Atlantic Insurance Group Resources:
At Atlantic Insurance Group, we’re firm believers in “knowledge is power.” We hope you’ll take a moment and explore the resources provided below. We look forward to the privilege to work with you to tailor an insurance program that truly meets your needs and provides you with sound coverage and peace of mind.
Glossary
There are currently 16 names in this directory beginning with the letter R.
Rated Policy
A policy issued at a higher premium to cover a person classified as a greater-than-average risk, usually due to impaired health or a dangerous occupation.
Rating Territory
A geographical grouping in which like hazards tend to equalize and permit the establishment of an equitable rate for the territory.
Re-Entry Option
An option in a renewable term life policy under which the policy owner is guaranteed, at the end of the term, to be able to renew his or her coverage without evidence of insurability, at a premium rate specified in the policy.
Refund
An amount of money returned to the policyholder for overpayment of premium or if the policyholder is due unearned premium.
Rental Reimbursement Coverage
Optional auto insurance coverage that pays a set daily amount for a rental car if the policyholder’s car is being repaired because of damage covered by the auto policy.
Renters Insurance
A form of property insurance that covers a policyholder’s belongings against perils. It also provides personal liability coverage and additional living expenses. Possessions can be covered for their replacement cost or the actual cash value, which includes depreciation.
Rents or Rental Value
A geographical grouping in which like hazards tend to equalize and permit the establishment of an equitable rate for the territory.
Replacement Cost
The dollar amount needed to replace damaged personal property or dwelling property without deducting for depreciation but limited by the maximum dollar amount shown on the declarations page of the policy.
Residual Benefit
In disability insurance, a benefit paid when you suffer a loss of income due to covered disability or if loss of income persists. The benefit is based on a formula specified in your policy and it is generally a percentage of the full benefit. It may be paid up to the maximum benefit period.