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Rawlins Insurance Insurance Jargon Explained - Rawlins Insurance Brokers

Call us: 01782 753000

Email: enquiries@rawlinsinsurance.co.uk

Insurance Jargon Explained

Additional Premium – Due to a policy adjustment, you may have increased the risk than proposed at the inception of the policy. This has lead to a further premium payable by the insured

Adjuster – Someone who investigates claims on behalf of the insurer: claims or loss adjuster

All risks – Covering property owners policyholders against any loss or damage from any unexpected causes except those that are specifically excluded

Cancellation – An early termination of a policy. Some insurers have a notice period in which a policy may be cancelled

Declarations – This usually found at the beginning of your insurance policy wording. It’s a summary of the most importation information in regards to the policy taken out

Gross premium – This describes the value of gross written premiums before deduction of brokerage and discounts

Inception Date – The start date or effective date of when the policy starts

Underwriting – The process that concludes if the cover will be offered, including the policy provision and the price

If you have any further questions or struggling to understand your policy wording, get in touch with our friendly team today. Call us on 01782 753000 or email us on enquiries@rawlinsinsurance.co.uk.