Auto Insurance terms starting with R

4 terms

1. Reinstatement The process by which a life insurance company puts a policy back in force after it lapsed because of nonpayment of renewal premiums.
2. Rental Reimbursement Coverage This coverage pays - up to a defined amount - your expenses to rent a vehicle if you have a loss covered under comprehensive or collision benefits.
3. Rental Reimbursement/Transportation Expenses An optional policy benefit that pays the rental fee (usually $15 to $20 per day) if you must rent a vehicle for a reasonable time while your vehicle is…
4. Rider A written agreement attached to the policy expanding or limiting the benefits otherwise payable under the policy. Same as an "endorsement."