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bankbazaar.ae
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Definitions (54)
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economy fare
Economy rate refers to the lowest rate for an economy ticket.
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actual cash value
Actual Cash Value defines the repayment value of the car due to loss or damage to the car. The cost is calculated after subtracting the depreciation.
Meaning awaits approval from a moderator |
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accident insurance
Accident Insurance is a cover provided under Car insurance for unforeseen bodily injury one might incur from an accident.
Meaning awaits approval from a moderator |
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accidental death and dismemberment
This is a cover that offers to pay a benefit in case of death or dismemberment caused by an accident.
Meaning awaits approval from a moderator |
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bodily injury liability cover
This is a car insurance cover that pays for the injuries incurred by the people involved in an accident where the insured is directly liable for the accident. The cover usually includes medical expenses, legal defence costs and other costs that might be incurred from the accident.
Meaning awaits approval from a moderator |
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comprehensive cover
Comprehensive cover is the cover offered by the policy which will pay for the damage of your insured vehicle. The cover will pay for damage incurred from theft, vandalism or flood.
Meaning awaits approval from a moderator |
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collision cover
This will pay for the damage of your insured vehicle when it collides with another vehicle. Exclusions may apply with Collision cover.
Meaning awaits approval from a moderator |
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claim
Claim in case of Car Insurance is a request made by the insured to the insurance company to cover a loss incurred by the insured car.
Meaning awaits approval from a moderator |
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deductible
Deductible defines the amount that the insured has to pay for the losses incurred before the insurance provider pays up for the claim made.
Meaning awaits approval from a moderator |
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exclusions
Exclusions include all that is not covered under the car insurance policy.
Meaning awaits approval from a moderator |
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