Glossary
a | b | c | d | e | f | g | h | i | j | k | l | m | n | o | p | q | r | s | t | u | v | w | xyz
Term - The cover period off a policy for example with most car insurance policies this would likely be for the period of a year.
Third party - Any person who:
Becomes involved in a claim against an insurer and their client or
Who is claimed against by an insurer and their client.
If you crash your car into someone you are the first party, your insurer the second party, and the person that you collide with is the third party. If they crash into you, the same applies.
Third party, fire and theft - Like third party coverage, but with extra cover for fire or theft as well.
Total loss - A decision made by an insurance company that means that they feel tat it would be uneconomical to repair a car as it would cost more than the cars worth, or percentage thereof.
