• Home
  • Get A Quote
  • Customer Service
  • Refer a Friend
  • About Us
  • Location Map
  • Employee Directory
  • Privacy Policy
  • Contact Us
Call Us CALL US TODAY | (816) 525-2125
Home
  • Home
  • Get A Quote
    • AutomobileImage of right arrow
      • Auto Insurance Quote
      • Auto Warranty Coverage Quote
      • Automobile Quick Contact
    • BondsImage of right arrow
      • Bond Request Form
      • Business Service Bond - Kansas
      • Business Service Bond - Missouri
      • ERISA Bond - Kansas
      • ERISA Bond - Missouri
      • Notary Bond w/E&O - Kansas
      • Notary Bond w/E&O - Missouri
    • Business & CommercialImage of right arrow
      • Builders Risk
      • Business Owners (BOP) Quote Form
      • Commercial Auto Insurance Quote
      • General Liability Quote Form
      • Liquor Liability Quote Form
      • Workers Compensation Quote
    • Flood
    • HealthImage of right arrow
      • Disability Insurance Quote
      • Group Health Quote Form
      • Long Term Care Insurance Quote
      • Medicare Supplement Insurance Quote
      • Short Term Medical Insurance Quote
    • HomeownersImage of right arrow
      • Home Example
      • Homeowners Quick Contact
      • Homeowners Insurance Quote
    • Individual Dental and Vision
    • Life
    • MotorcycleImage of right arrow
      • Cycle Quick Contact
      • Motorcycle Insurance Quote
    • Recreational VehicleImage of right arrow
      • Recreational Vehicle Insurance Quote
      • RV Quick Contact
    • Renters
    • Travel Insurance
    • Watercraft & BoatImage of right arrow
      • Boat Quick Contact
      • Watercraft Insurance Quote
  • Customer Service
    • AutomobileImage of right arrow
      • Add Driver to Existing Auto Policy
      • Add Vehicle to Existing Auto Policy
      • Remove Driver from Existing Auto Policy
      • Remove Vehicle from Existing Auto Policy
      • Request Declaration and Coverages Page for Auto Policy
      • Request ID Card for Auto Policy
      • Send Declaration and Coverages Information to Lien Holder
    • Business & CommercialImage of right arrow
      • Add Driver to Existing Commercial Auto Policy
      • Add Vehicle to Existing Commercial Auto Policy
      • Remove Driver from Existing Commercial Auto Policy
      • Remove Vehicle from Existing Commercial Auto Policy
      • Request Declaration and Coverages Page for Commercial Auto Policy
      • Request General Liability Certificate of Insurance
      • Request ID Card for Commercial Auto Policy
    • Homeowners
    • MotorcycleImage of right arrow
      • Add Driver to Existing Motorcycle Policy
      • Add Motorcycle to Existing Policy
      • Remove Driver from Existing Motorcycle Policy
      • Remove Motorcycle from Existing Policy
      • Request Declaration and Coverages Page for Motorcycle Policy
      • Request ID Card for Motorcycle Policy
    • Recreational VehicleImage of right arrow
      • Add Driver to Existing Recreational Vehicle Policy
      • Add Recreational Vehicle to Existing Policy
      • Remove Driver from Existing Recreational Vehicle Policy
      • Remove Recreational Vehicle from Existing Policy
      • Request Declaration and Coverages Page for Recreational Vehicle Policy
      • Request ID Card for Recreational Vehicle Policy
    • Renters
    • Watercraft & BoatImage of right arrow
      • Add Watercraft to Existing Policy
      • Change Primary Operator on Existing Watercraft Policy
      • Remove Watercraft from Existing Policy
      • Request Declaration and Coverages Page for Watercraft Policy
      • Request ID Card for Watercraft Policy
  • Customer Portal Login
  • Make A Payment
  • Resources
    • Secure File Area
    • Refer a Friend
    • Important Links
    • Important Files
    • Insurance Glossary
  • Mobile Apps
    • Apple Users
    • Android Users
  • About Us
    • About Twin Lakes Insurance Agency
    • Our Locations
    • Employee Directory
    • Privacy Policy
  • Contact
Home > Glossary > U

Insurance Glossary

Insurance terms and definitions from Twin Lakes Insurance 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 Twin Lakes Insurance 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

icon AUTO

Auto insurance protects you against financial loss if you have an accident.

Read More
icon HOME

A standard policy insures the home itself and the things you keep in it.

Read More
icon BUSINESS

Discover the perfect insurance options to meet your specific and unique needs.

Read More
icon LIFE

Browse a variety of insurance options in order to find the right one for you.

Read More
Health Insurance HEALTH

Learn about different coverage options that fit your needs.

Read More
BONDS

Finding insurance doesn't have to be difficult. We do the work for you.

Read More
Facebook
Twitter
LinkedIn
Carriers
Carriers
Carriers
Carriers
Carriers
Carriers
Carriers
Twitter Logo

Resources

Home About Us Get a Quote Customer Service Refer A Friend Contact Us
Apple Users Android Users

Contact Us

a drawing of a face
  • Mailing Address
  • 2641 NE McBaine Dr 
  • Lee's Summit, MO 64064
  • (816) 525-2125
  • info@twinlakesins.com
© Copyright. All rights reserved.
Powered by Insurance Website Builder