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For specimen your indemnity firm might pay for your car to be fixed even though an accident wasnt your faultand then pursue reimbursement from the person who was at fault Term The period of time your indemnity policy is in effect usually six or 12 months Umbrella A policy that provides additional liability coverage It kicks in after your other indemnity policies have reached their coverage limits
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Join the Insurance DictionaryOur insurance terms glossary is divided alphabetically by insurance terms in a quick reference guide to assist understanding the language commonly used by insurance companies Policy documents contain a number of insurance terms because they typically define the limitations of risk and liability on the insured and any exclusions of coverage
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Glossary of Common Insurance Terms Nationwide
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Use this glossary of insurance definitions to better understand what each term visual or data signals and is not designed solely for the reproduction of
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