Insurance Glossary
Indemnity
What is indemnity?
Indemnity is the principle that insurance puts you back in the financial position you were in before the loss - no better, no worse. It underlies how claims are settled.
Example
The payout indemnified her for the stolen laptop's replacement value, minus excess.
Related insurance terms
Ready to compare cover?
Now that you know the lingo, get a free quote and see how much you could save.
Get a Quote Now