· Resources: Insurance Terms Glossary

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     F

     First Party Benefits - This pays policyholders and others covered by the policy in the event of injury, no matter who caused the accident. The benefits can include medical expenses, loss of income, funeral and death benefits. This may also be called Personal Injury Protection.

     G

     Gap Insurance - If you are making lease or loan payments and you experience a total loss, there may be a difference (gap) between the market value of your vehicle and what you still owe on it. This optional coverage pays the difference.

     Good Student Discount - A premium discount for students with high scholastic grades. Some statistical research has shown a relationship between good grades and safe driving.

     H

     I

     ID Card - An identification card issued by your insurance company that provides evidence of liability insurance. Such evidence is required by law in Illinois and most other states.

     Insured - a person who has obtained health insurance coverage under a health insurance plan.

     J

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