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

U

Underinsurance
When the sum insured is not enough to cover the maximum possible loss or damage. Under the condition of average an insurance firm may under pay a claim by the same percentage that the insured under-insured.

Underwriter
This is the person who decides whether to accept a risk and calculates a premium to be charged to the insured.

Utmost Good Faith
This refers to the principle of insurance that requires a proposer to give all relevant information to the insurer.

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