Notice of claim

More claims & insurance terms

• Named peril

  A specific cause of loss listed in the policy, such as fire, wind, hail, or theft. A named-peril policy pays only for the perils it lists, while an open-peril policy covers everything except what it excludes, so knowing which form the insured has changes what you can claim.

• Named storm deductible

  A separate deductible, often higher, that applies when damage comes from a storm the policy defines as a named storm, such as a tropical storm or hurricane. It is often a percentage of the dwelling limit instead of a flat amount, so the policyholder's share is far larger. Exactly what triggers it is set by state rules and the policy wording.

• Occurrence

  The event that causes a loss, such as a hail storm or a burst pipe, and the unit most policies use to apply limits and deductibles. One storm can be one occurrence for many homes, and how occurrences are counted decides whether a loss is paid or capped.

• Other structures

  Coverage for detached buildings on the property, like a garage or a shed.

• Peer review (insurance)

  A second look at a claim file or estimate by someone other than the adjuster who wrote it, often a reviewer, engineer, or consultant hired by the carrier. It can confirm the scope or cut it, and the contractor's best answer is documentation: photos, measurements, codes, and a written justification for each disputed line.

• Percentage deductible

  A deductible set as a percentage of the dwelling's insured value rather than a flat dollar amount, common on wind and hail policies in some states. It is calculated from the Coverage A limit, so a higher insured value means a bigger out-of-pocket share.

Common questions