Glossary: A to L
View: M to Z
Any Driver
A policy that allows anyone to drive a vehicle with permission of the owner.
Arbitration
A method of arriving at an acceptable agreement between two disputing parties. An independent person or body listens to the arguments of both parties and then makes a decision which is binding on all concerned.
Cancellation Clause
A provision in an insurance contract that permits the insurer or the insured to cancel a policy at any time before a specified expiration date.
Claim
The term used to describe the process of getting an insurance company to pay out on your policy.
Comprehensive Cover
Covers all related risks of that product's insurance policy. It is also the most expensive form of policy. It covers damage to other people's cars, your own car, any liability, as well as losses incurred by fire and theft.
Contract
A legally enforceable agreement made between two parties.
Cover Note
A temporary certificate stating that an insurance policy is in force.
Effective Date
The date on which the insurance under a policy begins.
Excess
Applies to an insurance claim. It is the first part of any claim that must be paid for by the customer.
Fully Comprehensive
See Comprehensive Cover
Insured
The person or organisation covered by a policy.
Insured Car
The insured car is as specified by its registration mark on your current certificate of motor insurance.
Insurer
The provider of the insurance contract and who is bound by the contract to pay for losses and benefits.
