Deductible:
That portion of a covered loss which is borne by the insured.
Dwelling:
This is the main residential structure which is located on the property, including structures attached to the dwelling such as a garage.
Endorsements:
A provision added to an insurance policy to modify its coverage.
Insurance Policy:
A contract of insurance between an insurer and an insured.
Loss of Use:
Coverage that compensates the insured for the loss of use of the property if it cannot be used because of a peril covered by the policy.
Named Perils Coverage:
Coverage of losses which result from causes explicitly listed in the policy.
Other Structures:
Structures that are separated from an insured dwelling by a clear space, or are connected only by a fence or utility line.
Personal Property:
Any tangible property of an insured other than real property.
Premium:
The price of insurance coverage for a specified risk during a specified period of time.
Replacement Cost:
The cost to repair or replace an insured item without any deductions for depreciation.
