Glossary of insurance terms
Provides compensation for injury or damage that results from owning or operating a vehicle.
A change to your policy which either increases or reduces the amount of coverage. At Allstate, examples of auto endorsements include loss of use and transfer of protection to rental vehicles.
An estimated cost of the premium that will be charged for insurance coverage based on the information provided by the person who requests the quote. An estimate is subject to change upon verification of the information prior to acceptance of the premium/contract.
The person who drives the vehicle the most often. If you obtain a quote for more than one driver and more than one vehicle, each vehicle must have one primary driver.
Devices designed to reduce the chance of a vehicle being stolen or assist in its recovery. Some examples of anti-theft devices that may qualify for a discount:
Engine disabling device - a professionally installed device that prevents the engine from starting without the use of a special key or a hidden button/switch.
Marking – vehicle is engraved in approximately 50 places for easier identification.
Tracking device - allows the vehicle to be followed by law enforcement if it is stolen.
“Take Two” Advantage® (also referred to as multi-line) A discount offered for insuring your home and car with the same company. Certain conditions apply.
Liability
Liability insurance protects you if you are in an accident and you’re held legally liable for injury or death to other people. It also covers damage to their vehicle or property. In Quebec, this coverage is available to drivers who are deemed not at fault for the accident.
This endorsement removes coverage for glass damage from the policy, unless it is specifically caused by a hazard outlined by Specified Perils.
- Fire and lightning
- Theft or attempted theft
- Windstorm, earthquake or hail
- Windstorm, earthquake or hail
- Falling or forced landing of aircraft or parts of the aircraft
- Check Allstate’s policy wording for full details.
This endorsement reimburses you for alternative transportation (e.g. rental) if your vehicle is being repaired as a result of damage or theft. If you don’t rent a replacement car, it will pay for taxis and public transportation costs
This endorsement covers you if you damage a car you don’t own such as a rental vehicle.
* Also referred to as Transfer Protection to Rental Vehicle.
No depreciation will be applied if your new car (less than 36-months-old) is damaged in an accident. If you experience loss or damage (including a total loss) of your vehicle, you will receive a loss settlement up to the original purchase price.
Provides additional benefits to the insured and certain dependent relatives who have a claim against another motorist for injuries or death, if the other motorist has insufficient insurance to pay the claim. The maximum payable under this coverage is the difference between the liability insurance limit of the insured’s policy and that carried by the motorist at fault. This endorsement is available in Alberta, Ontario, New Brunswick and Nova Scotia
General Terms
A policyholder’s request for payment from his/her insurance company for financial losses that are covered under their insurance policy.
Personal Property
The personal property limit is the amount of insurance coverage provided to replace the contents of your home (e.g. furniture, clothing, electronic equipment).
Group Discount
Preferred group rates on insurance offered to a group of persons who belong to a company or association. Allstate’s discount is The Good Hands Group Insurance® program.
A discount offered for insuring your home and car with the same company. Certain conditions apply.
