like in any business, certain terms or words have special meaning. This is very much the case with insurance. For instance, Replacement Cost Valuation when used in a property policy does not mean in the event of a loss your property is guaranteed to be replaced with new property.

The following is intended to provide only the very basic information to help you become an informed buyer. Please call us if you have any questions or need an explanation of your specific coverage or policy language.

DISCLAIMER - The abbreviated outlines of coverage provided in this site are not intended to express any legal opinion as to the nature of insurance coverage. The terms shown on this site provide only the most basic and general description of terms used by the insurance industry. Please read your policy for specific details of coverage.
ONLY your policy provides coverage and only the definitions in your policy apply.

Boiler & Machinery

Business Income

Commercial Auto

Crime Bond

Directors & Officers

Garage

General Liability

Inland Marine

Professional Liability

Property

Trucking

Umbrella

Workers’ Comp

Please also refer to our Links page for additional resources. Specifically, the Insurance Industry Links have very good reference areas for better understanding of insurance.

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