Okuzeka
Insurance vocabulary · Motor Insurance

Comprehensive insurance

Meaning in insurance, with examples

nounCore term

In insurance, comprehensive insurance means: Car insurance that pays for damage to the insured vehicle itself, for example from a collision, theft, fire or natural events.

In Turkish: kasko, kasko sigortası

How it is used

Often shortened to 'comp' or 'fully comp' in the UK. Customers choose comprehensive insurance for new or financed cars, and lenders usually require it. Related terms: deductible, no-claims bonus, total loss and courtesy car.

Example sentences

  1. The bank won't release the car loan until you show proof of comprehensive insurance.

  2. Comprehensive insurance paid for the repairs after the hailstorm damaged the roof of the car.

Common collocations

  • fully comprehensive
  • comprehensive car insurance
  • comprehensive cover
  • comprehensive policy
  • car insuranceInsurance for a car and its driver that covers damage to other people and their property and, depending on the policy, damage to the car itself.
  • third-party insuranceInsurance that pays for injury or damage you cause to other people and their property, but not for damage to your own vehicle.
  • deductibleThe part of each loss that the customer pays before the insurance company starts paying. A higher one usually means a lower premium.
  • no-claims bonusA discount on the premium given to policyholders who have not made a claim, which usually grows with each claim-free year.
  • total lossA situation in which insured property, especially a vehicle, is destroyed or so badly damaged that repairing it would cost more than it is worth.

More terms: Motor Insurance

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This page explains English vocabulary for learners. It is not financial advice.