Call Us 802-476-5050 ☰ ˟
Logo
  • HOME
  • Our Agency
    • AboutImage of right arrow
      • Our Staff
      • Our Location
    • Personal ProductsImage of right arrow
      • Auto InsuranceImage of right arrow
        • Uninsured and Underinsured Motorist
        • Medical Payments Coverage
        • Minor Violation Forgiveness
        • Classic Car
        • Personal Injury Protection
        • Rental Reimbursement
      • Home InsuranceImage of right arrow
        • Homeowners Liability
        • Mortgage Protection
        • Scheduled Property Insurance
        • Landlord Insurance
      • Life InsuranceImage of right arrow
        • Individual Life
        • Group Life
        • Long Term Care
        • Disability
        • Second-To-Die Policy
      • Powersports VehicleImage of right arrow
        • ATV Insurance
        • Boat Insurance
        • Motorcycle Insurance
        • Snowmobile Insurance
      • Recreational Vehicle Insurance
      • Other Personal Insurance
    • Commercial ProductsImage of right arrow
      • Coverage for Specific IndustriesImage of right arrow
        • Accounting Firm Insurance
        • Bar Insurance
        • Box Truck Insurance
        • Builders Risk Insurance
        • Car Dealership Insurance
        • Cargo Insurance and Freight Insurance
        • Catering Insurance
        • Construction Insurance
        • Consulting Firm Insurance
        • Contractors Insurance
        • Specialty Trade Contractors Insurance
        • Craft Brewery Insurance
        • Dental Practice Insurance
        • Dump Truck Insurance
        • Educational Facility Insurance
        • Food Truck Insurance
        • Fleet Insurance
        • Handyman Insurance
        • Garage Insurance
        • Law Firm Insurance
        • Life Science Insurance
        • Limousine Services Insurance
        • Liquor Liability Insurance
        • Livestock Insurance
        • Maintenance Contractors Insurance
        • Manufacturing Insurance
        • Media & Advertising Insurance
        • Medical Malpractice Insurance
        • Minibus Insurance
        • Non Profit Insurance
        • Nursing Home Insurance
        • Nursing Insurance
        • Orthotics & Prosthetics Insurance
        • Pharmacist Insurance
        • Pool & Spa Insurance
        • Printers & Publishers Insurance
        • Real Estate Businesses Insurance
        • Retail Insurance
        • Scrap Metal Insurance
        • Self-Storage Insurance
        • Septic Contractors Insurance
        • Snow Plow Insurance
        • Specialized Truck Equipment Insurance
        • Technology Services Insurance
        • Tractor Insurance
        • Tow Trucks Insurance
        • Water Well Drillers Insurance
        • Veterinary Insurance
      • Coverage for Your BusinessImage of right arrow
        • Bonds
        • Business Catastrophe Insurance
        • Business Owners Policy (BOP)
        • Commercial Auto Insurance
        • Commercial General Liability
        • Commercial Property Insurance
        • Commercial Real Estate Insurance
        • Commercial Umbrella Insurance
        • Crime Insurance
        • Equipment Insurance
        • Errors and Omissions Insurance
        • Fidelity Bonds
        • Loss Control Insurance
        • Inland Marine Insurance
        • Marine Insurance
        • Mechanical Breakdown Insurance
        • Office Insurance
        • Product Liability Insurance
        • Professional Liability
        • Shipping Insurance
        • Small Business Insurance
        • Small Business Liability Insurance
        • Storage Insurance
        • Surety Bonds
        • Technology Insurance
        • Trailer Insurance
        • Transportation Insurance
        • Trucking Insurance and Semi Truck Insurance
        • Workers Compensation
        • Van Insurance
      • Coverage for Your EmployeesImage of right arrow
        • Small Business Retirement Plans
        • Employer-Sponsored Retirement
        • Group Benefits
        • Group Disability Insurance
        • Voluntary Benefits
        • Retiree Health Coverage
        • Group Health Insurance
        • Disability Insurance
        • Individual Life Insurance
      • Farm InsuranceImage of right arrow
        • Crop Insurance
        • Farm Owners Insurance
        • Farm Livestock Insurance
        • Equine Insurance
        • Farm Equipment Insurance
        • Farm Dwelling Insurance
        • Farm Structures Insurance
        • Farm Auto Insurance
        • Farm Umbrella Insurance
        • Farm Liability Insurance
    • Get A Quote
    • Our Providers
    • Contact UsImage of right arrow
      • Jaimes L. Fewer Agency, Inc.
      • Fewer Agency - Mary White
      • Fewer Agency - Roy Folsom
  • Products
    • Auto InsuranceImage of right arrow
      • Uninsured and Underinsured Motorist
      • Medical Payments Coverage
      • Minor Violation Forgiveness
      • Classic Car
      • Personal Injury Protection
      • Recreational Vehicle
      • Rental Reimbursement
    • Home InsuranceImage of right arrow
      • Homeowners Liability
      • Mortgage Protection
