Vehicle insurance 12

Question 1

1. POLICYHOLDER

Answer 1

The person or entity listed on the policy declarations page.

Question 2

2. PRE-ACCIDENT CONDITION

Answer 2

The state of the vehicle before the accident, including damage not related to the accident, mileage,options, and other factors.

Question 3

3. PREMIUM

Answer 3

The price of the insurance policy the the insured pays in exchange for the insurance coverage.

Question 4

4. PRIMARY INSURANCE

Answer 4

Insurance that must be maintained as a condition of the GEICO Personal Umbrella Policy (GPUP). Primary insurance acts as the first layer of coverage on common types of losses. This usually includes auto, motorcycle and homeowner insurance, but may also include boat insurance, commercial liability or some other policy.

Question 5

5. PROOF OF LOSS

Answer 5

A statement m made regarding the extent both claim. It may be requested in accordance with the conditions of the policy.

Question 6

6. PROXIMATE CAUSE

Answer 6

An act or omission initiating an unbroken sequence of events resulting in injury to a person or damage to property.

Question 7

7. QUOTE

Answer 7

A statement of the premium that will be charged for insurance coverages based on specific information provided by the person requesting the quote including drivers, vehicles, and driving record.

Question 8

8. RATE

Answer 8

Often used as a synonym for PREMIUM but actually refers to the base rating units that are used to determine the final premium.