Underinsured Motorist
Is coverage for any bodily injury resulting from the operation of a motor vehicle, which is covered under a liability policy at the time of the injury causing occurrence.

Open Enrollment
A period of time when eligible subscribers may enroll in, or transfer between available programs providing health care coverage.

Insured Mortgage
A mortgage insured against loss to the mortgagee in the event of default and failure of the mortgaged property to satisfy the balance owing plus costs of foreclosure.

Homeowner Policy
A package or multi-line policy providing the protection needed by most homeowners. The policy provides property insurance, including theft, with very broad coverage on both the building and the contents.

Total Loss
When the cost to repair a vehicle approaches or exceeds the vehicle's actual cash value.

Key Person Insurance
Life or health insurance of a key member of a company whose services are integral to the continuing success of a business and whose death or disability could cause the company significant financial losses.

Actual Cash Value
A form of insurance coverage that pays damages equal to the replacement value of damaged property with the deduction of depreciation of value.

Liability Limits
The sum or sums beyond which a liability insurance company does not protect the insured on a particular policy, similar to limit of liability.

Whole Life Insurance
Cash value life insurance which combines protection against premature death with a savings account. Premiums are at fixed rates and guaranteed and remain the same throughout the life of the policy.

Good Driver Plan
A rating program offered by some insurance companies that reduces your premium if you have had no accidents or traffic violations within a specified time period.