Here at Omni Davis Insurance Brokers, we are committed to cutting through all jargon so that you understand the cover you are buying.
In the Insurance world, you may be unaware of certain terms and their meanings. That’s why we’re introducing our Insurance Jargon Buster blog series, starting with our first instalment of A-B…
A
Addendum
A document setting out agreed alterations to an Insurance policy.
Act Of God
An event that is unpredictable and unpreventable, which could cause damage or loss to vehicles, buildings or land for example.
Aggregate Limit Of Indemnity
The maximum amount of money an insurer will pay under a policy in respect of all accumulated claims arising within a specified period of insurance.
Arbitration Clause
An insurance policy clause which states that if you or your insurer can’t agree on an ‘appropriate claim settlement’, you will both hire a mutually agreed appraiser to settle the dispute.
All Risks
A term used to describe insurance against loss or damage to a property arising from an unexpected cause, except those that are excluded.
B
Broker
That’s us! An Insurance Broker is an independent go-between, who sells one or more policies from different insurance companies, with the aim of getting you the very best cover for the very best price.
Omni Davis are always here to help with any of your Insurance queries.
Call us on 01403 785 775 or send an email to info@omnidavis.co.uk, we’re available Monday to Friday from 9:00am to 5:00pm.
