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Insurance Glossary

Plain-language definitions of 56 property and casualty insurance terms. Understand your policy. Know your rights.

A B C D E F G H I L N O P R S U W

A

Actual Cash Value (ACV)Additional Insured Additional Living Expenses (ALE)Adjuster Auto Insurance

B

Binder Bodily Injury Business Interruption Business Owners Policy (BOP)

C

Cancellation Certificate of Insurance (COI)Claim Coinsurance Collision Coverage Comprehensive Coverage Coverage Gap

D

Declarations Page Deductible Depreciation Dwelling Coverage

E

Employers Liability Endorsement Exclusion Experience Modification Rate (EMR)Extra Expense

F

Flood Insurance

G

General Liability

H

Homeowners Insurance

I

Insurable Interest

L

Liability Loss of Use Loss Ratio

N

Named Insured National Flood Insurance Program (NFIP)Non-Renewal

O

Other Structures Out-of-Pocket Maximum

P

Peril Personal Injury Personal Property Policy Period Premium Public Adjuster

R

Renewal Replacement Cost Rider Risk

S

Settlement Sub-Limit Subrogation Surplus Lines

U

Umbrella Insurance Underinsured Underwriting Uninsured/Underinsured Motorist Coverage

W

Workers Compensation

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