-
property
the stuff owned and for the most part it is tangible items that can be possessed
-
casualty or liability
the legal responsibility for damage that can be done to a third party's body or property
-
personal lines insurance
P&C policies that are written to cover the needs of an individual or family for their home, auto, boat, camper, and RV
-
commercial lines insurance
contracts designed to provide insurance for the needs of a business
-
insurance
transfer of an individual's risk to a company
-
insured
you and your family members
-
insurance company
the professional risk bearer, the other party in the contract
-
risk
chance of loss, uncertainty of loss, probability that loss will occur
-
loss
a way of putting a dollar value on the loss
-
mitigating risk or loss
several options in dealing with risk, avoid, reduce, retain, transfer
-
predetermined limit
the amount that the insurance policy will cover up to
-
insurable interest
the extent of your financial interest at the time of loss
-
exclusions
the losses that the insurance company will not cover
-
endorsements
covers holes or gaps in coverage of insurance policies
|
|
