• Home
  • Our Agency ›
    • About ›⤵
      • About
      • Meet Our Team
      • Our Locations
      • Our Reviews
      • Press Releases
    • Request Certificate of Insurance
    • Companies We Represent
    • Contact Us ›⤵
      • Contact Us
      • McLean Office
      • Alexandria Office
  • Products ›
    • Products
    • Home & Auto Insurance
    • Auto Insurance ›⤵
      • Auto Insurance
      • Liability Coverage
      • Comprehensive Coverage
      • Collision Coverage
      • Uninsured & Underinsured Motorist Coverage
      • Diminishing Deductible
      • Accident Forgiveness
      • Minor Violation Forgiveness
      • Roadside Assistance
      • Classic Auto Insurance
      • 24-Hour Customer Service
      • Rental Reimbursement
      • SR-22 Insurance
      • Towing
      • Personal Injury Protection (PIP)
      • Medical Payments Coverage
    • Home Insurance ›⤵
      • Home Insurance
      • High Value Home Insurance
      • Property Insurance
      • Homeowners Liability
      • Renters Insurance
      • Condo Insurance
      • Mobile Home Insurance
      • Scheduled Property Insurance
      • Flood Insurance
      • Landlords Insurance
      • In-Home Business Insurance
      • Earthquake Insurance
    • Other Personal Insurance ›⤵
      • Airbnb/Short-term Renatl Insurance
      • Other Personal Insurance
      • Collectible Insurance
      • Identity Theft
      • Jewelry Insurance
      • Personal Umbrella Insurance
      • Pet Insurance
      • Data Backup
      • Special Event Insurance
    • Life Insurance ›⤵
      • Life Insurance
      • Individual Life Insurance
      • Group Life Insurance
      • Mortgage Protection Insurance
      • Disability Insurance
      • Second-To-Die Policy
      • Key Person (Key Men) Insurance
    • Recreational Vehicle Insurance ›⤵
      • Recreational Vehicle Insurance
      • Boat Insurance
      • Motorcycle Insurance
      • Motorhome Insurance
      • ATV Insurance
      • Snowmobile Insurance
    • Industry Specific Insurance ›⤵
      • Industry Specific Insurance
      • Accounting Firm Insurance
      • Alarm Contractors Insurance
      • Builders Risk Insurance
      • Commercial Real Estate
      • Contractors Insurance
      • Construction Insurance
      • Consulting Firm Insurance
      • Specialty Trade Contractors Insurance
      • Craft Brewery Insurance
      • Healthcare Practice Insurance
      • HVAC Contractors Insurance
      • Landscaping Insurance
      • Law Firm Insurance
      • Maintenance Contractors Insurance
      • Manufacturing Insurance
      • Media & Advertising Insurance
      • Personal Trainer Insurance
      • Printers & Publishers Insurance
      • Real Estate Businesses Insurance
      • Restaurant Insurance
      • Retail Insurance
      • Snow Plow Insurance
      • Plumbing Contractors Insurance
      • Rideshare Insurance
      • Specialized Truck Equipment Insurance
      • Vacation Rental Property Insurance
      • Technology Services Insurance
    • Business Insurance ›⤵
      • Business Insurance
      • Loss Control Insurance
      • Business Owners Policy (BOP)
      • Commercial Auto Insurance
      • Commercial General Liability
      • Commercial Property Insurance
      • Commercial Umbrella Insurance
      • Cyber Liability Insurance
      • Crime Insurance
      • Employment Practices Liability Insurance
      • Home Office Insurance
      • Inland Marine Insurance
      • Professional Liability
      • Workers Compensation
      • Bonds
      • Fidelity Bonds
      • Small Business Insurance
      • Small Business Liability Insurance
      • Surety Bonds
  • Contact Us ›
    • Contact Us
    • McLean Office
    • Alexandria Office
    • Locations & Hours
  • Resources›
    • Business Affiliates
    • Get Your Flood Risk Score
    • Insurance Glossary
  • News and Updates ›
    • News and Updates
  • Blog ›
    • Blog
  • Get a Quote
Call Us 703-823-8800 ☰ ˟
Kinneman Insurance Logo
Call Us Today 703-823-8800
Home > Es-Us > Glossary > U

Insurance Glossary

Insurance terms and definitions from Kinneman Insurance.


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 Kinneman Insurance 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


Send us a Message
Kinneman Insruance

Alexandria Office
5130 Duke St # 1
Alexandria, VA 22304

703-823-8800
McLean Office
1301 Vincent Pl.
McLean, VA 22101

703-356-8155

Important Links
Meet the Team
Blogs
Carriers

© Copyright 2021. All rights reserved | Powered by Insurance Website Builder