Home Insurance Definitions

Home Insurance covers the reparation of damages caused by disasters in a home. Standard insurance coverage may exclude disasters like flood and earthquake in certain geographical areas. There are, however, some countries that offer packages that can cover injuries and property damages caused by pets and other members of a household. To understand home insurance better, here are some common definitions.

Abandonment Clause
Additional Living Expense Insurance
Actual Cash Value
Appreciation
Assessed Value
Blanket Insurance Policy
Cash Value
Condo Insurance
Direct Loss or Damage
Earthquake Insurance
Earth Movement
Fire Legal Liability
Flood Insurance
Hazard Insurance
Mobile Home Policy
Mortgage Clause or Mortgagee Clause
Multiple Location Policy
Peril
Personal Property Floater
Personal Property
Property Damage
Red – Lining
Residence Premises
Salvage Corps
Schedule
Single – Interest Policy
Stated Amount
Valued Policy
Water Damage Clause
Water Damage Insurance