Our glossary is a continued effort.  If you are looking for a definition and do not find it
here, please email us and will email you the definition and post it on our site.  Thank
you for your help!

Blanket Coverage         
The insured selects a "blanket" amount of coverage to cover "all" said property" . There is
generally a per-item limit of coverage within the blanket amount. For example, if an insured has
$150,000 in blanket coverage for contents with a $50,000 per-building limit, the most the insured
would receive for the total loss of contents at one building would be $50,000..

Bodily Injury Per Person
The limit the insurance company will pay one person in the event of a loss

Bodily Injury Per Accident
The total combined limit the insurance company for individuals combined.

Co-insurance
Coinsurance is a requirement by an insurance company stating that the insured must insure their
property up to a minimum percentage of an property's value. If this is not done, the insured can pay
a co-insurance penalty.

Exclusions         
The insurance company can list certain causes, conditions or property in a policy that are not
covered.

Market Value
The value of the property on the market (what it would sell for, not what it would cost to rebuild)

Medical Payments        
Coverage that  can pays medical or funeral expenses of a covered person without regard to legal
liability.

Named Peril Policies (Basic form)        
A policy that lists what perils are insured against.  

Peril         
The cause of a possible loss

Property Damage  (auto insurance)        
The amount the insurance company will pay for physical damage to tangible property.

Replacement Cost           
The cost of replacing (build, buy or find) your property without deducting depreciation. This is not
market value.

Uninsured/Underinsured Motorists (UM/UIM) Coverage        
When an insured is involved in an accident with a someone who does not have insurance
(uninsured) or  who has liability limits too low to cover the loss (underinsured).
762 Lemay Ferry
St. Louis, Missouri 63125
314-638-5020 Office
314-638-7731 Fax
info@parkerinsurancegroup.com
Large enough to serve you,

Small enough to care!
With offices in St
Louis, Florissant, St.
Charles, Fenton and
Leslie, Parker
Insurance Group is
proud to serve the
entire states of
Missouri and Illinois.