Am I Liable
Covers injury or damages to other people or their property
What is Liability Insurance
A fee the policy holder pays the insurance company.
What is premium
If you have a loan or lease and your car is totaled, this endorsement pays the difference between the car's actual cash value and what you still owe.
What is Gap coverage.
The cost to replace damaged property with new property of similar kind and quality.
What is replacement cost
The two entities that the policy becomes the contract between
What are the insured and the insurer
A personal catastrophe policy that supplements your basic liability coverage
What is an Umbrella Policy
A type of contract that specifies the terms of insurance.
What is a policy.
Under most property insurance policies the policy territory includes
What is United States Puerto Rico and Canada
This policy provides the broadest coverage, often called "open perils" for both the dwelling and personal property.
What is an HO5
Putting a lapsed policy back in force
What is Reinstatement
An unexpected event or circumstance without deliberate intent.
What is a accident.
The legal process by which an insurance company seeks from a third party who may have caused the loss, recovery of the amount paid to the insured.
What is Subrogation
Arbella specific
A $10,000 death benefit will be paid to the beneficiary of an insured killed in an auto accident providing 1. The insured was wearing a safetybelt 2. All other occupants of insured vehicle were wearing a safety belt
What is Supplemental Death Benefit
This term describes a person related to you by blood, marriage, or adoption who is a resident of your household.
What is a family member
An incorrect statement made intentionally on an auto insurance application
what is Misrepresentation
The failure to take ordinary or reasonable care in a situation, making you legally liable for damages.
What is negligence
A binding dispute resolution tactic whereby a conciliator with no interest in the outcome intercedes.
What is Arbitration
The type of auto insurance that covers all physical damage losses except a collision
What is comprehensive
person or organization, such as a lender or landlord, listed on an insurance policy who holds a financial stake in the insured property but is not covered by the policy.
What is an additional interst
Decrease in the value of property over a period of time due to use, wear, tear, and obsolescence.
What is Depreciation
Covers minor injuries to guests, regardless of fault, to prevent lawsuits.
What is Medical Payments
This is the cause of a loss such as fire, windstorm or theft.
What is a peril
This endorsement does not apply to glass replacement or mechanical parts.
What is OEM Parts Coverage
covers hotel, rental, and food costs if a covered claim makes your home uninhabitable during repairs.
What is additional living expense
A type of company that is needed when a standard company will not write a policy
What is surplus Lines