What is the Definition of Comprehensive Coverage?

What is the Definition of Comprehensive  Coverage?

Portion of an auto insurance policy that covers damage to the policyholder’s car not involving a collision with another car (including damage from fire, explosions, earthquakes, floods and riots), and theft.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Insurance?

What is the Definition of Comprehensive  Coverage?

What is the Definition of Comprehensive  Coverage?

Check out other definition of insurance terms below:


What is the Meaning of COINSURANCE In Insurance Terms?

In property insurance, requires the policyholder to carry insurance equal to a specified percentage of the value of property to receive full payment on a loss. For health insurance, it is a percentage of each claim above the deductible paid by the policyholder. For a 20 percent health insurance coinsurance clause, the policyholder pays for the deductible plus 20 percent of his covered losses. After paying 80 percent of losses up to a specified ceiling, the insurer starts paying 100 percent of losses.


What is the Meaning of COLLATERAL In Insurance Terms?

Property that is offered to secure a loan or other credit and that becomes subject to seizure on default. Also called security.


What is the Meaning of COLLATERAL ASSIGNMENT In Insurance Terms?

A temporary transfer of some of the ownership rights in a particular property, such as a life insurance policy or an annuity contract, as collateral for a loan. The transfer is made on the  condition that upon payment of the debt for which the contract is collateral, all transferred rights shall revert back to the original owner. Contrast with Absolute assignment.


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