The Insurance Glossary

The Insurance Glossary

Here are some terms that you’ve probably wondered what they mean. That’s why we created The Insurance Glossary – written in plain English. Now, you can easily understand the most common terms and concepts in the world of insurance.

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  • AccidentAccidents, often characterized by their unexpected nature and lack of intent, are incidents that result from a confluence of factors, frequently preventable. They encompass a range of events from vehicular collisions, often linked to preventable behaviors like distracted driving, to(...)
  • Broad Form InsuranceWashington Broad Form Insurance is a car insurance policy that covers a single driver to drive most any car and is an inexpensive way to satisfy the Washington state liability insurance requirements to drive legally.
  • CarThe car, or automobile, has undergone an extraordinary evolution since the late 19th century, transitioning from rudimentary carriages powered by steam engines to the sophisticated, computerized vehicles of today.
  • Collision CoverageCollision coverage is an important type of car insurance that pays to repair or replace your vehicle if it’s damaged in an accident with another car or object. Here’s what you need to know about collision coverage.
  • Comprehensive CoverageComprehensive car insurance is an optional type of car insurance that helps to protect your vehicle from damage or loss caused by events that are not collisions with other vehicles or objects.
  • Damage WaiverDamage waiver (DW) or, as it is often referred to, collision damage waiver (CDW) or loss damage waiver (LDW) is the optional coverage that a rental car company offers to cover your financial responsibility for any physical or structural damage to the rental vehicle during your rental period.
  • DamagesThe doctrine of damages in common law serves as a cornerstone of legal redress, offering a structured approach to compensating individuals who have suffered loss or injury attributable to the actions or negligence of another party.
  • DeductibleAn insurance deductible is the specific amount you'll pay out of pocket before your insurance provider begins to cover any expenses. It acts as your financial participation in the loss or claim, which is a standard feature across various insurance types, such as health, auto, and homeowners(...)
  • Extended WarrantyAn extended warranty is designed to protect against having to pay for costly repairs after the original manufacturer's warranty expires. When considering the purchase of an extended warranty, consumers must weigh the warranty cost against the possibility of product failure.
  • Hit and RunA hit and run or hit-and-run offense occurs when an individual causes or contributes to a traffic collision and leaves the scene without offering assistance or providing their contact information.
  • Home InsuranceHome insurance, a critical component of financial planning, provides homeowners with robust protection against unforeseen events that may threaten their property and financial stability.
  • Insurable InterestThe concept of insurable interest is pivotal in the adjudication and validation of insurance policies. It necessitates a clear, legitimate risk of financial loss or potential for significant distress to the policyholder in the event of a covered incident. This criterion guarantees that(...)
  • InsuranceInsurance is a contractual agreement that offers financial safeguard against unpredictable events. This arrangement, binding between an individual and an insurance company, delineates the specifics of coverage and conditions. The essence of insurance is to facilitate financial recovery after(...)
  • Insurance CompanyAn insurance carrier pools money together from thousands of people paying premiums and because only some of these people will have car crashes or home damage, the total premiums paid usually cover all these expenses. This spreads out the risk, rather than a few unfortunate people having to(...)
  • Insurance PolicyAn insurance policy constitutes a formal agreement between an insurance company and the policyholder. This pact ensures that the insurer will provide financial compensation to the insured in the event of specific, predefined contingencies in exchange for periodic payments known as premiums.
  • Kennewick, WashingtonKennewick Broad Form, SR22 & Car Insurance. The insurance you want at a price you can afford.
  • Liability InsuranceLiability insurance is a fundamental aspect of risk management, designed to mitigate potential financial losses arising from legal claims. This type of insurance is pivotal in safeguarding individuals and businesses from the economic impacts of litigation, by providing coverage for a variety(...)
  • Mid-Columbia Insurance 
  • Multiple-Vehicle CollisionA multiple-vehicle collision, also called a pile-up or multi-car collision, is a term that encapsulates vehicle accidents involving three or more vehicles. Multiple-vehicle collisions present a significant challenge to road safety and traffic management.
  • PedestrianThe word 'pedestrian' comes from the Latin word 'pedester'. It doesn't just mean a person who is walking. It's a term that includes all the different parts of walking that have to do with our culture, history, and the things we build for walking, like sidewalks
  • Personal Injury Protection- PIP is an extension of car insurance available in some U.S. states. - It covers medical expenses and, in some cases, lost wages and other damages. - PIP is sometimes referred to as no-fault coverage. - It is designed to be paid without regard to fault or legal liability. - PIP claims can be(...)
  • Reckless DrivingReckless driving is a major moving violation related to aggressive driving.
  • Renters InsuranceRenters insurance provides a critical layer of protection against unforeseen events that can affect one's personal property, liability, and ultimately financial stability.
  • Richland, WashingtonThe city of Richland has a strong economy. It is known for its work in the field of nuclear energy. This work includes research, development, and production, all happening here in Richland. This has made the city an important place for science and its economy is strong because of it.
  • Roadside AssistanceRoadside assistance has significantly shaped the landscape of vehicular travel, offering crucial support to motorists in times of need. This service, deeply rooted in the history of the automobile, has evolved from simple acts of courtesy among early motorists to a structured network of(...)
  • SR-22An SR-22 is a certificate provided by insurance companies to the state, affirming that the policyholder has the requisite level of auto liability coverage on their auto insurance policy. Often mandated by state Departments of Motor Vehicles, it is essential for those with a history of serious(...)
  • Texting While DrivingTexting while driving involves engaging in text messaging on a mobile device while operating a vehicle. Few issues have garnered as much attention as the risks associated with texting while driving because it has been shown to significantly increase the risk of traffic accidents.
  • Traffic CollisionA traffic collision, also known as a motor vehicle collision or car crash when cars are involved in the collision, occurs when a vehicle collides with another vehicle, pedestrian, animal, road debris, or other moving or stationary obstruction, such as a tree, pole or building. Traffic(...)
  • U-TurnThe execution of a U-turn, while seemingly a simple maneuver, is a multifaceted traffic movement that is governed by an array of regulations and influenced by various types of road configurations and control devices.
  • UnderwritingUnderwriting services play an integral role in the financial sector, as institutions undertake the systematic evaluation and acceptance of risk. This process is critical in various financial transactions, from issuing insurance policies to underpinning the success of securities in capital markets.
  • Uninsured Motorist- Individuals without liability coverage for the vehicle they are operating - Hit and run drivers who flee the scene without providing sufficient information for identification - States where coverage for uninsured property damage may be unavailable - Stolen vehicles, which are considered(...)
  • Vehicle InsuranceGet Car Insurance Quote Today! You need to drive in order to get to work, to run errands, and to do all that other stuff in life. Don't drive without insurance. Call Today. (509) 783-5600 Request a Free Quote and see how inexpensive auto insurance can be for you.
  • Vehicular HomicideVehicular homicide, often termed vehicular manslaughter, constitutes a criminal charge where an individual causes someone's death through illegal or careless driving of a vehicle.
  • Washington State Patrol- Washington State Patrol covers 71,362 square miles (184,830km). - The estimated population of Washington in 2016 was 7,288,000. - The agency is responsible for the protection of the Governor of Washington and the grounds of the Washington State Capitol. - They provides security aboard the(...)
  • Wrong-Way Driving- Driver inattention or impairment - Insufficient or confusing road markings or signage - Unfamiliarity with driving