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Your Companies Vehicles and Drivers are Protected with Commercial Insurance
Also Receive No Obligation Quotes from Vendors
Also Receive No Obligation Quotes from up to 5 Vendors

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By: Arlette Measures
Glossary of Commercial Auto Insurance Terms Continued


This is the portion of a claim that you pay. Having a higher deductible amount will lower your insurance premiums.

Defensive Driver Discount

If available in your state, this is a discount offered to drivers, typically over 50, who have taken a defensive driving course.


Practically unavoidable, depreciation is a decrease in a vehicle’s value due to wear and tear, age, mileage and decline in price, and typically is not insurable. Most auto policies pay for the 'actual cash value' which deducts for depreciation.


An endorsement modifies the policy by amending specific coverage. It can add coverage, modify it and even reduce or remove coverage.


This is a restriction in your business auto insurance reducing and/or removing coverage for certain potential events, persons, property or locations.

Expiration Date

This date indicates when your insurance coverage ends. The renewal policy (or new policy) typically starts on this date.

Field Adjuster

An insurance adjuster is one who works outside the office and conducts accident scene investigations, damage inspections and face-to-face meetings with policyholders.

Financial Responsibility Law

This law requires owners and drivers of vehicles to have enough money on hand to compensate people who they injure. Liability insurance is the most common way to satisfy the financial responsibility requirement.


This is anything that increases the chances of a collision, or another form of damage to occur.


This provides financial compensation for a loss with the intent to restore a person or entity to the financial position enjoyed before the loss.


When an accident occurs, the insured should be indemnified - restored to the approximate financial condition occupied before the loss occurred.


Consists of visual verification of a car or truck’s physical condition.

Insurable Interest

Exists when an individual would suffer an economic loss as the result of damage to property or bodily injury.

Insurance Fraud

Falsifying the facts of an accident to an insurance company to obtain a settlement. It can also occur when facts are omitted or misrepresented when completing the application for insurance. Common types of insurance fraud are staged accidents, faked injuries, and untrue statements about prior accidents, losses, drivers or vehicles.

Insurance ID Card

This is a card issued by your insurance company that contains basic information about your insurance policy.

Insurance Score

A person’s insurance score is often determined by their credit history, and is used in some states to determine if a policy is written or if a billing plan is offered.

Legal Liability

This is liability (or responsibility) imposed by a law, rather than liability coming from a contract or other agreement.

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