Deductible

The amount paid by the policyholder to the insurance company for coverage, typically on a monthly, quarterly, or annual basis.

The scope of protection provided under an insurance policy, including the types of losses and risks that are covered.

A formal request by a policyholder to an insurance company for coverage or compensation for a covered loss or policy event.

An unexpected event or circumstance without deliberate intent that results in injury, damage, or loss.

Specific conditions, circumstances, or types of losses that are not covered by an insurance policy.

A written amendment or addition to an insurance policy that modifies the coverage, terms, or conditions.

A specified period after a premium payment is due during which the policy remains in force without penalty.