Homeowner's and Renter's Insurance
1. Actual Cash Value – coverage that compensates loss at current cash value considering depreciation.
2. Attractive Nuisance – anything on your property that might attract children into danger or harm (swimming pool, trampoline, abandoned cars).
3. Depreciation – the reduction in the value of property as it gets older.
4. Endorsement – an amendment to an individual policy that reflects any changes to the standard policy.
5. Exclusion – the section of an insurance policy specifying the losses that are not covered.
6. Flood Insurance – insurance that covers damage caused by a flood.
7. Guaranteed Replacement Cost – the cost to replace a piece of property or rebuild a structure.
8. Homeowner’s Insurance – insurance that protects property owners in case of loss, loss of use, liability from the result of an injury.
9. Inflation guard clause - increases the policy coverage of homeowner's insurance each year based on the changes in building costs in your area.
10. Loss of Use – coverage that pays for living expenses while repairs are made to a home or rental property that is uninhabitable because of loss.
11. Natural Risks – occurrences homeowners face in their region of the country such as earthquakes, storms, and floods.
12. Peril – in homeowner's insurance, anything that results in a loss.
13. Personal Inventory – documentation of personal property that includes description, date of purchase, and purchase price.
14. Personal Liability – coverage that protects policyholders from claims or judgments made against them.
15. Renter's Insurance – insurance that protects tenants of a property owned by someone else against theft, property damage, loss of personal property, and loss of use.
16. Replacement cost - in homeowner's insurance, the current cost of replacing or rebuilding without any deduction for depreciation.
17. Schedule - to insure particular items, such as jewelry or art, for a specific value of their own.
18. Settlement recourse - they systematic process of disputing a settlement.
19. Umbrella Policy – liability insurance that can be added when a client's homeowner's or renter's and auto insurance are handled by the same insurer
1. Actual Cash Value – coverage that compensates loss at current cash value considering depreciation.
2. Attractive Nuisance – anything on your property that might attract children into danger or harm (swimming pool, trampoline, abandoned cars).
3. Depreciation – the reduction in the value of property as it gets older.
4. Endorsement – an amendment to an individual policy that reflects any changes to the standard policy.
5. Exclusion – the section of an insurance policy specifying the losses that are not covered.
6. Flood Insurance – insurance that covers damage caused by a flood.
7. Guaranteed Replacement Cost – the cost to replace a piece of property or rebuild a structure.
8. Homeowner’s Insurance – insurance that protects property owners in case of loss, loss of use, liability from the result of an injury.
9. Inflation guard clause - increases the policy coverage of homeowner's insurance each year based on the changes in building costs in your area.
10. Loss of Use – coverage that pays for living expenses while repairs are made to a home or rental property that is uninhabitable because of loss.
11. Natural Risks – occurrences homeowners face in their region of the country such as earthquakes, storms, and floods.
12. Peril – in homeowner's insurance, anything that results in a loss.
13. Personal Inventory – documentation of personal property that includes description, date of purchase, and purchase price.
14. Personal Liability – coverage that protects policyholders from claims or judgments made against them.
15. Renter's Insurance – insurance that protects tenants of a property owned by someone else against theft, property damage, loss of personal property, and loss of use.
16. Replacement cost - in homeowner's insurance, the current cost of replacing or rebuilding without any deduction for depreciation.
17. Schedule - to insure particular items, such as jewelry or art, for a specific value of their own.
18. Settlement recourse - they systematic process of disputing a settlement.
19. Umbrella Policy – liability insurance that can be added when a client's homeowner's or renter's and auto insurance are handled by the same insurer