Each industry has its distinct terminology – and insurance is no different. Below are some common insurance terms and definitions that are used in the insurance business. Please note some of the coverages/terms listed on this page pertain only to West Bend. To learn more, talk to a West Bend appointed independent insurance agent.
This used to mean a policy that covered all types of physical damage, but since "all" could be misunderstood, insurers now say they cover "risks of physical loss" instead of using this term.
Also known as Gap Insurance. If you have collision and comprehensive coverage, this option helps cover the difference between what you owe on a car loan or lease and what the car is actually worth if it's totaled.
If someone gets hurt, sick, or dies because of an accident you’re responsible for, this coverage helps pay for medical bills, lost wages, and other costs.
Helps pay for damage to your car from things like theft, vandalism, fire, storms, or falling objects. It’s optional but required if you’re leasing or financing a car.
Pays for repairs or replacement if your car is damaged in an accident with another vehicle or object, no matter who’s at fault. It’s optional but often required for financed or leased cars.
Covers repairs or replacement if your car is damaged in a crash, stolen, vandalized, or hit by something like a falling tree.
If you're at fault in an accident, this helps pay for injuries or property damage to others so you don’t have to pay out of pocket.
If your home is damaged or destroyed, this coverage ensures it's fully rebuilt—even if the cost is more than what your policy originally covered. You may need an appraisal to qualify.
Protects you financially if you're responsible for injuring someone or damaging their property in a car accident. It includes bodily injury and property damage coverage.
If your homeowners' association has costs that aren’t covered by its insurance, this coverage helps pay your share of those expenses.
Covers medical or funeral costs for you and your passengers after a car accident, no matter who was at fault. It can also cover injuries if you or family members are hit as pedestrians.
Covers legal costs if you’re accused of things like false arrest, invasion of privacy, or defamation (such as libel or slander).
If you're legally responsible for someone else's injury or property damage (like if a guest slips on your property), this coverage helps pay for medical bills, legal fees, and settlements.
West Bend’s homeowners policy offers help with vet bills if your dog or cat gets hurt in an accident.
Pays to repair or rebuild your home and other structures on your property if they’re damaged. Your personal belongings are also covered, even if they’re stolen or damaged away from home.
Covers damage or destruction of someone else’s property that you're responsible for.
Covers the full cost of a rental car while you're on vacation, with no deductible, as long as it’s within your policy’s coverage area.
If you buy this coverage, you’ll get 24/7 help with things like towing, flat tires, dead batteries, or lockouts anywhere in the U.S. or Canada.
Lets you add extra coverage for valuables like jewelry, antiques, or collectibles, making sure they’re insured for their full appraised value.
Covers your belongings for almost any type of damage, except what’s specifically excluded in your policy. This offers more protection than standard coverage.
Covers the cost of a rental car while yours is being repaired after an accident. You can increase the coverage amount if needed.
If you’re in an accident with a driver who doesn’t have insurance (or a hit-and-run driver), this coverage helps pay for your medical bills and other damages.
If you’re hit by a driver whose insurance isn’t enough to cover your medical expenses or damages, this coverage helps pay the rest, up to your policy limit.
Pays to repair or replace underground utility lines on your property, like water pipes, gas lines, or electrical wiring, if they’re damaged.
Covers damage from water backing up through drains, sewers, or a sump pump failure. It helps pay for repairs, cleanup, and mold removal.
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