Glossary
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Under-insurance - As it sounds this is the opposite of when a policyholder the situation when a customer takes out too little insurance, paying smaller premiums than they should. Obviously the insurance company would be well within its rights to only pay out exactly what was covered under the policy which could mean that a similar car would not be able to be bought.
Underwriter - A person who looks at and calculates an insurance risk.
Underwriting - This is when an insurer takes account of known personal facts such as your age, sex and health to assess the chance or risk of you making a claim on your policy.
Uninsured loss - This is anything that, in the case of an accident, you are not insured for.
