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An A–Z insurance knowledge center

Search plain-language definitions, then confirm meaning in the actual policy because terms can vary.

Actual Cash Value

A valuation approach that may account for depreciation when settling covered property losses.

A person or organization added to certain policy protections by endorsement, subject to its wording.

The most a policy may pay for specified covered claims during a policy period.

Temporary evidence of insurance pending issuance of the policy, subject to its terms and expiration.

Coverage that may respond to covered claims alleging injury to others.

A package policy that may combine property and liability coverages for eligible businesses.

A request for coverage or payment under a policy after a loss or alleged liability.

Either percentage cost-sharing in health insurance or a property-insurance condition requiring a stated amount of insurance.

Auto physical-damage coverage for many non-collision causes of loss, subject to deductible and exclusions.

The amount the insured generally pays before covered claim payment.

A document that changes, adds, or removes policy terms.

A provision that removes or limits coverage.

The maximum amount the policy may pay for covered liability, subject to policy structure and terms.

The amount charged for insurance coverage.

A valuation method based on replacing damaged property with similar property, subject to policy conditions.

The insurer’s process for evaluating risk, eligibility, terms, and price.

Beginner guides

Confirm names, addresses, vehicles, locations, limits, deductibles, and effective dates.

Identify what changed from the base form and which optional coverages apply.

Use checklists to discuss exclusions, sublimits, valuation, and changing exposures.