The Florida Insurance Glossary, designed to help Florida residents better understand the terms used.
Rate: The dollar cost for insurance i.e. premium.
Rate filing: Documentation filed with the state requesting approval to change the existing rates from an insurance
company.
Rating Agencies: Independent companies that determine an insurance company’s ability to meet its financial
obligations.
Rebate: A partial return of commission to a policyholder as an inducement to purchase.
Reinstatement: The commencement of an insurance policy after a cancellation or lapse in coverage.
Reinsurance: This is insurance that insurance companies purchase to minimize their exposure.
Renewal: An uninterrupted continuation of an insurance policy after its expiration.
Rental Reimbursement: Optional coverage on an automobile insurance policy that reimburses the policyholder for
a rental car while their car is unusable after a covered loss and before the claim is settled.
Renewal Date: The date which a policy continues as a renewal after expiration.
Replacement Parts: Parts produce by a company other than the original manufacturer.
Resident Adjuster: An adjuster who is licensed and resides in the state where he is adjusting.
Residual Markets: Insurance markets established outside the normal insurance marketing channels to cover
unusually large or poor risks.
Retention: The amount of exposure retained by an insurance company as opposed to the amount of exposure
which is reinsured. Also, the ratio or number of policies which do not cancel and non-renew.
Rider: Another term for endorsement which changes or adds to the basic insurance contract.
Risk: Risk is uncertainty regarding loss. It is also used to refer to a piece of business or a submission to an insurer.
Rate: The dollar cost for insurance i.e. premium.
Rate filing: Documentation filed with the state requesting approval to change the existing rates from an insurance
company.
Rating Agencies: Independent companies that determine an insurance company’s ability to meet its financial
obligations.
Rebate: A partial return of commission to a policyholder as an inducement to purchase.
Reinstatement: The commencement of an insurance policy after a cancellation or lapse in coverage.
Reinsurance: This is insurance that insurance companies purchase to minimize their exposure.
Renewal: An uninterrupted continuation of an insurance policy after its expiration.
Rental Reimbursement: Optional coverage on an automobile insurance policy that reimburses the policyholder for
a rental car while their car is unusable after a covered loss and before the claim is settled.
Renewal Date: The date which a policy continues as a renewal after expiration.
Replacement Parts: Parts produce by a company other than the original manufacturer.
Resident Adjuster: An adjuster who is licensed and resides in the state where he is adjusting.
Residual Markets: Insurance markets established outside the normal insurance marketing channels to cover
unusually large or poor risks.
Retention: The amount of exposure retained by an insurance company as opposed to the amount of exposure
which is reinsured. Also, the ratio or number of policies which do not cancel and non-renew.
Rider: Another term for endorsement which changes or adds to the basic insurance contract.
Risk: Risk is uncertainty regarding loss. It is also used to refer to a piece of business or a submission to an insurer.
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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 "R" Florida Auto Plus Insurance Agency - "Lower your Florida car insurance cost for life" |