The Florida Insurance Glossary, designed to help Florida residents better understand the terms used.
Named Insured: The person or entity specifically named as insured in the insurance contract i.e. policyholder.
Named Non-Owner Policy: An auto insurance policy for someone who does not own a motor vehicle but drives
someone else’s car or is mandated to secure a policy to maintain a driver’s license.
Named Perils: A specific set of perils or hazards listed in the contract which triggers insurance coverage.
National Association of Insurance Commissioners (NAIC): “The NAIC is the organization of state insurance
regulators for all 50 of the United States, Washington DC, and five US territories.” www.naic.org
Negligence: An action or failure to act as a reasonably prudent person would.
Net Loss: The amount of a claim payout less any amount received through salvage, subrogation or reinsurance.
Net Premium: The dollar amount collected for an insurance policy less expense such as commission or reinsurance.
No-Fault Auto Insurance: Auto insurance which pays for medical and funeral expenses due to bodily injury after
an accident regardless of fault.
Non-admitted Insurers: Insurance companies that are licensed in states other than where they transact
insurance.
Non-Renewal: A refusal by an insurance company to continue a policy after it expires.
Non-Renewal Notices: A car insurance company is required to provide 45 day advanced notice to the policyholder
of an intent to non-renew a Florida car insurance contract.
Non-Owned Auto: A coverage option to insure vehicles on a business auto policy which are not owned by the
business e.g. employee vehicles used in the course of employment.
Non-Resident Agent: An insurance agent licensed in a state other than where they reside.
Notice of Loss: Document notifying the insurance company that a loss has occurred.
Named Insured: The person or entity specifically named as insured in the insurance contract i.e. policyholder.
Named Non-Owner Policy: An auto insurance policy for someone who does not own a motor vehicle but drives
someone else’s car or is mandated to secure a policy to maintain a driver’s license.
Named Perils: A specific set of perils or hazards listed in the contract which triggers insurance coverage.
National Association of Insurance Commissioners (NAIC): “The NAIC is the organization of state insurance
regulators for all 50 of the United States, Washington DC, and five US territories.” www.naic.org
Negligence: An action or failure to act as a reasonably prudent person would.
Net Loss: The amount of a claim payout less any amount received through salvage, subrogation or reinsurance.
Net Premium: The dollar amount collected for an insurance policy less expense such as commission or reinsurance.
No-Fault Auto Insurance: Auto insurance which pays for medical and funeral expenses due to bodily injury after
an accident regardless of fault.
Non-admitted Insurers: Insurance companies that are licensed in states other than where they transact
insurance.
Non-Renewal: A refusal by an insurance company to continue a policy after it expires.
Non-Renewal Notices: A car insurance company is required to provide 45 day advanced notice to the policyholder
of an intent to non-renew a Florida car insurance contract.
Non-Owned Auto: A coverage option to insure vehicles on a business auto policy which are not owned by the
business e.g. employee vehicles used in the course of employment.
Non-Resident Agent: An insurance agent licensed in a state other than where they reside.
Notice of Loss: Document notifying the insurance company that a loss has occurred.
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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 "N" Florida Auto Plus Insurance Agency - "Lower your Florida car insurance cost for life" |