COMMERCIAL VALUE
It is the value that the insured good would have in the market should its owner wish to deal with or sell it at the claim date.

CANCELLATION
It is one of the causes of the contract ceasing to have effect: a legal mechanism under which the contract can be terminated, but only from the date on which the event that caused the cancellation occurred, and never with a retroactive effect; therefore, the Insurer should return any premiums received proportionally to the period of time still to run up to the next date the next premium is due. Any reason proposed as a justification for such cancellation shall be assessed in legal or contractual terms, and notice of the said reason shall be given by one party and accepted by the other. This is different from "Nullity" which has a retroactive effect, from the date the agreement was originally signed; furthermore, this makes void every effect that the policy might have had, but the Insurer may still in certain cases have the right to retain any premium already paid.

Change
Change to the initial contract to adjust it to new circumstances. The change request made by the Insured may be accepted or turned down by the Insurer, or lead to an adjustment to the premium conditions. If accepted, changes shall give rise to an amendment to the agreement subject to additional memoranda being issued.

CERTIFICATE
A document issued by the Insurer upon acceptance of the risk which proves that the Insurance policy has been issued. Motor Vehicle Insurance Mediation and Arbitration Information Centre (Centro de Informação, Mediação e Arbitragem de Seguros Automóveis), set up in partnership between the Government, Portuguese Insurers Association (APS), Portuguese Consumer Defence Association (DECO) and Automobile Association (ACP), whose aim is to promote across the country a system for quick and effective settlement of disputes arising from motor vehicle accidents involving pecuniary damages only, up to three vehicles and without criminal liability.

CLAUSE
Article or condition in an Insurance Policy that sets forth the parties' rights and/or obligations.

COVER
A set of cases or events that are provided for/covered in the policy. Should any of those cases or events actually occur, under the circumstances set forth therein, the Insurer should be called upon to pay the relevant compensation.

CLAIM
Event or a series of events resulting from the same cause that is likely to trigger indemnities due under one or more insurance agreements.