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Gap Coverage

Gap insurance closes the gap between what your auto insurance company thinks your car is worth (if your car is stolen or totaled) and what you owe the finance company.

Garage Coverage Form

A coverage form that is part of the Commercial Auto Coverage Part and which provides coverage for garage businesses (dealers, service stations, garages, parking lots, etc.). Includes coverage for liability, physical damage and garagekeepers losses arising out of owned, nonowned and hired autos.

Garagekeepers Liability

A coverage which is part of the Garage coverage form. Covers a garage risk's legal liability for customers autos in the care, custody or control of the garage. At the insured's option, can also apply without regard to fault, for an additional premium.

General Average

An Ocean Marine term used to indicate a partial loss resulting from a sacrifice of cargo to save remaining property (jettison). Each party shares in the loss in proportion to their total interest in property being transported.

General Liability

A category of insurance which includes most of a business's liability exposures. Exposures covered include premises and operations, products and completed operations, contractual liability, and contingent liability.

Glass Coverage Form

One of the Commercial Property forms that can be included in the Commercial Package policy. Includes glass specified in a schedule and may include the value of lettering or ornamentation on the glass.

Grace Period

In Health insurance, a period during which the policy will remain in force, if unpaid by the premium due date. Florida law specifies the required length of the grace period.

Group Insurance

A policy issued to cover more than one person or interest, such as group life or hospitalization on all employees of a firm.

Guaranteed Renewable

A Health insurance policy provision that states that the insurer must renew the policy to a certain age. While the company cannot fail to renew the policy until the specified age, it can increase the premium.