Common Insurance Terms
Common Boating Terms
Commercial Insurance Terms

Common Insurance Terms:
LIABILITY- protects the insured against bodily injury or property damage claims made by others.

UNINSURED/UNDERINSURED MOTORIST- protects the insured if involved in an accident that is caused by an uninsured or underinsured motorist where bodily injury is sustained by the insured.

PERSONAL INJURY PROTECTION- covers the insured for medical expenses or lost wages resulting from a collision, regardless of fault. This coverage varies by State.

MEDICAL PAYMENTS- pays for medical expenses incurred by an insured resulting from an accident.

COMPREHENSIVE- pays for damage caused by perils such as fire, theft, earthquake, windstorm, vandalism, or animals.

COLLISION- pays for damage resulting from a collision with another object.

ACV- Actual Cash Value is the market value at the time of loss.

DIMINISHING DEDUCTIBLE- comprehensive and collision deductible are reduced by 25% every claim free year. If a claim occurs, the deductible will return to its original amount. *If you have been a RV owner and claim free for the past 4 consecutive years, your deductibles will begin at ZERO. This coverage varies by company.

TOTAL LOSS REPLACEMENT COST- will replace the insured vehicle with a new unit during the first 5 years model years if a total loss occurs. This coverage varies by company.

PURCHASE PRICE- pays the purchase price for the insured vehicle if a total loss occurs. This coverage can continue as long as you own the insured vehicle.

VACATION LIABILITY- provides liability coverage while the insured vehicle is parked and being used as a temporary residence.

TOWING REIMBURSEMENT- provides towing and labor expense reimbursement.

EMERGENCY EXPENSE- provides expense money if the insured vehicle is damaged or destroyed by a covered loss.

PERSONAL EFFECTS- provides replacement cost coverage for loss of or damage to the insured’s personal belongings such as clothing, dishes, computers, cameras, and other items which are not attached to the insured vehicle.

FULL TIMER COVERAGE- provides personal liability and additional coverage limits for the insured using the vehilce as their primary residence.

SCHEDULED VALUABLE PERSONAL PROPERTY- provides coverage for personal contents such as jewelry, furs, guns, etc. Also available is coverage for personal contents that are stored in a secured storage facility.

MEXICO COVERAGE- provides comprehensive and collision coverage for the insured vehicle while in Mexico. Insured is required to purchase a separate Mexico liability policy.

ADJACENT STRUCTURE COVERAGE- provides a specified amount of coverage for a storage shed or other unattached structure located on a lot owned or rented by the insured.

GOLF CART COVERAGE- provides physical damage and liability for golf carts, mopeds or small boats.

WINDSHIELD/GLASS COVERAGE- pays for damage to windshield or glass window. Deductible can apply, coverage varies by state.

AWNING REPLACEMENT- pays for the replacement of an awning or its equipment without the allowance for depreciation.

• All coverages are based on individual state laws, coverage availability and specific limits.
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Common Boating Terms:
AFT: Toward the back of the boat.

BEARING AWAY: Turning away from the wind.

BOOM: A pole running at a right angle from the mast.

CLEARN ASTERN and CLEAR AHEAD: One boat is clear astern of another when her hull and equipment in normal position are behind a line abeam from the aft most point of the other boat’s hull and equipment in normal position. The other boat is clear ahead.

CUNNINGHAM (also called a Downhaul): Adjusting the tension of a sail’s luff.

HEAD UP: Sailing closer to the wind.

IRONS: Boat is pointing into the wind, sail is flapping and probably also going backwards.

KICKER(also called a Vang): A device used to keep the boom from rising.

LAY LINE: The course on which your boat, sailing close – hauled on starboard tack, can just make a windward mark which is to be rounded to port is the starboard – tack lay line for that mark, and the most windward line on which you would approach the mark on port tack is the port – tack lay line.

LEEWARD: The direction the wind is going downwind.

LUFFING: Pointing the boat into the wind – sail flapping.

MAINSHEET: Line that controls the position of the mainsail.

MARK(buoy): An object the sailing instructions require a boat to pass on a specified side.

MAST: A pole usually going straight up from the deck (height can be tuned for different body weights), used to attach sail and boom.

