Business Insurance Glossary

Commercial Insurance terms and definitions. Learn more about business insurance terminology and get the right coverage for your business.

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a-c

Actual Cash Value
Admitted vs. Non-Admitted Insurance Carriers
Aggregate Limit
Appraisal
Arbitration
Business Owner Policy (BOP)
Business Personal Property
Care
Claimant Professional Liability Insurance
Claims-Made Insurance Policy
Coinsurance
Commercial Auto Insurance
Comprehensive General Liability Insurance
Continuity Date
Custody
Cyber Extortion

d-f

Deductible
Employment Practices Liability Insurance (EPLI)
Equipment Breakdown Coverage
Exclusive Remedy
Extended Reporting Period
Extra Expense Coverage

g-i

General Liability Class Codes
Grace Period
Hired and Non-Owned Auto Insurance
Hold Harmless Agreement
Indemnity
Insurance Adjuster
Insurance Agent or Broker
Insurance Claim
Insurance Quote
Invasion of Privacy

j-l

Legal Liability
Lessor’s Risk Only (LRO) Coverage
Liability Insurance
Liquor Liability Insurance
Loss Runs

m-o

Minimum Earned Premium
Named Perils
Nose Coverage
Open Perils

p-r

Personal and Advertising Injury
Premium
Prior Acts Coverage
Products and Completed Operations Coverage
Qualifying Event
Quote
Replacement Value
Retroactive Date
Rider
Risk Management

s-u

Sole Proprietorship
Stop Gap Coverage
Subrogation
Tail Coverage
Tort
Triple Net Lease of Control
Umbrella Insurance
Underwriting

v-z

Workers' Compensation State Fund
Workers’ Compensation Class Codes
Workers’ Compensation Insurance

If you’re a small business owner looking to understand more about insurance, then you’re in the right place! This glossary includes insurance terminology and definitions that will help you discover the meaning behind commonly used insurance terms and help you protect your business. Learn the insurance jargon, speak the lingo, use this dictionary, it's for you. Happy learning!