☰ ˟
Call Us Today / 855.554.6482
Logo
  • Home
  • Get A Quote
  • Policy Service
  • What We Offer
    • Automobile
    • Business & Commercial
    • Flood
    • Homeowners
    • Limousine
    • Motorcycle
    • Recreational Vehicle
    • Renters
    • SR-22
    • Watercraft & Boat
  • Resources
    • View Our Blog
    • Review Us
    • Insurance Glossary
    • News Center
  • Payment/Claims
  • About Us
    • About Guardian Insurance
    • Our Location(s)
    • Employee Directory
    • Customer Testimonials
    • Privacy Policy
  • Contact Us

Find the right coverage that fits your needs!
Home > Glossary > U

Insurance Glossary

Insurance terms and definitions from Guardian Insurance.


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 Guardian Insurance 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
UMBRELLA POLICY
Coverage for losses above the limit of an underlying policy or policies such as homeowners and auto insurance. While it applies to losses over the dollar amount in the underlying policies, terms of coverage are sometimes broader than those of underlying policies.

UNBUNDLED CONTRACTS
A form of annuity contract that gives purchasers the freedom to choose among certain optional features in their contract.

UNDERINSURANCE
The result of the policyholder’s failure to buy sufficient insurance. An underinsured policyholder may only receive part of the cost of replacing or repairing damaged items covered in the policy.

UNDERWRITING
Examining, accepting, or rejecting insurance risks and classifying the ones that are accepted, in order to charge appropriate premiums for them.

UNDERWRITING INCOME
The insurer’s profit on the insurance sale after all expenses and losses have been paid. When premiums aren’t sufficient to cover claims and expenses, the result is an underwriting loss. Underwriting losses are typically offset by investment income.

UNEARNED PREMIUM
The portion of a premium already received by the insurer under which protection has not yet been provided. The entire premium is not earned until the policy period expires, even though premiums are typically paid in advance.

UNINSURABLE RISK
Risks for which it is difficult for someone to get insurance.

UNINSURED MOTORISTS COVERAGE
Portion of an auto insurance policy that protects a policyholder from uninsured and hit-and-run drivers.


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

Our Customer Feedback

Read More

Our latest blogs

  • Carrier
  • Carrier
  • Carrier
  • Carrier
  • Carrier
  • Carrier
  • Carrier
Guardian Insurance
888 Pleasant Hill Rd NW, Suite E
Lilburn, GA 30047
We at Guardian Insurance have been offering our customers tailored polices with the best coverage at the most affordable price. We service several areas such as the the Metro Atlanta area of Georgia.
We're here for you
Home Page/ About Us/ Contact Us/ Our Blog/ Join Our Newsletter/ Refer A Friend
Quick Help Links
Quote Forms/ Make a Payment/ Insurance Glossary
Icon Icon
Icon Icon Icon
Social Icon Social Icon Social Icon Social Icon
© Copyright. All rights reserved. Powered by Insurance Website Builder