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Claim: A demand to recover a loss protected by an insurance policy.
Coverage: A synonym for insurance indicating how much protection the insurance provides. This may mean either the dollar amount purchased or the type of loss covered.
Deductible: The amount of money the policyholder agrees to pay toward the total amount of an insured loss.
Exclusion: An event or loss that an insurance policy does not cover.
Homeowners insurance: Financial protection for your home and belongings.
Insurer: A company that provides insurance.
Liability: Legal obligations resulting from negligent acts resulting in property damage or bodily injury.
Libel: Any false or malicious written or printed statement that publicly ridicules someone or damages their reputation.
Loss: The dollar amount of an insurance claim or the basis upon which a claim is submitted.
Negligence: Carelessness or the habit of failing to use a reasonable amount of care when such a failure could result in an injury or damage to another.
Peril: The cause of a loss that is insured by the policy.
Policy limit: The most money the insurance company agrees to pay for a specific loss.
Premium: The amount of money you pay to the insurance company in return for insurance protection.
Slander: Anything spoken about an individual that is false and malicious that ridicules them or damages their reputation.
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Insurance Services - Homeowners Insurance