      • Scheduled Property Insurance
      • Landlord Insurance
    • Life InsuranceImage of right arrow
      • Individual Life
      • Group Life
      • Long Term Care
      • Disability
      • Second-To-Die Policy
    • Powersports VehicleImage of right arrow
      • ATV Insurance
      • Boat Insurance
      • Motorcycle Insurance
      • Snowmobile Insurance
    • Other Personal Insurance
    • Coverage for Specific IndustriesImage of right arrow
      • Accounting Firm Insurance
      • Bar Insurance
      • Box Truck Insurance
      • Builders Risk Insurance
      • Car Dealership Insurance
      • Cargo Insurance and Freight Insurance
      • Catering Insurance
      • Construction Insurance
      • Consulting Firm Insurance
      • Contractors Insurance
      • Specialty Trade Contractors Insurance
      • Craft Brewery Insurance
      • Dental Practice Insurance
      • Dump Truck Insurance
      • Educational Facility Insurance
      • Food Truck Insurance
      • Fleet Insurance
      • Handyman Insurance
      • Garage Insurance
      • Law Firm Insurance
      • Life Science Insurance
      • Limousine Services Insurance
      • Liquor Liability Insurance
      • Livestock Insurance
      • Maintenance Contractors Insurance
      • Manufacturing Insurance
      • Media & Advertising Insurance
      • Medical Malpractice Insurance
      • Minibus Insurance
      • Non Profit Insurance
      • Nursing Home Insurance
      • Nursing Insurance
      • Orthotics & Prosthetics Insurance
      • Pharmacist Insurance
      • Pool & Spa Insurance
      • Printers & Publishers Insurance
      • Real Estate Businesses Insurance
      • Retail Insurance
      • Scrap Metal Insurance
      • Self-Storage Insurance
      • Septic Contractors Insurance
      • Snow Plow Insurance
      • Specialized Truck Equipment Insurance
      • Technology Services Insurance
      • Tractor Insurance
      • Tow Trucks Insurance
      • Water Well Drillers Insurance
      • Veterinary Insurance
    • Coverage for Your BusinessImage of right arrow
      • Bonds
      • Business Catastrophe Insurance
      • Business Owners Policy (BOP)
      • Commercial Auto Insurance
      • Commercial General Liability
      • Commercial Property Insurance
      • Commercial Real Estate Insurance
      • Commercial Umbrella Insurance
      • Crime Insurance
      • Equipment Insurance
      • Errors and Omissions Insurance
      • Fidelity Bonds
      • Loss Control Insurance
      • Inland Marine Insurance
      • Marine Insurance
      • Mechanical Breakdown Insurance
      • Office Insurance
      • Product Liability Insurance
      • Professional Liability
      • Shipping Insurance
      • Small Business Insurance
      • Small Business Liability Insurance
      • Storage Insurance
      • Surety Bonds
      • Technology Insurance
      • Trailer Insurance
      • Transportation Insurance
      • Trucking Insurance and Semi Truck Insurance
      • Workers Compensation
      • Van Insurance
    • Coverage for Your EmployeesImage of right arrow
      • Small Business Retirement Plans
      • Employer-Sponsored Retirement
      • Group Benefits
      • Group Disability Insurance
      • Voluntary Benefits
      • Retiree Health Coverage
      • Group Health Insurance
      • Disability Insurance
      • Individual Life Insurance
    • Farm InsuranceImage of right arrow
      • Crop Insurance
      • Farm Owners Insurance
      • Farm Livestock Insurance
      • Equine Insurance
      • Farm Equipment Insurance
      • Farm Dwelling Insurance
      • Farm Structures Insurance
      • Farm Auto Insurance
      • Farm Umbrella Insurance
      • Farm Liability Insurance
  • Get A Quote
    • Auto
    • HomeImage of right arrow
      • Primary Residence Insurance Request
      • Rental Properties Insurance Request
      • Seasonal/Secondary Homes Insurance Request
      • Vacant Structures Insurance Request
    • Business & CommercialImage of right arrow
      • Business Owners (BOP) Quote Form
      • General Liability Quote Form
      • Professional Services Insurance Request
      • Restaurant Insurance Quote
      • Retail Insurance Quote
      • Service Industries Insurance Request
      • Wholesale Insurance Request
    • Contractors
    • Workers Compensation
    • Professional Liability Insurance
    • FarmImage of right arrow
      • Crops Insurance Quote
      • Dairy Insurance Quote
      • Hemp/Cannabis/CBD Insurance Quote
      • Livestock Insurance Quote
      • Maple Insurance Quote
    • Life & Retirement
    • Recreational VehicleImage of right arrow
      • Boat Insurance Quote
      • Golf Carts Insurance Quote
      • Jet Ski Insurance Quote
      • Motorcycle Insurance Quote
      • Snowmobiles Insurance Quote
      • RV Insurance Quote
  • Resources
    • Refer a friend
    • Our Companies
    • Insurance Glossary
  • About Us
    • About
    • Our Location
    • Employee Directory
    • Testimonials
    • Privacy Policy
  • Contact
Icon Auto Icon Home
Icon Contractors
Icon Business Owners (BOP)
Icon Farm Icon Recreational Vehicle
Home > Glossary > U

