Insurance Definitions

4. Typically used for rental properties
6. The insurance company
8. The date on which an insurance policy becomes active
13. The portion of your home insurance policy that covers the cost of replacing your possessions, sometimes referred as "Coverage C"
15. Best type if insurance policy for single family homes and both dwelling and contents are all risk
16. The person covered by an insurance policy

1. Most common type of policy for homeowners insurance where the dwelling is covered at all-risk while contents are covered as named perils
2. The cost associated with replacing personal property at current market price
3. A person who reviews and evaluates an application for the insurance
4. A decrease in value of property or belongings
5. The amount sought through an insurers claim
7. Sometimes referred to as "Coverage F" and will cover the medical costs if someone is injured on your property and does not want to sue you
9. The amount paid by the insurer or lender to the insurance company to obtain or maintain insurance
10. Usually for Condo or Townhome homeowners and does not cover the exterior of the unit
11. Typically used when renting a residence and does not include coverage on the structure
12. Refers to a specific risk or cause of loss covered by an insurance policy such as fire, hail, or theft
14. Coverage on a policy that usually provides a benefit over and above the dwelling policy limits to protect the policyholder from inflaterion in building costs, abbreviation for extended replacement cost