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insurance terms that start with ‘b’


A benefit is the amount paid by a car insurance company to you or your beneficiary when you file a car insurance claim.


Betterment is the act of property improvement. This term is often used in referencing changes made to a home, such as repairing a damaged roof, that increase its value and insurability.

See also: home insurance


As a temporary authorization of insurance, a binder shows that coverage is in place (bound) for a specific amount of time, usually between 30 to 60 days. It will be replaced by a declarations page when the policy is issued.

When a policyholder requests a car or home loan, the loan company typically requires proof of insurance — which can be provided in the form of a signed binder.

Boat insurance

Boat insurance (also known as marine insurance) is insurance that you can buy for your boat, fishing boat, bass boat, sailboat, pontoon, houseboat, mini jet boat, or cabin cruiser. A boat insurance policy can cover roadside assistance, on-water towing and labor, total loss replacement, water skis, and personal effects replacement.

See also: personal watercraft insurance

Related link

Boat and PWC insurance quotes

Bodily injury liability coverage

Bodily injury liability coverage protects you if you're held responsible for injuring someone in a car accident.

This coverage can help pay for the injured party's medical expenses and lost wages, and may also help pay your expenses in a related lawsuit. The amount covered is capped at the limits you select when you buy your car insurance policy.

See also: liability

Related link

What is bodily injury coverage?

Body shop

A body shop (also known as a repair shop or auto body shop) is an establishment dedicated to repairing vehicles. Body shops often employ mechanics and other types of automotive experts to offer a range of vehicle repair services.

See also: RepairView®, adjuster, claim, aftermarket parts

Related links

Esurance RepairView®
Find a repair shop

Brass era

Brass era refers to the period when all cars' metal fixtures were made of brass. Built on or before 1915, brass era vehicles represent the oldest sub-class of antique cars.

See also: collector cars, antique cars, classic cars

Related link

Collector and classic car insurance

Broad form

Broad form (also known as broadest insurance or broadform insurance) is an insurance policy that covers you and/or your property against every possible peril allowed by the insurer.

See also: peril, named peril, open peril

Broadform collision coverage

Broadform collision coverage is available in Michigan.

Broadform works like standard collision coverage, but also pays for collision damage to your insured car when you're not the at-fault driver. In other states, this damage may be covered under property damage liability insurance.

Although this car insurance coverage will pay up to your car's actual cash value regardless of fault in an accident, you'll be responsible for the deductible amount you select if you're found to be more than 50 percent responsible for the accident. If you're less than 50 percent responsible, you won't have to pay this deductible.

See also: collision coverage, actual cash value


A broker (also known as an insurance broker, independent insurance agent, or independent agent) is an independent insurance professional who helps clients obtain coverage that suits their needs by comparing offerings from multiple insurance companies. Rather than endorsing any particular company, a broker represents the consumer. A broker is knowledgeable in the practices and types of insurance offered by the companies he or she works with.

See also: agent, specialist


Bundling (also known as combining policies) is the act of obtaining multiple types of insurance from the same company. Examples include combining homeowners and car insurance, or life, health, and home insurance. Because of multiple-policy discounts, bundling can result in substantial savings for the policyholder.

See also: home insurance, car insurance

Related link

Car insurance discounts

Business use

See commercial use.