Insurance Glossary - CT Insurance Store

4133 Whitney Ave., Suite 2A
Hamden, CT 06518
PHONE: (203) 230-8810
FAX: (203) 230-8806

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Insurance Glossary

See our insurance glossary below for answers to many questions regarding coverage in Connecticut. This glossary does not amend, replace or supersede any policy definitions or descriptions provided by any insurance policy.
A B C D E F G H I L M N O P R S T U W
ACCELERATED DEATH BENEFITS - Allows the policy holder to receive cash advances against a life insurance policy’s death benefit in if the policy holder is diagnosed with a terminal illness.
 
ACCIDENTAL DEATH BENEFIT - Provides an increased death benefit in if the insured’s death is an accident.
 
ACTUAL CASH VALUE (ACV) - The value of the property lost or damaged at the time of the loss.
 
ADDITIONAL EQUIPMENT COVERAGE - Provides coverage for accessories and enhancements not originally installed by the manufacturer.
 
ADDITIONAL INSURED/INTEREST - Extends coverage to a person or organization.
 
ADDITIONS AND ALTERATIONS COVERAGE - Provides coverage for any additions, alterations and improvements made to a unit in the event of a covered loss.
 
ADJUSTER - A person who estimates the cost of a repair.
 
ADMITTED COMPANY - An insurance company authorized to do business in the state.
 
ALIEN INSURANCE COMPANY - An insurance company incorporated under the laws of a foreign country.
 
AMENDMENT - A change to a policy contract.
 
ANTI-LOCK BRAKING SYSTEM (ABS) - Computer system that assists with a vehicle’s normal braking system.
 
ANTI-THEFT DEVICE - Devices that deter a thief or alert a third party to assist in a vehicles recovery.
 
APPRAISAL - A document that that determines the value of property by an impartial expert.
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4133 Whitney Ave., Suite 2A, Hamden, CT 06518
PHONE: (203) 230-8810
FAX: (203) 230-8806
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