Glossary
ABC / DEF / GHI / JKL / MNO / PQR / STU / VWX / YZ
GHI
Gap Insurance: covers the difference between a car's actual cash value when it is stolen or wrecked and the amount the consumer owes the leasing or finance company
General Liability Insurance: protects the business against third-party liability claims
Homeowners Insurance Policy: typically covers the house, the garage and other structures on the property, as well as personal possessions inside the house such as furniture, appliances and clothing, against a wide variety of perils including windstorms, fire and theft; also includes Loss of Use, which reimburses the policyholder for the extra cost of living elsewhere while the house is being restored after a disaster; liability portion of the policy covers the homeowner for accidental injuries caused to third parties and/or their property; flood and earthquake coverage is excluded and must be purchased separately
Identity Theft Insurance: coverage for expenses incurred as the result of an identity theft.
Insurance Score: confidential rankings based on credit information; most insurance companies use insurance scores as an insurance underwriting and rating tool
