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 10 names in this directory beginning with the letter U.
Umbrella Policy
Coverage for losses above the limit of an underlying policy or policies such as homeowners and auto insurance.
Underlying Coverage
The insurance or coverage in place on the same risk that will respond to loss before the excess policy is called on to pay any portion of the claim.
Underwriter
The person trained in evaluating risks, deciding whether to accept or reject an application for a policy, and determining rates and coverages for risks.
Uninsured/underinsured Motorist (um/uim) Coverage
Auto insurance coverage that pays for the policyholder’s injuries and, in some states, property damage caused by a hit-and-run driver or a motorist without liability insurance. It will also pay when medical and car repair bills are higher than the other driver’s liability coverage.
Universal Life Insurance
An interest-sensitive life insurance policy with flexible, adjustable premium payments, that builds cash values.
Usage
Refers to the primary function or purpose in which you intend to operate your vehicle. For example, if you primarily drive your car to and from work, the usage is considered “commute”; if you are self-employed and you primarily drive to see customers, the usage is considered “business.”
Usual and Customary Fees
Charges for medical services that refer to the amount approved by the carrier for payment. These charges may be based on rates usually charged by physicians and providers in your area; rate averages compiled by independent rating services; or rate averages compiled by the insurance company.