Claim=a formal request asking for money from an insurance company. Ex: when you get in a car accident,you call your insurance company and file a claim to get money to fix your car.
Coverage=the amount and type of insurance that the insured bought
Deductible=the amount you pay out of your pocket before the insurance company pays
Insurability=the conditions under which an insurance company will offer insurance to a prospective buyer
Insurance=an arrangement or agreement that protects a person from future financial loss.
Insured=the person who owns the insurance pollicy
insurer=the insurance company i.e. prudential, GEICO etc
liability=an obligation, responsibility, debt
personal property= the property you own such as a car,house, dog,etc
premium= how much you pay per month or year for the insurance policy
product options=the different insurance policies available to choose from
real property= land such as your house, and yard
risk=the probability that an insured event will occur ex; car accident, flood etc
underinsured= not enough insurance to meet your needs
uninsured= someone with no insurance
hope this helps. Please best this answer
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