Glossary

Admin

The process of managing an insurance policy. This covers anything from sending documents to making a change to your policy.

Agreed value

When you and your insurer agree on the value of the car you're insuring at the start of your policy. This is what's then paid out in a claim if the car is written off.

Add-on

An optional extra that can be added to an insurance policy (for example, our Home Emergency Cover add-on for home insurance).

Claim

A formal request to your insurer asking for a payment or repairs to cover a loss or an incident. For example, a car accident, a vet bill, etc.

Comprehensive cover

A type of car or van insurance that covers yours and any other vehicle, or an injured person involved, even if the accident is your fault.

Compulsory excess (fixed excess)

The amount of money you have to pay for a claim before your insurer covers the rest.

Cooling-off period

The period of time you have after you've taken out a policy to decide if you want to cancel it for any reason.

Declaration

A statement that includes correct and truthful information about yourself and your policy's details.

Direct Debit

An arrangement between you and your bank to schedule a recurring payment (usually monthly) for a product or service - in our case, insurance.

Excess waiver

A one-time payment that means you don't have to pay any excess you'd usually need to pay when making a claim (often on a travel insurance policy).

Insurance policy information document (IPID)

The document you get when you take out an insurance policy (either digitally or on paper). This can include a summary of your cover, the length of your policy and other details.

Liability

Who's found to be at fault and is responsible for the insurance claim. For example, if you or someone else caused a car accident.

Mitigation

The process of reducing the risk of loss in an unexpected event, such as a car accident or house flood. For example, turning off your water after a pipe bursts would be mitigating the water damage to your home.

MultiCar

An Admiral car or van insurance product that covers two or more vehicles on one policy.

MyAccount

Our online portal for viewing and managing your insurance policies.

Named driver

Anyone who's been added to your insurance policy as someone who drives the insured car. This is different to the main driver.

No claims bonus (NCB)

A discount you can get on your insurance policy based on the number of years in a row you've gone without making a claim.

Policy

The agreement between you and your insurer that includes the terms of your cover and any extras you've added to your policy.

Policyholder

The person who's responsible for the insurance policy and has their name and contact details on it.

Policy exclusions

Things that are not covered by an insurance policy. For instance, cover for a car accident that happened when an uninsured driver was at the wheel.

Policy limits

The highest amount we'll pay out for a claim. There are some other limits too - for instance, how long you have to make a claim after an incident.

Policy schedule

A summary document of the cover offered under the insurance policy you've taken out.

Premium

The annual or monthly cost of your insurance policy, including any extras you've added to it.

Quote

The price and details of the policy you're offered by an insurer after you give your details (e.g. occupation, car model, holiday destination, etc.).

Registered keeper

The legal owner of a vehicle that's named on its V5C document from the DVLA.

Renewal

The process of extending or restarting your policy when it runs out. Insurance policies are usually valid for a year before you need to renew.

Repatriation

The process of returning someone back to the UK after an illness or injury, or if they've passed away while abroad.

Settlement

The agreed outcome of an insurance claim. This is usually an amount of money but could also be repairs or replacing something.

Telematics

A type of car insurance that uses a small device to track how safely someone drives. If they drive safely, they could get a discount when it's time to renew.

Territorial limits

Which countries we do and don't cover. You'll see this when talking about travel insurance, but it could apply to car or van insurance too.

Third-party, fire and theft (TPFT)

A type of car or van insurance that covers your car for damage caused by fire or theft. It doesn't cover your car for damage in accidents.

Tier

A tier is a level of insurance cover. Higher tiers tend to cover more things and have higher limits on how much you can claim. The types of tiers available are specific to each product we offer.

Void

When your insurance policy becomes invalid because you've been untruthful about important details, such as your car's age or past motoring offences.

Voluntary excess

The amount you choose to pay (often on top of a compulsory excess) for a claim before your insurer covers the rest. If you choose a higher voluntary excess, you'll pay less on your monthly or annual insurance payments.

Write-off

When your car or van is classed as being more expensive to repair than it would be to buy a replacement vehicle.