Call Us 941-925-2529 ☰ ˟
Logo
Call Us 941-925-2529 to get your personalized insurance quote
  • Home
  • Our Agency
    • AboutImage of right arrow
      • Our Staff
      • Our Locations
    • Personal ProductsImage of right arrow
      • Auto and Homeowners Insurance
      • Automobile
      • Homeowners
      • Other Personal Insurance in Sarasota, Bradenton & Venice, FL
      • Life
      • Recreational Vehicle
      • Additional Insurance Services in Sarasota, Bradenton & Venice, FL
    • Commercial Products
    • Get a Quote
    • Our Carriers
  • Products
    • Auto and Homeowners Insurance
    • AutomobileImage of right arrow
      • Auto Liability Coverage - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Comprehensive Auto Coverage - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Auto Collision Coverage - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Uninsured/Underinsured Motorist Coverage - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Diminishing/Vanishing Deductible - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Accident Forgiveness - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Minor Violation Forgiveness - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Roadside Assistance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Specialty Auto Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • 24-Hour Customer Service - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Towing Services & Coverage - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Rental Reimbursement - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Personal Injury Protection (PIP) - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Mexican Auto Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Medical Payments Coverage - Sarasota FL & Venice FL - Bob Lindsay Agency
    • HomeownersImage of right arrow
      • Property Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Homeowners Liability - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Renters Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Condo Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Mobile Home Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Scheduled Property Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Landlords Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • In-Home Business Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Identity Theft Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Personal Umbrella Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
    • Other Personal InsuranceImage of right arrow
      • Data Backup Services - Sarasota FL & Venice FL - Bob Lindsay Agency
    • LifeImage of right arrow
      • Individual Life Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Group Life Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Long-Term Care Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Mortgage Protection Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Disability Income Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Second-to-Die Policy - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Key Person (Key Men) Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
    • Recreational VehicleImage of right arrow
      • Boat/Watercraft Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Motorcycle Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Motorhome Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • ATV Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
    • Additional Insurance ServicesImage of right arrow
      • Special Event & Wedding Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Other Services - Sarasota FL & Venice FL - Bob Lindsay Agency
    • Coverage for Specific IndustriesImage of right arrow
      • Accounting Firm Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Alarm Contractors Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Insurance for Arborists - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Construction Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Consulting Firm Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Specialty Trade Contractors Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Craft Brewery Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Educational Facility Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Financial Institution Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Healthcare Facility Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Law Firm Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Healthcare Practice Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Life Science Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Limousine Services Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Maintenance Contractors Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Manufacturing Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Media & Advertising Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Orthotics & Prosthetics Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Pool & Spa Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Printers & Publishers Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Real Estate Businesses Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Retail Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Special Event & Wedding Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Security Guards Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Self-Storage Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Technology Services Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Tow Trucks Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Water Well Drillers Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
    • Coverage for Your BusinessImage of right arrow
      • Surety & Fidelity Bonds - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Business Owners Policy (BOP) - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Commercial Auto Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Commercial General Liability - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Commercial Property Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Commercial Umbrella Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Crime Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Fidelity Bonds - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Inland Marine Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Marine Insurance - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Professional Liability Coverage - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Surety Bonds - Sarasota FL & Venice FL - Bob Lindsay Agency
      • Workers Compensation - Sarasota FL & Venice FL - Bob Lindsay Agency
  • Get a Quote
  • Contact Us
  • Location & Hours
Home > Glossary > T

Insurance Glossary

Insurance terms and definitions from Bob Lindsay Insurance Agency dba Acentria Insurance.


Coverages and benefits listed below may not be available in your state. If available, some optional coverages and benefits might be offered at an additional charge. Contact Bob Lindsay Insurance Agency dba Acentria Insurance today to learn more.
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
TERM CERTAIN ANNUITY
An form of annuity that pays out over a fixed period rather than when the annuitant dies.

TERM INSURANCE
A form of life insurance that covers the insured person for a certain period of time, the “term” that is specified in the policy. It pays a benefit to a designated beneficiary only when the insured dies within that specified period which can be one, five, 10 or even 20 years. Term life policies are renewable but premiums increase with age.

TERRITORIAL RATING
A method of classifying risks by geographic location to set a fair price for coverage. The location of the insured may have a considerable impact on the cost of losses. The chance of an accident or theft is much higher in an urban area than in a rural one, for example.

TERRORISM COVERAGE
Included as a part of the package in standard commercial insurance policies before September 11, 2001 virtually free of charge. Since September 11, terrorism coverage prices have increased substantially to reflect the current risk.

THIRD-PARTY ADMINISTRATOR
Outside group that performs clerical functions for an insurance company.

THIRD-PARTY COVERAGE
Liability coverage purchased by the policyholder as a protection against possible lawsuits filed by a third party. The insured and the insurer are the first and second parties to the insurance contract.

TIME DEPOSIT
Funds that are held in a savings account for a predetermined period of time at a set interest rate. Banks can refuse to allow withdrawals from these accounts until the period has expired or assess a penalty for early withdrawals.

TITLE INSURANCE
Insurance that indemnifies the owner of real estate in the event that his or her clear ownership of property is challenged by the discovery of faults in the title.

TORT
A legal term denoting a wrongful act resulting in injury or damage on which a civil court action, or legal proceeding, may be based.

TORT LAW
The body of law governing negligence, intentional interference, and other wrongful acts for which civil action can be brought, except for breach of contract, which is covered by contract law.

TORT REFORM
Refers to legislation designed to reduce liability costs through limits on various kinds of damages and through modification of liability rules.

TOTAL LOSS
The condition of an automobile or other property when damage is so extensive that repair costs would exceed the value of the vehicle or property.

TRANSPARENCY
A term used to explain the way information on financial matters, such as financial reports and actions of companies or markets, are communicated so that they are easily understood and frank.

TRAVEL INSURANCE
Insurance to cover problems associated with traveling, generally including trip cancellation due to illness, lost luggage and other incidents.

TREASURY SECURITIES
Interest-bearing obligations of the U.S. government issued by the Treasury as a means of borrowing money to meet government expenditures not covered by tax revenues. Marketable Treasury securities fall into three categories — bills, notes and bonds. Marketable Treasury obligations are currently issued in book entry form only; that is, the purchaser receives a statement, rather than an engraved certificate.

TREATY REINSURANCE
A standing agreement between insurers and reinsurers. Under a treaty each party automatically accepts specific percentages of the insurer’s business.


NOTICE: These glossary definitions provide a brief description of the terms and phrases used within the insurance industry. These definitions are not applicable in all states or for all insurance and financial products. This is not an insurance contract. Other terms, conditions and exclusions apply. Please read your official policy for full details about coverages. These definitions do not alter or modify the terms of any insurance contract. If there is any conflict between these definitions and the provisions of the applicable insurance policy, the terms of the policy control. Additionally, this informational resource is not intended to fully set out your rights and obligations or the rights and obligations of the insurance company, agent or agency. If you have questions about your insurance, you should contact your insurance agent, the insurance company, or the language of the insurance policy.

Insurance Websites Designed and Hosted by Insurance Website Builder
Glossary content provided by Insurance Information Institute and ITC

Contact us
941-925-2529 7142 Beneva Rd | Saraota, FL 34238
Quick Links
Home Our Products Customer Service Payment Options Report a Claim About Us Our Carriers Partners Blog Contact Us
Location
7142 Beneva Rd
Saraota, FL 34238
Phone: 941-925-2529
Fax: 941-925-2930



Facebook Icon LinkedIn Icon Google Icon


© Copyright. All rights reserved.
Powered by Insurance Website Builder