DECLARATIONS PAGE: The first page in your policy. It typically includes your name and address, the policy’s time period, your premium amount, your coverages, and your coverage limits. DEDUCTIBLE: What you have to pay for out-of-pocket before the insurance company pays. Example: If your deductible is $500 and the covered damage is $1000, you will pay $500 and your insurance will pay the other $500. DRIVE OTHER CAR COVERAGE (AKA INSURANCE OR ENDORSEMENT): Used for company cars, this covers the driver and his or her family members if they drive a vehicle other than the company car. ESTIMATE: The amount the insurance company will pay. This will likely be itemized. EXCLUSIONS: Whatever your policy doesn’t cover. These will all be listed within your policy. EXCLUSIVE AGENT: See “captive agent.” EXPOSURE UNIT: The item that is being exposed to loss. (In other words, your
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