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| Glossary |
Common Insurance Terms
Common Boating Terms
Common Insurance Terms:
LIABILITY- protects the insured against bodily injury or property damage claims made by others.
UNINSURED/UNDERINSURED MOTORIST- protects the insured if involved in an accident that is caused by an uninsured or underinsured motorist where bodily injury is sustained by the insured.
PERSONAL INJURY PROTECTION- covers the insured for medical expenses or lost wages resulting from a collision, regardless of fault. This coverage varies by State.
MEDICAL PAYMENTS- pays for medical expenses incurred by an insured resulting from an accident.
COMPREHENSIVE- pays for damage caused by perils such as fire, theft, earthquake, windstorm, vandalism, or animals.
COLLISION- pays for damage resulting from a collision with another object.
ACV- Actual Cash Value is the market value at the time of loss.
DIMINISHING DEDUCTIBLE- comprehensive and collision deductible are reduced by 25% every claim free year. If a claim occurs, the deductible will return to its original amount. *If you have been a RV owner and claim free for the past 4 consecutive years, your deductibles will begin at ZERO.
REPLACEMENT COST- will replace the insured vehicle with a new unit during the first 5 years model years if a total loss occurs.
PURCHASE PRICE- pays the purchase price for the insured vehicle if a total loss occurs. This coverage can continue as long as you own the insured vehicle.
VACATION LIABILITY- provides liability coverage while the insured vehicle is parked and being used as a temporary residence.
TOWING REIMBURSEMENT- provides towing and labor expense reimbursement.
EMERGENCY EXPENSE- provides expense money if the insured vehicle is damaged or destroyed by a covered loss.
PERSONAL EFFECTS- provides replacement cost coverage for loss of or damage to the insured’s personal belongings such as clothing, dishes, computers, cameras, and other items which are not attached to the insured vehicle.
FULL TIMER COVERAGE- provides personal liability and additional coverage limits for the insured using the vehilce as their primary residence.
SCHEDULED VALUABLE PERSONAL PROPERTY- provides coverage for personal contents such as jewelry, furs, guns, etc. Also available is coverage for personal contents that are stored in a secured storage facility.
MEXICO COVERAGE- provides comprehensive and collision coverage for the insured vehicle while in Mexico. Insured is required to purchase a separate Mexico liability policy.
ADJACENT STRUCTURE COVERAGE- provides a specified amount of coverage for a storage shed or other unattached structure located on a lot owned or rented by the insured.
GOLF CART COVERAGE- provides physical damage and liability for golf carts, mopeds or small boats.
WINDSHIELD/GLASS WINDOW- pays for damage to windshield or glass window. $100 deductible applies.
• All coverages are based on individual state laws, coverage availability and specific limits.
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Common Boating Terms:
AFT: Toward the back of the boat.
BEARING AWAY: Turning away from the wind.
BOOM: A pole running at a right angle from the mast.
CLEARN ASTERN and CLEAR AHEAD: One boat is clear astern of another when her hull and equipment in normal position are behind a line abeam from the aft most point of the other boat's hull and equipment in normal position. The other boat is clear ahead.
CUNNINGHAM (also called a Downhaul): Adjusting the tension of a sail's luff.
HEAD UP: Sailing closer to the wind.
IRONS: Boat is pointing into the wind, sail is flapping and probably also going backwards.
KICKE
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