Call Us 800-697-8109 ☰ ˟
InsProAgency
Facebook Twitter Instagram LinkedIn
Request a Quote Call Us: 800-697-8109
  • Our Products
    • Automobile
    • Boat
    • Business
    • Employee Benefits
    • Financial & Life
    • Flood
    • Health
    • Homeowners
    • MedicareImage of right arrow
      • Open Enrollment
    • Motorcycle
    • Personal Umbrella
    • Powersports
    • Renters
    • TruckingImage of right arrow
      • Commercial Trucking Insurance
  • File A Claim
  • Get A Quote
    • Nationwide Coverage
    • Automobile
    • Boat
    • Business
    • Employee Benefits
    • Flood
    • Health
    • Homeowners
    • Life
    • 401K Rollovers
    • Medicare
    • Motorcycle
  • Resources
    • Refer a Friend
    • Carrier Links
    • Insurance Glossary
    • New Versus Used Car Insurance Rates
    • Benefits of Independent Agents
    • Benefits of Having All Lines of Insurance with One Agent
    • Common Insurance Discounts
    • How to Lower Insurance Rates
  • Blog
  • About Us
    • About Us
    • Employee Directory
    • Testimonials
    • Privacy Policy
    • Locations & ReviewsImage of right arrow
      • Our Locations
      • Bristol, TN
      • Home and Auto Insurance in Abingdon, Virginia
      • Home and Auto Insurance in Pennington Gap, Virginia
  • Contact

Auto

We are happy to assist you in selecting the best coverage.

Quote Now

Home

We get you the right coverage for the right price.

Quote Now

Business

We offer free quotes and dedicated personal service.

Quote Now

Health

We offer free quotes and dedicated personal service.

Quote Now
Home > Glossary > W

Insurance Glossary

Insurance terms and definitions from InsurePro LLC .


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 InsurePro LLC 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
WAIVER
The surrender of a right or privilege. In life insurance, a provision that sets certain conditions, such as disablement, which allow coverage to remain in force without payment of premiums.

WAR RISK
Special coverage on cargo in overseas ships against the risk of being confiscated by a government in wartime. It is excluded from standard ocean marine insurance and can be purchased separately. It often excludes cargo awaiting shipment on a wharf or on ships after 15 days of arrival in port.

WATER-DAMAGE INSURANCE COVERAGE
Protection provided in most homeowners insurance policies against sudden and accidental water damage, from burst pipes for example. Does not cover damage from problems resulting from a lack of proper maintenance such as dripping air conditioners. Water damage from floods is covered under separate flood insurance policies issued by the federal government.

WEATHER DERIVATIVE
An insurance or securities product used as a hedge by energy-related businesses and others whose sales tend to fluctuate depending on the weather.

WEATHER INSURANCE
A type of business interruption insurance that compensates for financial losses caused by adverse weather conditions, such as constant rain on the day scheduled for a major outdoor concert.

WHOLE LIFE
Insurance which provides coverage for an individual's whole life, rather than a specified term. The oldest kind of cash value life insurance that combines protection against premature death with a savings account. Premiums are fixed and guaranteed and remain level throughout the policy’s lifetime.

WORKERS COMPENSATION
Insurance that pays for medical care and physical rehabilitation of injured workers and helps to replace lost wages while they are unable to work. State laws, which vary significantly, govern the amount of benefits paid and other compensation provisions.

WRAP-UP INSURANCE
Broad policy coordinated to cover liability exposures for a large group of businesses that have something in common. Might be used to insure all businesses working on a large construction project, such as an apartment complex.

WRITE
To insure, underwrite, or accept an application for insurance.


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

Get In Touch!
800-697-8109

Contact Us
Facebook Twitter Instagram LinkedIn

Resources

  • Request a Quote
  • File A Claim
  • Our Carriers
  • About Us

Our Locations

Abingdon, Virginia

Phone: (276) 628-8109

Clintwood, Virginia

Phone: (276) 926-8681

Weber City, Virginia

Phone: (276) 386-3838

Honaker, Virginia

Phone: (276) 873-6864

Pennington Gap, Virginia

Phone: (276) 546-1311

Norton, Virginia

Phone: (276) 679-3401
© Copyright 2022. All rights reserved. | Powered by Insurance Website Builder