Coverage Path
Quantum Home 2.0
Insurance Terms
100

Confirming this, is the first step in creating a coverage path.

What is people?

100

The HQ-P03 CW (05-17) is a policy specific to this type of customer.

What is a homeowner?

100

This term is also known as the total cost. 

What is Replacement Cost Value?
200

This will need to be confirmed to determine if the loss falls within the policy period.

What is the date of loss?

200

Coverages A and B have this type of Peril Insured Against.

What is open peril? 

200

This term is also known as the event that caused the damage.

What is Peril? 

300

Knowing this will help determine if damages to Coverage A, B, or C were damaged by a peril insured against.

What is the cause of loss? 

300

Coverage C is settled at this. 

What is Actual Cash Value? 

300

This changes the base policy form language. 

What is an endorsement?