| Adjuster | A person who evaluates damage and recommends how much the insurance company should pay. |
| Agent | A person appointed by the insurance company to represent, sell and service insurance policies. |
| Cancellation | Termination of a policy before its normal expiration date. |
| Claim | A request for payment on an insured loss. |
| Declarations Page ("Dec Page") | The page that shows your premium and coverages. Instead of sending you a new policy each year, the insurance company generally sends only a new dec page. |
| Endorsement | Amendment to a policy used to add, change or delete coverage. |
| Fraud | Filing a false claim in order to collect money not entitled to the claimant or providing false information in an application for insurance. |
| Insured | The person and/or property covered by an insurance policy. |
| Insurer | The company that provides insurance. |
| Lapse | The termination of an insurance policy as a result of failure to pay the premium. |
| Loss | The event or occurrence of damage or injuries. |
| Negligence | The failure to exercise the care that an ordinary prudent person would exercise: either doing that which a prudent person would not do, or failing to do that which a prudent person would do. |
| Premium | The amount you pay for insurance. |
| Settlement | The amount you are paid by the insurance company as payment for your loss. |
| Subrogation | When an insurer has acquired the right to recover money from a third party. |
| Underwriting | The insurance company's process for determining whom it will insure. |