An extra charge for an alteration, during the policy period, which increases the hazard or the insurance company’s liability. For example, if you installed a wood stove in your home, you would be charged an additional premium.

Coverage applicable when an insured’s dwelling is damaged by an insured peril to such an extent that one cannot live in it until repaired. This insurance pays the extra amount it costs to live elsewhere until repairs are made, such…

A person other than the named insured who is protected by the terms of the policy. Most automobile policies, for example, insure a specific individual as an insured, but also insure anyone driving with that insured’s consent. The additional insured…

A certified professional who specializes in mathematics of insurance and evaluates statistical information to determine rates and risks.

The fair market value of property taking into account factors that might augment or reduce the value of the property in question.

This coverage can protect a business owner if he or she is unable to collect outstanding balances as a result of lost or damaged account records.

An event that happens by chance and is not expected in the normal course of events, which results in harm to people, damage to property or equipment, or a loss of process or productivity.

The part of auto insurance that provides medical care and income replacement benefits to insured persons injured in a car collision, regardless of who caused the accident. In some parts of the country, this is referred to as “Section B.”

The liability of a wrongdoer’s automobile insurance company to pay someone harmed by the wrongdoer, even if the wrongdoer has violated the terms of the insurance policy, for example, by driving with an expired license. This is subject to a…