| Glossary of Terms |
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| ALL RISKS |
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| ANNUAL DECLARATION OF VEHICLES |
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| BEDROOM RATED HOME CONTENTS INSURANCE COVER |
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| BROKER |
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| BUILDINGS INSURANCE |
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| BUSINESS INTERRUPTION |
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| COMBINED PACKAGE |
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| CONTENTS INSURANCE |
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| CONTRACTORS ALL RISKS |
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| DRIVING OTHER CARS |
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| EXCESS |
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| FLEET INSURANCE |
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| GOODS IN TRANSIT-CARGO |
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| GREEN CARD |
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| GROUP INSURANCE |
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| INSURER |
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| LIABILITY |
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| MOTOR INSURANCE |
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| NO CLAIMS BONUS |
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| OPEN DRIVE |
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| PACKAGE POLICY |
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| PREMIUM |
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All Risks - Cover is available for personal possessions regularly taken outside the property. Such cover is particularly suitable for personal jewellery, watches, cameras, laptops, etc. Usually such cover is only available in conjunction with contents cover. |
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Bedroom-rated home contents insurance cover - Bedroom-rated policies base what you pay for your insurance on the number of bedrooms in your house. This sort of insurance may not be available if your house has more than certain number of bedrooms (including those that you do not use as bedrooms – a storage room or office at the top of the house, for example). If a bedroom-rated policy offers unlimited cover, you do not need to know the total value of your possessions and there is no risk of you being under-insured. If the policy puts a limit on the amount you are insured for – e.g. €60,000 – you will still need to work out the total value of your possessions to see whether the policy’s limit will provide sufficient cover. |
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Broker - Insurance salesperson that searches the marketplace in the interest of clients, not insurance companies. |
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Buildings insurance - Buildings in respect of household insurance, may be defined as the main structure of the private dwelling (house, etc) and includes garages, sheds, greenhouses and other outbuildings. Swimming pools and tennis courts are also included. Anything that you would normally leave behind when moving from a house is a part of the building. This would include, for example, fitted kitchens or bedrooms, electrical fittings and double glazing. |
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Business Interruption - If some event, such as fire or theft, prevents the business from trading, this coverage, also known as consequential loss insurance, provides the owner with an income stream for the chosen insurance period. Coverage pays for loss of net profit and ongoing expenses. |
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Combined package - Clients can select a wide range of insurance coverage from within a specially designed package. Covers may include Property Damage; Business Interruption; Theft; All Risks; Employers, Public and Products Liability; Money; Goods In Transit; Book Debts; Personal Accident. |
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Contents insurance - Contents in respect of household insurance, may be defined as household goods and personal effects of every description, belonging to the insured or a family member living in the property. |
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Contractors All Risks (CAR) - Contractors All Risks (CAR) provides cover for contract works which can include loss or damage to own and hired in plant together with employees tools. Cover is on an ‘All Risks’ basis. |
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Driving other cars - D.O.C. is a facility which allows you the actual policyholder to drive other cars or motor cycles on a third party basis only. This facility is not available to everybody; it is subject to certain conditions |
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Excess - The first amount of each and every claim that the insured must bear. |
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Fleet insurance - Usually a type of commercial motor insurance; beneficial insurance of 5 or more vehicles under one policy. |
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Green Card - A green card has the same function as an Insurance Certificate. It is used when travelling abroad and is internationally recognised as proof that your car is insured. We can provide you with your Green Card prior to travelling, without any charge. The Green Card provides you with cover abroad for up to a maximum of 90 days |
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Group insurance - Insurance that covers a group of people, usually that they are members of societies, employees of a common employer, or professionals in a common group.
Group insurance may or may not be converted to individual coverage. As group insurance gets big business for insurance company with minimum operational expenses (under one master policy issued to employer, union or any recognised group)it is usually less expensive than individual policies.
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Insurer - The company offering protection through the sale of an insurance policy to an insured. |
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LIABILITY - Obligation to make up for damage caused to Third Party. |
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Employers Liability - This is a statutory requirement if you are an employer. It protects your business assets from legal proceedings for injury to your employees during the course of their employment. |
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Professional Indemnity - (known commonly as professional liability insurance) provides protection against any action by clients who believe they have received bad or negligent service or advice and have incurred a loss as a result. Most professional bodies have professional indemnity cover - in some cases it is compulsory. Anyone who supplies advice or services such as consultancy should consider professional indemnity. We can provide professional liability insurance accountants, architects, engineers, nurses and other professions at higher risk from liability cases. |
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Property Owners Liability - Property owners' liability insurance enables you to meet any costs and damages awarded to a member of the public if they suffer an injury following an accident on, or linked to, your premises. |
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Public Liability & Product Liability - Insurance that protects your business assets from legal proceedings for injury or property damage to third parties caused by your business activities or the products you supply. Manufacturers product liability insurance is particularly important due to the large numbers of people in contact with their products on a daily basis. |
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| MOTOR INSURANCE COVER. TYPES OF MOTOR INSURANCE COVER: |
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Third Party Only Insurance - Insurance is the bare minimum level of cover of car insurance required in Ireland. This cover essentially protects third parties (pedestrians or drivers) so they do not lose out financially should you injure them, or cause damage to their vehicle (not your own car). Essentially third party protection covers you for: |
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• Liability for injuring other people (including your passengers)
• Liability for damage to property (not your own)
• Liability arising from using a caravan / trailer, while attached to your car
• Liability of passengers for accidents caused by them
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Third Party Fire and Theft - Broadly, this means that your car is not covered for anything other than fire or theft, however, any damage that you've caused to another car / person / item of property is covered above any excess you are required to pay. |
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Fully Comprehensive - Comprehensive cover gives you full risks cover for your car. In simple terms, it means that you can claim for any damage caused to your vehicle by any means, apart from exclusions that can be found in the small print. In addition to allowing you to claim for the damage caused to your car in an accident, with comprehensive car insurance cover, you can also claim for acts of vandalism, theft, or any other accidental damage to your car. If you are comprehensively insured and you cannot use your car, then most insurance companies will provide you with a temporary hire car whilst you car is being repaired. |
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No Claims Bonus/No Claims Discount (NCB/ NCD) - A no claims bonus is built up over the years and gives the policyholder a substantial reduction in the cost of his or her premiums. The ceiling for a no claims bonus is usually around 60%, leaving someone who has never had a claim with only 40% to pay. In the event of a minor accident, it is sometimes cheaper to pay for any damage out of your own pocket rather than claiming from your insurance and losing your no claims bonus. If you make a claim and subsequently lose your no claims bonus, you can build it up again in a few years. Some insurance companies will even allow you one claim without it affecting your no claims bonus- Protected No Claim Bonus
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Protected No Claim Bonus - A protected No Claims Bonus can only be offered to people who hold 5 years No Claims Bonus in their own name. To be eligible for this you must also purchase a Stepback Bonus Protection policy. It allows you to incur at least 1 unlimited claim a year (depending on the company protection varies) without incurring any loss of your current No Claims Bonus.Claims for windscreen breakage, fire and theft are not considered a claim.
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Stepback Bonus Protection
- With stepback bonus protection, you can reduce the percentage loss of your No Claims Bonus, resulting from a single claim on your insurance
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Open Drive - open drive option in a policy means that any driver (*limited to a certain age groups) is covered under the policy |
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Package policy - A policy designed to provide cover automatically for a range of classes of insurance. |
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Premium - The price of insurance protection for a specified risk for a specified period of time. |
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| Please use the form on the Contact page if you wish to enquire about our services. |
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