Percentage deductible

More claims & insurance terms

• 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.

• Personal property

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

• Policy

  The insurance contract that spells out what is covered, the limits, and the deductible.

• Policy endorsement

  A written change added to an insurance policy that alters its coverage, such as adding a water backup limit, changing the deductible, or scheduling a valuable item. Endorsements control over the base policy wording, so read them before promising that something is covered.

• Policy limits

  The most a policy will pay for a covered loss. On a homeowners policy that is split into Coverage A for the dwelling, Coverage B for other structures, and Coverage C for contents. Limits apply per occurrence or per policy period depending on the form, so check the declarations page before assuming a scope fits.

Common questions