Insurance Acronyms & Abbreviations — The Shorthand Decoded

# Insurance Acronyms & Abbreviations — The Shorthand Decoded

Insurance runs on abbreviations, and they're easy to forget. This is the quick-lookup reference for the letters you'll see on quotes, dec pages, certificates, and claim paperwork. BNW Services LLC, doing business as InsureToday24, is a licensed independent agency serving Missouri and Kansas — if an acronym on your paperwork isn't here, call or text Lucy at (573) 594-5148 and we'll decode it.

For full definitions, follow the links into the A–G, H–O, and P–Z glossary files.

Value & Settlement

• ACV — Actual Cash Value (replacement cost minus depreciation).
• RCV — Replacement Cost Value (new, without depreciation).
• GRC — Guaranteed Replacement Cost.
• FMV — Fair Market Value.
• TIV — Total Insured Value.

Limits & Deductibles

• PP — Personal Property.
• BI — Bodily Injury (liability).
• PD — Property Damage (liability).
• CSL — Combined Single Limit (one liability limit for BI and PD together).
• SIR — Self-Insured Retention.
• OOP — Out-of-Pocket.
• AOP — All Other Perils (the base deductible, as opposed to a separate wind/hail deductible).

Auto

• UM / UIM — Uninsured / Underinsured Motorist.
• PIP — Personal Injury Protection.
• MedPay — Medical Payments coverage.
• OEM — Original Equipment Manufacturer (parts).
• VIN — Vehicle Identification Number.
• SR-22 / FR-44 — A state-filed certificate proving required financial responsibility (an attestation of coverage, not a type of insurance).

Home & Property

• HO-3 / HO-5 / HO-4 / HO-6 — Standard homeowners policy forms (HO-4 = renters, HO-6 = condo).
• DP — Dwelling Policy (dwelling fire).
• ALE — Additional Living Expenses (loss of use).
• O&L — Ordinance or Law.
• NFIP — National Flood Insurance Program.

Commercial

• GL — General Liability.
• CGL — Commercial General Liability.
• BOP — Business Owner's Policy.
• BI/EE — Business Income / Extra Expense.
• WC — Workers' Compensation.
• E&O — Errors & Omissions (professional liability).
• D&O — Directors & Officers liability.
• EPLI — Employment Practices Liability Insurance.
• COI — Certificate of Insurance.
• AI — Additional Insured.
• WOS — Waiver of Subrogation.
• E&S — Excess & Surplus lines (non-admitted markets).
• EMod / XMod — Experience Modification factor (workers' comp rating).

Life & Health-Adjacent

• ADB — Accidental Death Benefit (or Accelerated Death Benefit, by context).
• WOP — Waiver of Premium.
• TPD — Total & Permanent Disability.
• LTC — Long-Term Care.
• UL / IUL / VUL — Universal / Indexed Universal / Variable Universal Life.

Process & Parties

• Dec / Dec Page — Declarations page.
• NAIC — National Association of Insurance Commissioners.
• III — Insurance Information Institute.
• CAT — Catastrophe (a large, widespread loss event).
• DOI — Department of Insurance (state regulator).
• P&C — Property & Casualty.
• A&H — Accident & Health (a licensing line — note: BNW is not licensed for A&H; see the Health Insurance Terminology file).

A Note on Policy Forms

Homeowners "HO" numbers and dwelling "DP" numbers refer to standardized policy *forms* that set the baseline coverage. The higher-tier forms (like HO-5) generally offer broader, open-peril coverage; lower ones are named-peril. Exact form availability and language vary by carrier and state, so always confirm the form shown on your own declarations page.

Where to Verify

The NAIC (naic.org) and Insurance Information Institute (iii.org) maintain glossaries that spell out these abbreviations. State-specific questions in Missouri go to the Department of Commerce & Insurance (insurance.mo.gov) and in Kansas to the Kansas Insurance Department (insurance.kansas.gov).

Further Reading

• NAIC Consumer Insurance Glossary — https://content.naic.org/consumer/insurance-glossary
• Insurance Information Institute Glossary — https://www.iii.org/toolkit/glossary
• Investopedia — Insurance Terms — https://www.investopedia.com/insurance-4427716
• III — Homeowners Policy Forms — https://www.iii.org/article/what-are-different-types-homeowners-insurance-policies
• Missouri DCI Consumer Resources — https://insurance.mo.gov/consumers/

References

1. National Association of Insurance Commissioners — https://www.naic.org

2. Insurance Information Institute — https://www.iii.org

3. Investopedia — https://www.investopedia.com

4. Missouri Department of Commerce & Insurance — https://insurance.mo.gov

5. Kansas Insurance Department — https://insurance.kansas.gov

Related

• Insurance Glossary A–G
• Insurance Glossary H–O
• Insurance Glossary P–Z
• Coverage Types Across All Lines
• Health Insurance Terminology (Educational Reference)

Watch

• "Insurance Abbreviations and Terms" — Think Insurance (YouTube): https://www.youtube.com/@ThinkInsurance
• "Insurance Vocabulary Explained" — Investopedia (YouTube): https://www.youtube.com/@investopedia