Call Us 330-376-7675 ☰ ˟
Logo
Call Us 330-376-7675
  • Home
  • Get A Quote
    • Auto Insurance Quote FormsImage of right arrow
      • Auto Insurance Quote
      • Auto Quote Form (short)
    • Business & Commercial Insurance Quote FormsImage of right arrow
      • Business Owners (BOP) Quote Form
      • Commercial Auto Insurance Quote
      • General Liability Quote Form
      • Liquor Liability Quote Form
    • Dental Insurance Quote FormsImage of right arrow
      • Dental Insurance Quote
    • Flood Insurance Quote FormsImage of right arrow
      • Flood Quote Form
    • Health Insurance Quote FormsImage of right arrow
      • Health Insurance Quote
      • Unemployment Health Insurance Quote
    • Homeowners Insurance Quote FormsImage of right arrow
      • Homeowner Flood Quote Form
      • Homeowners Insurance Quote
    • Life Insurance Quote FormsImage of right arrow
      • Life Insurance Quote
      • Term Life Insurance Quote
    • Motorcycle Insurance Quote FormsImage of right arrow
      • Motorcycle Insurance Quote
    • Recreational Vehicle Insurance Quote FormsImage of right arrow
      • Recreational Vehicle Insurance Quote
    • Renters Insurance Quote FormsImage of right arrow
      • Renters Insurance Quote
    • Vision Insurance Quote FormsImage of right arrow
      • Vision Insurance Quote
    • Watercraft & Boat Insurance Quote FormsImage of right arrow
      • Watercraft Insurance Quote
  • Make A Payment
  • Insurance Carriers
  • Resources
    • Refer a Friend
    • Calculators
    • Insurance Glossary
  • Employer Links
  • Employee Links
  • About Us
    • About Bologna Insurance Agency
    • Location Map
    • Employee Directory
    • Privacy Policy
  • Contact
    • Contact Us
    • Join Our Newsletter
Auto and Home Icon

Life & Health

We browse through a wide variety of coverages and find the right one for you.

Learn More
Auto & Home Icon

Auto & Home

Learn More
Life and Health Icon

Business

We browse through a wide variety of coverages and find the right one for you.

Learn More
RV and Boat Icon

Dental & Vision

We browse through a wide variety of coverages and find the right one for you.

Learn More
Annuities Icon

Medicare

We browse through a wide variety of coverages and find the right one for you.

Learn More
Home > Glossary > N

Insurance Glossary

Insurance terms and definitions from Bologna Insurance Agency.


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 Bologna Insurance Agency 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
NAMED PERIL
Peril specifically mentioned as covered in an insurance policy.

NATIONAL FLOOD INSURANCE PROGRAM
Federal government-sponsored program under which flood insurance is sold to homeowners and businesses.

NO-FAULT
Auto insurance coverage that pays for each driver’s own injuries, regardless of who caused the accident. No-fault varies from state to state. It also refers to an auto liability insurance system that restricts lawsuits to serious cases. Such policies are designed to promote faster reimbursement and to reduce litigation. This coverage is not available in all states, check with us to find out more.

NO-FAULT MEDICAL
A type of accident coverage in homeowners policies.

NO-PAY, NO-PLAY
The idea that people who don’t buy coverage should not receive benefits. Prohibits uninsured drivers from collecting damages from insured drivers. In most states with this law, uninsured drivers may not sue for noneconomic damages such as pain and suffering. In other states, uninsured drivers are required to pay the equivalent of a large deductible ($10,000) before they can sue for property damages and another large deductible before they can sue for bodily harm.

NON-ADMITTED ASSETS
Assets that are not included on the balance sheet of an insurance company, including furniture, fixtures, past-due accounts receivable, and agents’ debt balances

NON-ADMITTED INSURER
Insurers licensed in some states, but not others. States where an insurer is not licensed call that insurer non-admitted. They sell coverage that is unavailable from licensed insurers within the state.

NOTICE OF LOSS
A written notice required by insurance companies immediately after an accident or other loss. Part of the standard provisions defining a policyholder's responsibilities after a loss.

NUCLEAR INSURANCE
Covers operators of nuclear reactors and other facilities for liability and property damage in the case of a nuclear accident and involves both private insurers and the federal government.

NURSING HOME INSURANCE
A form of long-term care policy that covers a policyholder’s stay in a nursing facility.


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!
330-376-7675

Social Social Social Social Social Social

Resources

  • Products
  • Customer Service
  • Payment Options
  • Report a Claim
  • News
  • About Us
  • Refer A Friend
  • Our Carriers
  • Blog
  • Contact Us

Proud Member Of

Trusted Choice Greater Acryn Chamber Northern Ohio Area Chamber of Commerce BBB

Leave A Review

Yelp Review

Contact Us

405 Rothrock Rd., A100
Copley, OH 44321

P: 330-376-7675
Toll-free: 800-376-8867
F: 330-376-0866
© Copyright. All rights reserved. | Powered by Insurance Website Builder