Insurance words, without the jargon.
The terms you'll see on a quote or a declarations page, each in one or two sentences.
- Premium
- What you pay for the policy, monthly or yearly. Think: your subscription fee.
- Deductible
- The part of a claim you pay before the insurer pays the rest. $500 deductible on a $3,000 repair: you pay $500.
- Liability
- Covers injuries or damage you cause to other people and their property. It never pays for your own car.
- 100 / 300 / 100
- Auto liability limits in thousands: per injured person, per accident, and property damage.
- Collision
- Repairs your car after you hit something, or something hits you, regardless of fault.
- Comprehensive
- Damage that isn't a crash: theft, hail, fire, flood, a deer on the highway.
- Replacement cost
- Pays what it costs to buy the item new today. Usually worth the small extra premium.
- Actual cash value
- Pays what the item was worth when it was lost, after depreciation. A 5-year-old TV pays out little.
- Declarations page
- The one-page summary at the front of your policy: who, what, limits, deductibles and price.
- Endorsement
- An add-on that changes a policy, like adding earthquake coverage or a new driver.
- Umbrella
- Extra liability that kicks in after your auto or home limits run out, usually in $1M steps.
- Claim
- Your request for the insurer to pay for a covered loss. Your Tidewell agent can file it with you.
No terms match that search. Try a shorter word, or ask us below.
Things people ask us every week.
Will filing a claim raise my price?
Sometimes. At-fault accidents usually raise auto rates for three to five years. Weather claims and not-at-fault accidents often don't. Call us before filing a small claim and we'll help you decide whether it's worth it.
Why use an independent agent instead of buying direct?
A direct insurer can only quote its own policies. We compare 22 carriers, so if your price jumps at renewal we can move you without you starting over.
How much life insurance do I need?
A common starting point is 10 to 12 times your yearly income, plus any mortgage balance. We'll walk through your real numbers on a short call.
Does renters insurance cover my roommate?
No, unless they're named on your policy. Each roommate should usually have their own.
Can I cancel any time?
Yes. Most policies refund the unused part of your premium. There's no fee from us.