Coverage, or more specifically insurance coverage, is the amount of protection in terms of a sum of money that an insurance company provides to an insured person whereby, in the event of risk or risks insured against take place, such as death or accident, the policyholder or a designated ben...
Insurance Coverage for Various Types of Risk from Chapter 21 / Lesson 3 31K In the business world, there are various types of risk, which can be covered by different types of insurance. In this lesson, dive into the definitions of different types of insurance coverage, including casualty c...
Hurricane insurance usually refers to an extra deductible on a homeowners policy that specifically covers hurricane-related damage in high-risk areas.
An insurer is a company selling the insurance; an insured, or policyholder, is the person or entity buying the insurance policy. The insurance rate is a factor used to determine the amount to be charged for a certain amount of insurance coverage, called the premium. Risk management, the prac...
Basically, if you can get full coverage insurance at a good rate, go for it. Liability is amust, and you need decent auto coverage in general. If your state also requires you to have other coverages like uninsured/underinsured motorist coverage or PIP, then you’ll also need to add thos...
It is packaged with your homeowners,renters, or dwelling insurance policy. Most personal insurance policies include this coverage, which is also called "comprehensive personal liability." It is purchased as a stand-alone policy—often by individuals who do not own or rent physical property (and so...
With FDIC insurance, your money held in a bank is protected by the federal government if your bank fails. But there are coverage limits. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or...
Homeowners Insurance Definition Homeowners insurance is a type ofproperty insurancethat helps pay for your home to be rebuilt or repaired and your possessions replaced if these are damaged in a covered event like an accident, natural disaster or fire. It will also pay for medical bills and lawsui...
Is full coverage auto insurance required? If you lease your car or bought it with a loan, your lender or leasing company may require comprehensive coverage and collision coverage. Lenders have a financial stake in your vehicle and generally require these coverages, which when paired together start...
These are the basic coverage types included in a full coverage auto policy. It’s important to keep in mind, though, that “full coverage” is not an industry-standard term. This means that the definition of full coverage may vary. Eachcar insurance company— and even different agencies —...