Allianz Northern Ireland

Glossary of Terms

by Martin McRandal | 2 min read

March 23rd, 2018

At Allianz, we realise that insurance can sometimes be complicated. This is why we've created this Glossary of Terms where insurance terminology is simplified and explained for you.

Principles of Insurance

Your policy of insurance is a contract. You pay the agreed premium. In return your insurer provides the insurance cover for a defined period of time.

The Principles of Insurance are basic rules which apply to insurance contracts. They include the following:

About the author

bio image for Martin McRandal
Martin McRandal

Business Owner, Consultant and Expert Witness. Former Motor and Property Insurance Underwriter.