Underinsured motorist’s coverage Underinsured motorist’s coverage is a coverage that can be added to the personal auto policy. Coverage pays damages for a bodily injury to an insured caused by the ownership or operation of an
Uninsured motorists coverage Uninsured motorists coverage is that part of the personal auto policy designed to insure against bodily injury caused by an uninsured
Named insured Named insured is the person or persons named in the declarations section of the policy, as opposed to someone who may have an
Fully insured Fully insured is a status of a covered person under the Old-Age, Survivors, and Disability Insurance (OASDI) program. To be fully insured for retirement benefits,
First named insured First named insured is the first name that appears on the declarations page of the policy as an insured who has certain additional rights and
Currently insured Currently insured is a status of a covered person under the Old-Age, Survivors, and Disability Insurance (OASDI) program who has at least
Additional insured Additional insured is a person or party who is added to the named insured’s policy by an
Uninsured motorist protection Uninsured motorist protection is coverage that pays the insured for bodily injuries caused by at-fault but uninsured or underinsured drivers and by hit and run drivers.
Fully insured plan Fully insured plan is a benefit plan where the employer contracts with another organization to assume financial responsibility for the enrollees’ medical claims and for all incurred administrative costs.