Please use our insurance glossary to clarify the meaning of any terminology used in the insurance industry. As a young driver or first time driver, the terminology used in insurance contracts can be confusing. We have created a glossary of terms of particular interest to younger motorists to help clarify any of the difficult insurance language you might come across.

Whilst this glossary has been put together by people with many years of insurance expertise, it should only be used as a guide. For the ABI glossary visit their website.

Use the letters below to shortcut to relevant areas on this glossary.

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

R

Rate
The price of insurance, usually expressed as the cost per unit of cover, e.g. £x per £100.

Renewal Notice
An insurance notice sent to the policyholder inviting him/her to renew a policy for a further period and stating the premium payable.

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