The Florida Insurance Glossary, designed to help Florida residents better understand the terms used.
Incurred Losses: The dollar amount paid out in claims by an insurance company for a given time period.
Indemnity: A term used to describe compensation to a claimant from an insurance company after a loss.
Independent Adjuster: A person who facilitates the claims process that is an independent contractor of the
insurance company.
Independent Agent: An agent that represents a variety of companies is an independent agent. Florida Auto Plus
Insurance is Florida's top choice for all your Florida Auto Insurance needs.
Independent Insurance Agents of America (IIAA): One of several professional associations for independent
agents.
Indirect Damage: A loss associated with a covered peril that was not caused directly from the peril e.g. water
damage from extinguishing a fire.
Inspection Report: Vehicle inspection reports are mandated in Florida for the following counties; Duval, Palm
Beach, Broward, Dade, Orange, Hillsborough, and Pinellas when physical damage coverage is requested.
Insurable Interest: A person or entity which stands to suffer a financial loss due to a covered peril is said to have
an insurable interest.
Insurable Risk: A risk which is acceptable for insurance coverage (fire, theft vandalism, etc…).
Insurance: In the broadest sense this is a term which denotes a transfer of risk from an individual or entity to an
insurance company.
Insurance Contract: The legal and binding agreement between the policyholder and the insurance company.
Insurance Institute for Highway Safety: “The Insurance Institute for Highway Safety is an independent, nonprofit,
scientific, and educational organization dedicated to reducing the losses — deaths, injuries, and property damage —
from crashes on the nation's highways.” www.iihs.org
Insurance Policy: Document which contains the insurance contract between the policyholder and insurance
company.
Insurance Score: Algorithm which draws upon information form credit bureaus to assist in determining rates for
policyholders.
Insured: The person or entity which subscribes to a contract with an insurance company, i.e. policyholder.
Insurer: The company which subscribes to an insurance contract with an individual or entity.
Incurred Losses: The dollar amount paid out in claims by an insurance company for a given time period.
Indemnity: A term used to describe compensation to a claimant from an insurance company after a loss.
Independent Adjuster: A person who facilitates the claims process that is an independent contractor of the
insurance company.
Independent Agent: An agent that represents a variety of companies is an independent agent. Florida Auto Plus
Insurance is Florida's top choice for all your Florida Auto Insurance needs.
Independent Insurance Agents of America (IIAA): One of several professional associations for independent
agents.
Indirect Damage: A loss associated with a covered peril that was not caused directly from the peril e.g. water
damage from extinguishing a fire.
Inspection Report: Vehicle inspection reports are mandated in Florida for the following counties; Duval, Palm
Beach, Broward, Dade, Orange, Hillsborough, and Pinellas when physical damage coverage is requested.
Insurable Interest: A person or entity which stands to suffer a financial loss due to a covered peril is said to have
an insurable interest.
Insurable Risk: A risk which is acceptable for insurance coverage (fire, theft vandalism, etc…).
Insurance: In the broadest sense this is a term which denotes a transfer of risk from an individual or entity to an
insurance company.
Insurance Contract: The legal and binding agreement between the policyholder and the insurance company.
Insurance Institute for Highway Safety: “The Insurance Institute for Highway Safety is an independent, nonprofit,
scientific, and educational organization dedicated to reducing the losses — deaths, injuries, and property damage —
from crashes on the nation's highways.” www.iihs.org
Insurance Policy: Document which contains the insurance contract between the policyholder and insurance
company.
Insurance Score: Algorithm which draws upon information form credit bureaus to assist in determining rates for
policyholders.
Insured: The person or entity which subscribes to a contract with an insurance company, i.e. policyholder.
Insurer: The company which subscribes to an insurance contract with an individual or entity.
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Florida Auto Plus Insurance, Simply the best.
Local map and directions: 9742 Banyan street Miami, Florida 33157
Call us now. You'll be glad you did.
1-877-WIZ-AUTO.com
Local map and directions: 9742 Banyan street Miami, Florida 33157
Call us now. You'll be glad you did.
1-877-WIZ-AUTO.com
Clifford J. Schimek - Lower your car insurance cost for life.
Clients enjoy a level of personal attention and first class service that most other agencies simply cannot match.
I want to be your personal local Florida auto insurance agent and earn your trust and respect.
Searching for Auto Insurance Florida, look no further.
Clients enjoy a level of personal attention and first class service that most other agencies simply cannot match.
I want to be your personal local Florida auto insurance agent and earn your trust and respect.
Searching for Auto Insurance Florida, look no further.
| Florida Insurance Glossary Terms "I" Florida Auto Plus Insurance Agency - "Lower your Florida car insurance cost for life" |