Insurance Glossary

Insurance terms and definitions from The Fewer Agency.


Coverages and benefits listed below may not be available in your state. If available, some optional coverages and benefits might be offered at an additional charge. Contact The Fewer Agency today to learn more.
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
UMBRELLA POLICY
Coverage for losses above the limit of an underlying policy or policies such as homeowners and auto insurance. While it applies to losses over the dollar amount in the underlying policies, terms of coverage are sometimes broader than those of underlying policies.

UNBUNDLED CONTRACTS
A form of annuity contract that gives purchasers the freedom to choose among certain optional features in their contract.

UNDERINSURANCE
The result of the policyholder’s failure to buy sufficient insurance. An underinsured policyholder may only receive part of the cost of replacing or repairing damaged items covered in the policy.

UNDERWRITING
Examining, accepting, or rejecting insurance risks and classifying the ones that are accepted, in order to charge appropriate premiums for them.

UNDERWRITING INCOME
The insurer’s profit on the insurance sale after all expenses and losses have been paid. When premiums aren’t sufficient to cover claims and expenses, the result is an underwriting loss. Underwriting losses are typically offset by investment income.

UNEARNED PREMIUM
The portion of a premium already received by the insurer under which protection has not yet been provided. The entire premium is not earned until the policy period expires, even though premiums are typically paid in advance.

UNINSURABLE RISK
Risks for which it is difficult for someone to get insurance.

UNINSURED MOTORISTS COVERAGE
Portion of an auto insurance policy that protects a policyholder from uninsured and hit-and-run drivers.


NOTICE: These glossary definitions provide a brief description of the terms and phrases used within the insurance industry. These definitions are not applicable in all states or for all insurance and financial products. This is not an insurance contract. Other terms, conditions and exclusions apply. Please read your official policy for full details about coverages. These definitions do not alter or modify the terms of any insurance contract. If there is any conflict between these definitions and the provisions of the applicable insurance policy, the terms of the policy control. Additionally, this informational resource is not intended to fully set out your rights and obligations or the rights and obligations of the insurance company, agent or agency. If you have questions about your insurance, you should contact your insurance agent, the insurance company, or the language of the insurance policy.

Insurance Websites Designed and Hosted by Insurance Website Builder
Glossary content provided by Insurance Information Institute and ITC

Insure your needs today!
Social Social Social
Quick Links
Home
Get A Quote
Payment / Claims
About Us
Our Carriers
Blog
Contact Us
Location 3 Maple Ave
Barre, VT 05641

Phone: 802-476-5050
Toll-Free: 800-476-5070
Fax: 802-476-5070
Powered by Insurance Website Builder