OBSTRUCTION: Is an object that a boat could not pass without changing course substantially to avoid it. e.g. a mark, a rescue boat, the shore, perceived underwater dangers or shallows.

OUTHAUL: An adjuster that tensions the sail’s foot.

PORT: The left side of the boat when you are looking forward.

PORT TACK: Wind across the port side.

REACHING: Sailing with the sail eased.

REEFING: Reducing the amount of sail area.

RIG: The arrangement of a boat’s mast, sails and spars.

RUDDER: Underwater part of a boat used for steering.

RUNNING: Sailing before the wind with the sail out.

SAIL TRIM: The position of the sails relative to the wind and desired point of sail. Sails that are not trimmed properly may not operate efficiently. Visible signs of trim are luffing, excessive heeling, and the flow of air past telltales.

SAND BAR: An area in shallow water where wave or current action has created a small, long hill of sand. Since they are created by water movement, they can move and may not be shown on a chart.

SEXTANT: A navigational instrument used to determine the vertical position of an object such as the sun, moon or stars. Used with celestial navigation.

SPINNAKER: A very large lightweight sail used when running or on a broad reach.

SPINNAKER POLE: Sometimes called a spinnaker boom. A pole used to extend the foot of the spinnaker beyond the edge of the boat, and to secure the corner of the sail.

SPREADER: Small spars extending toward the sides from one or more places along the mast. The shrouds cross the end of the spreaders, enabling the shrouds to better support the mast.

SPRING TIDE: The tide with the most variation in water level, occurring during new moons and full moons. This is the time of the highest high tide and the lowest low tide. The opposite of a neap tide.

STARBOARD: The right side of the boat when you are looking forward.

STARBOARD TACK: Wind across the starboard (right) side.

STERN: The back end of a boat.

TACKING: Changing direction by turning into the wind.

WINDWARD: The direction the wind is coming from, upwind.
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Commercial Insurance Terms:

COMMERCIAL GENERAL LIABILITY (CGL): A standard insurance policy issued to business organizations to protect them against liability claims for bodily injury and property damage arising out of premises, operations, products, and completed operations; and advertising and personal injury liability.

COMMERCIAL PROPERTY: An insurance policy for businesses and other organizations that insures against damage to their buildings and contents due to a covered cause of loss, such as a fire. The policy may also cover loss of income or increase in expenses that result from the property damage.

COMMERCIAL INLAND MARINE: A group of property insurance coverages designed to insure exposures that cannot be conveniently or reasonably confined to a fixed location or insured at a standard rate under a standard form. Includes coverage for property in transit over land, certain moveable property, property under construction, instrumentalities of transportation and communication (such as bridges, roads, piers, and television and radio towers), legal liability coverage for bailees, and computerized equipment. Many inland marine coverage forms provide coverage without regard to the location of the covered property; these are sometimes called “floater” policies. Inland marine coverage forms are generally broader than property coverage forms due to the relative freedom from rate and form regulation of inland marine insurance as compared with property insurance.

COMMERCIAL AUTO: Insurance that protects the insured against financial loss because of legal liability for automobile-related injuries to others or damage to their property by an auto.

COMMERCIAL UMBRELLA: A policy designed to provide protection against catastrophic losses and it generally is written over various primary liability policies.

WORKERS COMPENSATION: The system by which no-fault statutory benefits prescribed in state law are provided by an employer to an employee (or the employee’s family) due to a job-related injury (including death) resulting from an accident or occupational disease.

EMPLOYMENT PRACTICES LIABILITY: Protects companies and individuals against loss (damages and defense costs) arising out of employment practice disputes.

DIRECTORS AND OFFICERS LIABILITY: Protects directors and officers of public, private, and not-for-profit corporations against loss (damages and defense costs) arising out of their status or conduct as directors or officers.

PROFESSIONAL LIABILITY / ERRORS & OMISSIONS: Protects companies and individuals against loss (damages and defense costs) resulting from acts, errors or omissions in their performance of professional duties.

INTERNET LIABILITY: Modern businesses rely on electronic data, computers and networks to support critical operations and better serve customers. Do your clients use e-mail; store data, including private information on computers; generate revenue online; or use their network to control production, manufacturing, inventory or a supply chain? If so, then your clients are at risk if they don’t have information risk coverage.

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