Glossary
Plain-language definitions of insurance terms.
- Umbrella Policy
- Liability coverage that sits above your auto, home, or boat policies and pays after those limits are exhausted. Usually sold in million-dollar increments.
- Underwriting
- The process an insurer uses to evaluate your risk and decide whether — and at what price — to offer coverage.
- Uninsured Motorist Coverage
- Auto coverage that pays for your injuries (and sometimes property damage) when the at-fault driver has no insurance. Required in some states, optional in others...
- Universal Life Insurance
- A type of permanent life insurance with flexible premiums and a cash-value component that earns interest. Coverage can last your lifetime if the policy stays ad...
- Usage-Based Insurance
- Auto coverage priced partly on your actual driving, measured through a mobile app or plug-in device that tracks factors like mileage, braking, and time of day.
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