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Car and House

Personal Insurance

We provide a full range of coverages for your personal insurance needs. From the first time buyer, to high valued homeowner, automobiles, and umbrellas. We will review, quote, and secure coverages for your needs.

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Business

Commercial Insurance

From the initial startup company to the publicly traded corporation, we will review, quote, and secure coverage for your business. We have found that transferring risk to an insurance company is often the most efficient way to protect your corporate assets and human resources.

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Medical

Health & Life Insurance

Protect the ones you love the most with the proper coverage for your needs. Everyone’s needs are unique and finding secure coverage can be stressful. Whether you want to cover your family, yourself or the people who help your business going, we’ll find the right plan for you.

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Insurance Glossary

Insurance terms and definitions from Sweet and Baker Insurance Brokers, Inc.


Coverages and benefits listed below may not be available in your state. If available, some optional coverages and benefits might be offered at an additional charge. Contact Sweet and Baker Insurance Brokers, Inc. today to learn more.
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
VALUED POLICY
A policy under which the insurer pays a specified amount of money to or on behalf of the insured upon the occurrence of a defined loss. The money amount is not related to the extent of the loss. Life insurance policies are an example.

VANDALISM
The malicious and often random destruction or spoilage of another person’s property.

VARIABLE ANNUITY
An annuity whose contract value or income payments vary according to the performance of the stocks, bonds and other investments selected by the contract owner.

VARIABLE LIFE INSURANCE
A policy that combines protection against premature death with a savings account that can be invested in stocks, bonds, and money market mutual funds at the policyholder’s discretion.

VIATICAL SETTLEMENT COMPANIES
Insurance firms that buy life insurance policies at a steep discount from policyholders who are often terminally ill and need the payment for medications or treatments. The companies provide early payouts to the policyholder, assume the premium payments, and collect the face value of the policy upon the policyholder’s death.

VOID
A policy contract that for some reason specified in the policy becomes free of all legal effect. One example under which a policy could be voided is when information a policyholder provided is proven untrue.

VOLATILITY
A measure of the degree of fluctuation in a stock’s price. Volatility is exemplified by large, frequent price swings up and down.

VOLCANO COVERAGE
Most homeowners policies cover damage from a volcanic eruption.

VOLUME
Number of shares a stock trades either per day or per week.


NOTICE: These glossary definitions provide a brief description of the terms and phrases used within the insurance industry. These definitions are not applicable in all states or for all insurance and financial products. This is not an insurance contract. Other terms, conditions and exclusions apply. Please read your official policy for full details about coverages. These definitions do not alter or modify the terms of any insurance contract. If there is any conflict between these definitions and the provisions of the applicable insurance policy, the terms of the policy control. Additionally, this informational resource is not intended to fully set out your rights and obligations or the rights and obligations of the insurance company, agent or agency. If you have questions about your insurance, you should contact your insurance agent, the insurance company, or the language of the insurance policy.

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Glossary content provided by Insurance Information Institute.

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Sweet & Baker Insurance Brokers
44 Second Street
San Francisco, CA 94105 - 3440
Phone: (415) 512-2100
Fax: (415) 512-1115
M-F 9am-5pm
License# 0B60897
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