Insurance 101

Glossary

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Total Loss: condition of an automobile or other property when damage is so extensive that repair costs would exceed the value of the vehicle or property

Umbrella Liability Insurance: provides "catastrophic liability" coverage that extend above and beyond those of the insured's other commercial policies

Umbrella Policy: coverage for liability losses above the limit of a underlying insurance coverage such as homeowners' or auto insurance

Uninsured Motorists Coverage: coverage that protects a policyholder from injuries caused by uninsured and hit-and-run drivers

Underinsured Motorists Coverage: coverage that protects a policyholder for injuries from a driver that maintained insurance but at an amount lower than the policyholder's

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