Coral Financial Group Home Page Get A Quote About Us FAQ Contact Us

Coral Financial Group Auto Insurance Home Insurance Business Insurance Life Insurance Flood Insurance
Home > Glossary > G
Travelers
Progressive
Prepared
ASI
Foremost
Mercury
Universal
People's Trust
Bankers
Wright Flood
  • Main Menu
    • Home Page
    • File a Claim
    • Make a Payment
    • Refer a Friend
    • Join Our Newsletter
    • Important Links
    • Insurance Glossary
    • View our Blog (14)
    • Location Map
    • Employee Directory
    • Contact Us
    • About Us
    • Privacy Policy
  • Automobile
    • Automobile Insurance Home
    • Auto Quick Quote Sheet
    • Request an ID Card
    • Request a Declarations Page
    • Send a Copy of Your Policy to Your Leinholder
  • Homeowners
    • Homeowners Insurance Home
    • Home Quote Sheet
    • Declaration Page Request
    • Does your mortgage need proof of your insurance?
    • Condo Quote Sheet
    • Rental Property Quote Form
    • Apartment Contents Quote Form
    • Wind Only For Personal Lines Quote Request
  • Motorcycle
    • Motorcycle Insurance Home
    • Request a Motorcycle Quote
  • Business & Commercial
    • Business & Commercial Insurance Home
    • General Liability Quote Form
    • Request General Liability Certificate of Insurance
    • Commercial Auto Quote Sheet
    • Request a Certificate of Insurance
    • Workers Compensation Quote
    • Request a BOP Quote
    • Builders Risk Quote Form
  • Bonds
    • Bonds Home
    • Bond Quote Request
  • Recreational Vehicle
    • Recreational Vehicle Insurance Home
    • Recreational Vehicle Insurance Quote
  • Life
    • Life Insurance Home
    • Life Quote Form
  • Flood
    • Flood Insurance Home
    • Flood Quote Request
    • Flood Declaration Page Request for Existing Customers
    • Does your mortgage company need proof of your flood insurance?

Insurance Glossary

Insurance terms and definitions from Coral Financial Group Inc.


Coverages and benefits listed below may not be available in your state. If available, some optional coverages and benefits might be offered at an additional charge. Contact Coral Financial Group Inc. today to learn more.
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
GAP INSURANCE
An automobile insurance option, available in some states, that covers the difference between a car’s actual cash value when it is stolen or wrecked and the amount the consumer owes the leasing or finance company.

GENERALLY ACCEPTED ACCOUNTING PRINCIPLES/GAAP
Generally accepted accounting principles (GAAP) accounting is used in financial statements that publicly-held companies prepare for the Securities and Exchange Commission.

GENERIC AUTO PARTS
Auto crash parts produced by firms that are not associated with car manufacturers. Insurers consider these parts, when certified, at least as good as those that come from the original equipment manufacturer (OEM). They are often cheaper than the identical part produced by the OEM

GLASS INSURANCE
Coverage for glass breakage caused by all risks; fire and war are sometimes excluded. Insurance can be bought for windows, structural glass, leaded glass, and mirrors. Available with or without a deductible.

GRADUATED DRIVER LICENSES
Licenses for younger drivers that allow them to improve their skills. Regulations vary by state, but often restrict night time driving. Young drivers receive a learner’s permit, followed by a provisional license, before they can receive a standard drivers license.

GRAMM-LEACH-BLILEY ACT
Financial services legislation, passed by Congress in 1999, that removed Depression-era prohibitions against the combination of commercial banking and investment-banking activities. It allows insurance companies, banks, and securities firms to engage in each others’ activities and own one another.

GROUP INSURANCE
A single policy covering a group of individuals, usually employees of the same company or members of the same association and their dependents. Coverage occurs under a master policy issued to the employer or association.

GUARANTEE PERIOD
Period during which the level of interest specified under a fixed annuity is guaranteed.

GUARANTEED DEATH BENEFIT
Basic death benefits guaranteed under variable annuity contracts.

GUARANTEED INCOME CONTRACT / GIC
Often an option in an employer-sponsored retirement savings plan. Contract between an insurance company and the plan that guarantees a stated rate of return on invested capital over the life of the contract.

GUARANTEED LIVING BENEFIT
A guarantee in a variable annuity that a certain level of annuity payment will be maintained. Serves as a protection against investment risks. Several types exists.

GUARANTEED REPLACEMENT COST COVERAGE
Homeowners policy that pays the full cost of replacing or repairing a damaged or destroyed home, even if it is above the policy limit.

GUN LIABILITY
A new legal concept that holds gun manufacturers liable for the cost of injuries caused by guns. Several cities have filed lawsuits based on this concept.


NOTICE: These glossary definitions provide a brief description of the terms and phrases used within the insurance industry. These definitions are not applicable in all states or for all insurance and financial products. This is not an insurance contract. Other terms, conditions and exclusions apply. Please read your official policy for full details about coverages. These definitions do not alter or modify the terms of any insurance contract. If there is any conflict between these definitions and the provisions of the applicable insurance policy, the terms of the policy control. Additionally, this informational resource is not intended to fully set out your rights and obligations or the rights and obligations of the insurance company, agent or agency. If you have questions about your insurance, you should contact your insurance agent, the insurance company, or the language of the insurance policy.

Insurance Websites Designed and Hosted by Insurance Website Builder
Glossary content provided by Insurance Information Institute and ITC

Coral Financial Group EmployeesWe are here to help!

The Coral Financial team is here to help with any and all of your insurance needs. Combined, our agency has over 40 years of insurance knowledge in personal to commercial lines of business.

We look forward to assisting you, your family and your friends with any of your insurance needs. Please do not hesitate to contact us, we look forward to speaking with you.

 
Coral Financial Group
Get A Quote Find An Agent Locations
Home|Get A Quote|About|Customer Service|Claim|Partners|Contact


Coral Financial Group
9764 W Sample Rd| Coral Springs, FL 33065
Ph: 954.345.2600| Fx: 954.345.2614
Powered by Insurance Website Builder
Social

Facebook