The Florida Insurance Glossary, designed to help Florida residents better understand the terms used.
Beneficiary: A person or legal entity entitled to receive benefits from an insurance policy. This term is most
frequently used to identify the person to whom a death benefit is paid to from life insurance. Florida minimum
mandatory coverage includes a $5,000 death benefit.
Binder: Document indicating insurance coverage in effect prior to issuance of an insurance policy. A binder is
sufficient proof of a Florida auto insurance policy in most circumstances. If a Florida FR-44 for DUI drivers or a
Florida SR-22 requirement becomes necessary, the DMV requires proof to be provided by the insurance company in
an electronic format.
Binding authority: The authority given to an insurance agent from an insurance company to effect insurance prior
to the issuance of an insurance policy. An application for insurance and selection of payment method must be
secured before a Florida quote for car insurance becomes an effective policy. Florida Auto Plus Insurance has
binding authority in all Florida cities and towns.
Bodily Injury: A persons physical injuries is referred to by this term. Insurance coverage for physical injuries is a
basic Florida car insurance coverage option, although it is not mandatory.
Bodily Injury Liability: Insurance coverage that protects the policyholder in the event bodily injury causes harm to
another. It’s critical to secure the right amount of insurance coverage to properly protect against law suits should
you injure someone in an at-fault accident.
Book of Business: This term refers to the accumulated policies in an insurance agency or company.
Long term low rates will enable a successful insurance agency or company to accumulate a large number of clients
over time. Car insurance in Miami Florida and Jacksonville auto insurance account for the largest percentage of our
book of business.
Broker: A person or entity which facilitates the transaction of insurance between the policyholder and insurance
company. Florida Auto Plus Insurance is classified as a resident licensed insurance agency in Florida.
Business Auto Policy: insurance contract designed to protect the interests of a business owner associated with
the risks of owning and using motor vehicles.
Buy-Back Deductible: Additional insurance coverage which reduces or eliminates the deductible from a primary
insurance policy. This is usually a high commission product for the insurance agent and does not represent a good
value for the consumer. Always ask lots of questions about your Florida quote to make sure you know exactly what
you’re getting.
Beneficiary: A person or legal entity entitled to receive benefits from an insurance policy. This term is most
frequently used to identify the person to whom a death benefit is paid to from life insurance. Florida minimum
mandatory coverage includes a $5,000 death benefit.
Binder: Document indicating insurance coverage in effect prior to issuance of an insurance policy. A binder is
sufficient proof of a Florida auto insurance policy in most circumstances. If a Florida FR-44 for DUI drivers or a
Florida SR-22 requirement becomes necessary, the DMV requires proof to be provided by the insurance company in
an electronic format.
Binding authority: The authority given to an insurance agent from an insurance company to effect insurance prior
to the issuance of an insurance policy. An application for insurance and selection of payment method must be
secured before a Florida quote for car insurance becomes an effective policy. Florida Auto Plus Insurance has
binding authority in all Florida cities and towns.
Bodily Injury: A persons physical injuries is referred to by this term. Insurance coverage for physical injuries is a
basic Florida car insurance coverage option, although it is not mandatory.
Bodily Injury Liability: Insurance coverage that protects the policyholder in the event bodily injury causes harm to
another. It’s critical to secure the right amount of insurance coverage to properly protect against law suits should
you injure someone in an at-fault accident.
Book of Business: This term refers to the accumulated policies in an insurance agency or company.
Long term low rates will enable a successful insurance agency or company to accumulate a large number of clients
over time. Car insurance in Miami Florida and Jacksonville auto insurance account for the largest percentage of our
book of business.
Broker: A person or entity which facilitates the transaction of insurance between the policyholder and insurance
company. Florida Auto Plus Insurance is classified as a resident licensed insurance agency in Florida.
Business Auto Policy: insurance contract designed to protect the interests of a business owner associated with
the risks of owning and using motor vehicles.
Buy-Back Deductible: Additional insurance coverage which reduces or eliminates the deductible from a primary
insurance policy. This is usually a high commission product for the insurance agent and does not represent a good
value for the consumer. Always ask lots of questions about your Florida quote to make sure you know exactly what
you’re getting.
| Florida Insurance Glossary Terms "B" Florida Auto Plus Insurance Agency - "Lower your Florida car insurance cost for life" |
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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.