Insurance Glossary

Auto Insurance

Pays for bodily injuries to other people from an accident in which you are liable. Coverage is provided whether your car is driven by you, a qualified family member or another driver using your car with permission. Includes the costs to defend claims and/or lawsuits.

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Pays for property damage to other people from an accident in which you are liable. Coverage is provided whether your car is driven by you, a qualified family member or another driver using your car with permission. Includes the costs to defend claims and/or lawsuits.

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Covers bodily injuries to you, qualified family members and any other person in your covered vehicle, caused by a uninsured motorist or hit-and-run driver. You select the limits but they must be the same as your Bodily Injury limits.

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Covers bodily injuries to you, qualified family members and any other person in your covered vehicle, caused by a underinsured motorist or hit-and-run driver. You select the limits but they must be the same as your Bodily Injury limits.

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Covers property damage to your vehicle caused by an uninsured motorist or hit and run driver. Not available on older vehicles.

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Covers necessary medical treatment arising from an auto accident, regardless of fault, for you and your qualified family members or passengers. Provides peace of mind that passengers will have some medical coverage even if they don’t have their own medical insurance.

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Pays for damage to your car caused by colliding with another car or any object. Pays for up to the actual cash value of your vehicle minus the deductible you select. In Oregon you are free to take your car to any repair shop you choose.

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Pays for damage to your car by events other than a collision. Includes damage from causes such as fire, vandalism, windstorm, sandstorm, falling objects, animals, water or flood and theft. Pays for up to the actual cash value of your vehicle minus the deductible you select.

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Auto Glass Replacement

Glass Deductible Buyback

Comprehensive deductible reduced to $100 for glass losses. Cracked or chipped glass including windshields can be repaired for free. If a complete replacement is required the cost is limited to $100.

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Reasonable and necessary services for up to $150 are covered. Services available 24 hours a day anywhere in the United States and Canada.

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Loss of Use

Rental Reimbursement

Coverage to provide a rental car while your car is being repaired for collision or comprehensive loss in excess of your deductible.

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Residual Debt Coverage

GAP Coverage

Provides coverage to pay the additional cost of terminating a finance contract in the event that the vehicle is a total loss.
Maximum benefit of 25% of the vehicle ACV at the time of loss.

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Provides accidental death and disability benefits. All vehicles on the policy carry the same limits.

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Adds coverage to permanently installed sound and radio equipment up to selected limit.

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Provides accident forgiveness for 1 in 3 years at the household level. Also New car replacement coverage – in the event of a total loss, settlement will be based on the cost to replace the covered vehicle without depreciation.

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The policy normally limits costs to repair or replace any furnishing, equipment, or paint that is not manufactured by the Original Equipment Manufacturer (OEM) to $1000. Can purchase increased coverage up to $10,000.

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Home Insurance

Provides coverage to your dwelling based on the estimated cost of replacing the building and restoring the quality and features as they were before.

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Extends the Dwelling coverage.

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Coverage for additional buildings on the property including barns, sheds, etc.

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Covers personal property owned or used by the insured anywhere in the world. Includes kitchen items, furniture, clothing, etc. Jewelry, firearms, computers, and securities are covered but have limits with the policy.

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Covers the cost of repair or replacement of personal belongings without any deduction for depreciation.

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Covers living expenses up to 24 months if the home becomes uninhabitable.

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Covers lost rental income if a covered loss makes a rental dwelling you own unfit to live in.

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Pays when you’re legally liable for someone else’s bodily injury or property damage resulting from an accident, negligent acts by you or qualified household members (on or off premises) and the acts of your pets.

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Building codes have change significantly over time. This coverage provides additional insurance to cover the increased costs of repairs to your home as a result of changes in building codes.

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Pays when you’re legally liable for someone else’s bodily injury or property damage arising out of ownership, maintenance, or use of your rental dwelling.

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Covers earthquake damage to dwelling, subject to a specified deductible (typically 10% of the dwelling replacement amount). Also provides $1,000 coverage for separate structures, $2,000 for personal property, and $2,500 for loss of use. Does not include Extended Replacement Cost and Building Ordinance or Law coverages.

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A Standard Flood Insurance Policy is a single-peril (flood) policy that pays for direct physical damage to your insured property up to the replacement cost or Actual Cash Value (ACV) of the actual damages or the policy limit of liability, whichever is less. You can insure your home with flood insurance up to $250,000 for the building and $100,000 for its contents.

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Provides liability coverage for personal injury including libel, slander, malicious prosecution, false arrest, wrongful imprisonment.

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These coverages allow you to protect you home business inventory, equipment, and provide liability coverage. These are normally excluded from a homeowners policy.

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Provides coverage for a new home as it is being built.

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This coverage supplements homeowners insurance by allowing customers to replace destroyed property in ways beneficial to the environment. For example it includes $25,000 for extra cost of rebuilding or replacing with “green” materials and reimbursement for recycling rather than disposing debris. Also provides reimbursement for extra costs of temporarily using other means of power if alternative power equipment (such as solar panels) is unusable.

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Provides property and liability coverages for homeowners with an incidental farm or ranch on their property.

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Identity Management Services

Identity Shield

Provides professional services for an insured who has experiences identity fraud, account takeover, the loss of identity or travel documents while travelling. Also provides an email alert system for the insured to monitor their own credit and public records.

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Coverage is normally limited to $200 per item and $2,500 total. This option allows the homeowner to extend the total limit up to $4,000.

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This coverage eliminates the deductible for direct accidental physical loss or damage to glass attached to the insured’s dwelling and separate structures.

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This coverage provides property, liability, and medical payments coverage for jet skis, wet bikes or similar water jet driven recreational craft under 12 feet in length.

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This extends coverage to trees, shrubs, plants and lawns for damage caused by wind and hail.

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This coverage provides bodily injury and property damage coverages for home childcare services up to six children.

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Coverage is normally limited to $1,000 per item and $5,000 total for jewelry, watches, precious stones, and furs. This option allows the homeowner to extend the total limit up to $200,000.

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Coverage is normally limited to $3,000 total for firearms including scopes or mounts. This option allows the homeowner to extend the total limit up to $200,000.

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Provides coverage for unexpected financial losses due to the breakdown of covered major appliances, heating, air conditioning, plumbing and electrical systems.

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Life Insurance

One of the biggest advantages of term insurance is its lower initial cost in comparison to permanent insurance. 5, 10, 20, and 30 year periods of guaranteed level premiums are available. Term insurance is often a good choice for people in their family-formation years, especially if they're on a tight budget, because it allows them to buy high levels of coverage when the need for protection is often greatest.

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Permanent insurance provides lifelong protection, and the ability to accumulate cash value. Cash values can be used in the future for any purpose you wish. If you like, you can borrow cash value for a down payment on a home, to help pay for your children's education or to provide income for your retirement.

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This describes policies for any individual under 21 years of age. Coverage is available even for infants.

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This pays a lump sum benefit upon the insured’s first diagnosis of a covered condition including heart attack, life-threatening cancer, stroke, end-stage kidney failure, major organ transplant, paralysis, and loss of limb. This is an add on coverage to a term life policy.

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A policy for a business who has a key employee or owner. The business is the beneficiary thereby allowing the business to survive while replacing the key person after an untimely death.

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A business policy typically used by partners in a business. Upon the death of one of the partners the policy is used to buy the deceased partners share from the remaining partner(s).

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