Policy Basics
This document outlines limits as well as what your insurance covers & excludes.
What is a policy?
This type of policy protects a residential property.
What is homeowners insurance policy?
This is what you do after a loss to request payment from an insurance company.
What is file a claim?
The act of transferring risk from a person to an insurer.
What is insurance?
This U.S. agency backs flood insurance.
What is FEMA?
This term describes the maximum the insurer will pay on a policy.
What is policy limit?
Coverage that pays for damage to your car from theft or weather.
What is comprehensive coverage?
This is the amount of money that is paid out of pocket before your insurance kicks in.
What is a deductible?
This term refers to having multiple policies with one insurance company.
What is bundling?
Some insurance companies will not insure your home if you have a dog of certain breeds.. Name 1 of the breeds
What is Pit Bull Terriers, Rottweilers, German Shepherds, Akitas, Doberman Pinschers, Presa Canario, Bull Mastiff, American Staffordshire Terrier and Chow Chows?
The amount you pay to keep coverage active.
What is a premium?
This type of coverage on the homeowners policy pays for a place for you to stay if your home is uninhabitable due to a covered claim.
What is loss of use coverage?
Filing multiple claims in a short period of time may lead to this...
What is a non-renewal?
This is the period of time that you go without insurance coverage.
What is a lapse?
This type of coverage on your auto policy covers you if the at-fault driver does not have an active insurance policy.
What is uninsured motorist coverage?
The person who owns the policy.
Who is the Named Insured and/or policyholder?
This type of coverage on the homeowners policy provides protection if your dog bites someone.
What is liability coverage?
This party investigates filed claims and determines payout amounts.
Who is a claims adjuster?
A rider if another term for this policy addition.
This personal item is often only covered up to $1,500 unless you add a special endorsement.
What is jewelry?
If you lie or withhold facts on your application, your policy could be...
What is voided and/or denied?
This type of policy provides coverage for a residential property that is rented out.
What is a dwelling fire policy?
Most standard homeowners insurance policies do NOT cover damage from these TWO natural events.
What is flood & earthquake?
This term refers to an agreement where one party agrees to compensate another party for a specific loss or liability. Think of it as being "made whole" after experiencing a financial setback due to a particular event or situation.
What is indemnity?
If you have a pool on your property, most insurance companies have these TWO requirements to be eligible for coverage?
What is a 4 ft fence & self latching gate?