Occurrence

More claims & insurance terms

• 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.

• Notice of claim

  The insured's report to the carrier that a loss happened, which starts the clock on the policy's duties for both sides. Prompt notice is a policy condition, and late notice can be raised as a reason to deny, though how strictly that is enforced varies by state and carrier.

• 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.

• Personal property

  Coverage for the contents of the home, as opposed to the building itself.

Common questions