insurance terms

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Across
  1. 2. Vendor: Insurance Company’s recommended repair shop. To become a 'preferred vendor' with an insurance company, the shop agrees to work off a discounted price list.
  2. 7. premium: the amount of money paid for an insurance policy
  3. 9. anything that exists objectively and distinctly, whether nonliving or living; thing or being
  4. 10. Responsibility; you are liable if you cause a car accident.
  5. 12. an act or instance of breaking or violating, usually a rule or law; violation or breach
  6. 13. Termination: Some policies are automatically cancelled at renewal if payment isn’t made
  7. 14. the portion of a claim that the insured pays; the insurance company pays the dollar amount that exceeds the deductible.
  8. 17. to pay back for (expenses or losses incurred)
  9. 18. interest: an accumulation of interest on money awarded by the court had the injured party received the money on the first day of their injury rather than having to wait on legal proceedings
  10. 21. the right or authority to interpret and administer the law
  11. 22. liability: indirect legal responsibility for the acts of another
Down
  1. 1. E: provides coverage if a claim is made or a suit is brought against an insured because of bodily injury or property damage arising from a covered occurrence or loss.
  2. 2. interest: an accumulation of interest that accrues on a judgment in a suit defended by the insurance company AFTER the judgment has been entered and BEFORE the insurance company offers to pay
  3. 3. to put up with; stand
  4. 4. to become liable for or bring upon oneself (usually some unwanted or harmful consequence)
  5. 5. the condition of or potential for being held legally or financially responsible
  6. 6. F: deals with the specific procedures (“the Duties after an Accident or Loss) the client must follow in order to have a claim covered by the insurer.
  7. 8. the party that receives a trust’s assets when the trustor dies; one who receives or is formally designated to receive money or property, as from a will or insurance policy
  8. 11. Page: typically the first page (or pages) of a policy that specifies the named insured, address, policy period, location of premises, policy limits, and other key information that varies from insured to insured. The Declarations page is a separate document that becomes part of the policy contract.
  9. 13. to grow or accumulate over time, especially as something of benefit
  10. 15. a form added to an existing insurance contract that changes the terms, coverage, or scope of the policy
  11. 16. making people whole again with compensation for damage caused; protection for damages, loss, or liability; indemnified: compensated for harm or loss
  12. 19. the amount of risk or liability that is covered for an individual or entity by way of insurance services
  13. 20. vehicle weight rating (GVWR): the maximum weight a vehicle is designed to carry according to the vehicle manufacturer. This includes the total weight of the vehicle, plus passengers, vehicle fluids, accessories, and cargo.
  14. 23. Symbol: an assigned number based on the suggested retail price-new, and claims data, to help insurance carriers calculate premium for any given vehicle