Carport - A roof that covers a driveway or other parking
area, which does not have a door in the manner of a garage.
Caveats - A condition attached to an insurance quotation.
CII - An acronym for the Chartered Insurance Institute,
a body controlling professional, eithical and educational standards
in the insurance industry.
Claim - The term used to describe the process of getting
an insurance company to pay out on the policy you bought from them.
Code of practice - An agreement that certain professions
sign up to in which they agree to act in a certain way and which
therefore protects the consumer.
Co-insurance - An arrangement by which a number of insurance
companies cover a particular risk.
Collision damage waiver - An extra insurance premium you
may have the option to take which removes your liability to pay
any insurance excess in the event of a collision or damage to a
vehicle such as a hire car.
Commission - The percentage of the premium cost an introducer
receives.
Comprehensive cover - The most expensive form of car insurance,
that offers the most comprehensive cover. It covers damage to others'
cars and to your own as well as losses incurred by fire and theft.
Conditional insurance - An insurance policy to which mortgage
borrowers must sign up to with the lender in order to take out a
specific mortgage. This is rarely the case with car insurance, except
sometimes with hire cars.
Conditions - Provisions in an insurance contract that state
the rights and duties of the insured and of the insurer.
Consequential loss - A financial loss occurring as the result
of some other loss. Also known as an indirect loss. (Eg - Acar is
destroyed in an accident. The loss of the car is a direct loss.
The loss of ongoing profit because of the inability to continue
working without a vehicle is a consequential loss).
Contract - A legally enforceable agreement between two parties.
Contractual liability - The terms of a contract to which
you must abide - failure to do so can incur financial or even criminal
penalties.
Cooling off period - A period allowed in certain circumstances
during which a person who has entered into a contract usch as an
insurance policymay cancel it without incurring any penalty.
Cover - In the context of insurance, cover describes the
specific risk a given policy protects you against.
Cover note - A temporary certificate confirming that an
insurance policy is in force, used while further information is
being gathered.
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