Call Us (209) 684-9999 ☰ ˟
Call Us: (209) 684-9999
  • Main Menu
    • Home Page
    • Secure File Area
    • Refer a Friend
    • Join Our Newsletter
    • Insurance Glossary
    • Location Map
    • Employee Directory
    • Contact Us
    • About Us
    • Privacy Policy
  • Get a Quote
    • Auto Insurance Quote
    • Homeowners Insurance Quote
    • Life Insurance Quote
    • Renters Insurance Quote
    • Business Owners (BOP) Quote Form
    • General Liability Quote Form
    • Workers Compensation Quote
    • Farm Quote Request
  • File a Claim
  • Customer Service
    • Testimonials
    • Refer a Friend
  • Resources
    • Blog
    • Calculators
    • Insurance Glossary
  • About US
    • About Us
    • Location
    • Privacy Policy
  • Contact
Icon

Auto

On every driver, protecting you and your family is our main goal.

Get a Quote
Icon

Home

Home is where the heart is. Protecting your biggest assets is our goal.

Get a Quote
Icon

Life

Life Insurance is for your loved ones. Protecting your family is our number one goal.

Get a Quote
Icon

Commercial

Protect your business and your employees with a trusted agent.

Get a Quote
Icon

Recreational

Let us worry about protection while you are out having fun

Get a Quote
Home > Glossary > U

Insurance Glossary

Insurance terms and definitions from CalWest Insurance Agency, LLC.


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 CalWest Insurance Agency, LLC. 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
UMBRELLA POLICY
Coverage for losses above the limit of an underlying policy or policies such as homeowners and auto insurance. While it applies to losses over the dollar amount in the underlying policies, terms of coverage are sometimes broader than those of underlying policies.

UNBUNDLED CONTRACTS
A form of annuity contract that gives purchasers the freedom to choose among certain optional features in their contract.

UNDERINSURANCE
The result of the policyholder’s failure to buy sufficient insurance. An underinsured policyholder may only receive part of the cost of replacing or repairing damaged items covered in the policy.

UNDERWRITING
Examining, accepting, or rejecting insurance risks and classifying the ones that are accepted, in order to charge appropriate premiums for them.

UNDERWRITING INCOME
The insurer’s profit on the insurance sale after all expenses and losses have been paid. When premiums aren’t sufficient to cover claims and expenses, the result is an underwriting loss. Underwriting losses are typically offset by investment income.

UNEARNED PREMIUM
The portion of a premium already received by the insurer under which protection has not yet been provided. The entire premium is not earned until the policy period expires, even though premiums are typically paid in advance.

UNINSURABLE RISK
Risks for which it is difficult for someone to get insurance.

UNINSURED MOTORISTS COVERAGE
Portion of an auto insurance policy that protects a policyholder from uninsured and hit-and-run drivers.


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

Contact Us Today!
(209) 684-9999

Social Social Social Social

Resources

  • Products Customer Service Payment Options
  • Report a Claim
  • News
  • About Us
  • Refer A Friend
  • Our Carriers
  • Blog
  • Contact Us

Contact Us

2881 Geer Rd., Suite C
Turlock, CA 95382

P: (209) 684-9999 | F: (209) 788-1111 | E: Jilbert@CalWestins.com


© Copyright. All rights reserved. | Powered by Insurance Website Builder