Insurance glossary

O

Over insured

This is the trem employed to describe a situation whereby a person has taken out an insurance policy over and above the level of cover thata they actually need and will therefore be paying a higher premium level than actually required. An example of this could be if you over value the worth of you car.

Outbuildings

This means garages (detached or integral) sheds, greenhouses and other outbuildings which are situated within the boundaries of the land belonging to the home.

Owner

The legal owner of a vehicle This does not necessarily mean the person who runs, maintains or actually uses it.