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

A
Actual Cash Value - An amount equivalent to the replacement cost of lost or damaged property at the time of the loss, less depreciation.

B
Bobtail Liability Coverage (a.k.a. Non-Trucking Liability Insurance) - Coverage for bodily injury and property damage caused by the operator of the vehicle when the truck is being used for personal convenience, and not under dispatch or pulling a loaded trailer. When under dispatch, the vehicle is covered under the Primary Liability insurance policy of the company to which the owner operator is leased.

C
Cargo Insurance (Motor Truck) - Insurance against loss from legal liability for damage to goods or merchandise in the insured's care and custody in the course of transit.

D
Deductible - The amount of loss that an insured has to pay out of pocket before he/she is entitled to recovery from the insurer in the event the insured sustains a loss.

Downtime Loss and Rental Reimbursement Coverage - Coverage for expenses resulting from downtime or the need to rent a replacement vehicle.

E
Endorsement - A written or printed form attached to the policy which alters provisions of the contract.

Exclusion - A contractual provision that denies coverage for certain perils, persons, property, or locations.

F
Family Emergency Travel Coverage - Travel cost reimbursement family members visiting a trucker who is injured and hospitalized away from home as a result of an accident to a covered auto. Also provides reimbursement for travel to the location necessary to handle the immediate affairs of the insured trucker in the event of death.

G

Gap Insurance - Coverage that pays the difference between the actual cash value of the vehicle and the amount still to be paid on the loan in the event of a total loss by collision.

General Liability Insurance - Covers the insured's liability for property damage or bodily injury to others arising out of the insured's premises, operations, products and completed operations.

H, I
Incurred Losses - The losses occurring within a fixed period, whether or not adjusted or paid during the same period.

J, K, L
Limited Depreciation Coverage - Coverage which increases the amount payable to you in the event of a claim by limiting the amount of depreciation your settlement would normally be subject to.

Loading and Unloading Coverage - Provides liability protection for damage resulting from the handling of property during the loading onto or unloading from your covered vehicle.

Loss Reserves - Amounts set aside to meet costs of claims incurred, but not yet finally settled.

Loss Run - A computerized listing of the insured's losses.

M, N
Non-Trucking Liability Insurance (a.k.a. Bobtail Liability Coverage) - Coverage for bodily injury and property damage caused by the operator of the vehicle when the truck is being used for personal convenience, and not under dispatch or pulling a loaded trailer. When under dispatch, the vehicle is covered under the Primary Liability insurance policy of the company to which the owner operator is leased.

O, P
Personal Effects Coverage - Coverage for loss to personal property owned by you carried in your truck.

Physical Damage Coverage - Provides actual cash value protection to an insured vehicle in the event of a collision, theft, fire or vandalism.

Premium - The price of insurance protection for a specified risk for a specified period of time.

Primary Liability Insurance - Coverage against loss from legal liability of the insured for bodily injury or property damage to another party. This coverage is mandated by the State and Federal agencies for every trucker/trucking company operating under his/her own authority.

Q, R, S, T, U
Underinsured Motorists Coverage - Coverage under which the insurer will pay damages up to specified limits for bodily injury damages, if the limits of liability under the liable motorist's policy are exhausted and he cannot pay the full amount he is liable for.

Uninsured Motorists Coverage - Coverage under which the insurer will pay damages to the insured for which another motorist is liable if that motorist is unable to pay because he is uninsured. This coverage usually applies to Bodily Injury damages only. Injuries to the insured caused by a hit-and-run driver are also covered.

Unladen Liability Coverage - Coverage, required by some Motor Carriers of the Leased Owner Operator, applies for Auto Liability when you are deadheading from your delivery point to your next pickup point.

V, W, X, Y, Z