Reference guide
Insurance Glossary
Plain-language definitions of common insurance terms across policies, coverage, and claims. Check your policy or plan documents for the terms that apply to you.
Find an insurance term
Showing 22 of 22 matching terms
Terms beginning with W
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Waiting period
Health insurance - The period that must pass before coverage or a particular benefit becomes available under a plan’s rules.
- Also called: eligibility waiting period
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Waiver of collision deductible
Auto insurance - An optional provision that may waive a collision deductible after a covered accident caused by an uninsured driver, subject to state and policy rules.
- Also called: collision deductible waiver
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Waiver of subrogation
Business insurance - A provision or endorsement that waives an insurer’s right to seek recovery from a specified party after paying a covered loss.
- Also called: subrogation waiver
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Water backup coverage
Home insurance - Optional coverage for certain damage caused by water backing up through sewers or drains or overflowing from a sump.
- Also called: sewer backup coverage
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Water backup endorsement
Auto insurance - Optional coverage for water damage caused by sewer, drain, sump, or related backup, subject to its limit and exclusions.
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Water damage
Home insurance - Damage caused by water, for which coverage depends on the source of the water and the policy’s exclusions and endorsements.
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Wellness program
Health insurance - An employer or health plan program intended to promote health or prevent disease, subject to applicable rules.
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Wellness visit
Health insurance - A preventive health visit that may include risk assessment, health planning, and screening discussions under plan rules.
- Also called: preventive visit
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Whole life insurance
Life insurance - Permanent life insurance designed to provide coverage for life while required premiums are paid, subject to policy terms.
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Wind and hail deductible
Home insurance - A separate deductible that may apply to covered wind or hail losses under a home policy.
- Also called: wind/hail deductible
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Windstorm deductible
Auto insurance - A separate deductible for wind or hurricane losses, often expressed as a percentage of insured value in some areas.
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Windstorm insurance
Home insurance - Coverage for qualifying wind or hail damage, sometimes written separately in areas where standard home policies restrict the peril.
- Also called: wind and hail coverage
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Workers compensation class code
Business insurance - A classification assigned to work performed by employees that insurers use to help determine workers compensation premium.
- Also called: workers comp class code
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Workers compensation exclusive remedy
Business insurance - A legal principle that generally makes workers compensation benefits the main remedy for covered workplace injuries, subject to exceptions.
- Also called: exclusive remedy doctrine
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Workers compensation experience modification
Business insurance - A factor that adjusts workers compensation premium based on an employer’s loss experience compared with similar employers.
- Also called: experience mod, EMR
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Workers compensation payroll audit
Business insurance - A review of payroll and classification records used to adjust workers compensation premium to actual exposure.
- Also called: workers comp audit
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Workers compensation state fund
Business insurance - A state-operated or state-supported insurer that may provide workers compensation coverage in a state’s insurance market.
- Also called: state workers comp fund
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Workers compensation waiting period
Business insurance - A period that may pass before wage-loss benefits begin after a covered workplace injury, subject to state rules.
- Also called: workers comp waiting period
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Workers’ compensation
Business insurance - Insurance that may provide benefits for employees with work-related injuries or illnesses, according to applicable rules and policy terms.
- Also called: workers comp
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Workplace violence coverage
Business insurance - Coverage that may pay defined response, counseling, security, or business interruption costs following a covered workplace violence event.