Glossary

Insurance terms, in plain language.

This is the one place on the site where insurance vocabulary is allowed to show up by name.

Last reviewed: June 2026. Updated regularly as new terms are added.

Commercial

Co-Insurance

Co-insurance is a policy provision that requires you to insure a property to a minimum percentage of its actual value, typica…

Commercial

What is hired and non-owned auto coverage?Hired and non-owned auto coverage is an extension of commercial auto insurance that…

Commercial

What is surplus lines insurance?Surplus lines insurance is coverage sold by carriers that are not licensed (admitted) in your…