Rate - The pricing factor upon which an insurance premium
is based, it is the cost of a given unit of insurance.
Registered keeper - The person who looks after a vehicle,
not necessarily the owner. For example, you may use a car that is
owned by someone else in which case you would be the registered
keeper. Or you may own a vehicle that you allow your children to
use and therefore the registered keeper would be one of your children.
Reinsurance - The practice whereby one insurer transfers
part or all of the risk it has accepted to another insurer (the
reinsurer).
Renewal - An agreement to continue insurance beyond any
original term. For group insurance it is often used to refer to
the annual update of membership details and production of annual
accounts.
Replacement car - A car provided by an approved repairer
or another company instructed by the insurer whilst repairs are
made to your car under an insurance claim.
Rescission - Termination of an insurance contract by the
insurer on the grounds of mis-statement by the insured.
Rider - An amendment to an insurance policy that modifies
the policy by expanding or restricting its benefits or excluding
certain conditions from coverage.
Roadside rescue - A policy that provides recovery and repair
services for motorists. Traditionally, breakdown services were provided
by the RAC and the AA, but more recently insurance companies have
started to offer this sort of policy.
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