RE/MAX Space Center

Real Estate Glossary Terms

• Coinsurance Clause

  Provision in an insurance policy that caps the insurer's liability by stipulating that the owner of the property that has experienced damage must have another policy that covers usually at least 80% of the cash value of the property at the time of damage, in order to collect the full amount insured. ...

• Leased Fee Estate

  A lease contract to possess a parcel or property for a certain period of time. A leased fee estate is a conditional estate conveyance in real property for a specified period of time. The lease permits the lessee to possess, use and enjoy the property for the specified period. For example, John agree ...

• Cargo Insurance

  Shipper's policies covering one cargo exposure or all cargo exposures by sea on all risks basis. Exclusions include war, nuclear disaster, wear and tear, dampness, mold, losses due to delay of shipment, and loss of market for the cargo. One Cargo Exposure (Single Risk Cargo Policy) covers a single s ...

• Delivery

  Physical handing of an insurance policy to the insured. Sales training emphasizes the importance of delivery of a policy by the agent. This develops a caring attitude on the part of the agent and reinforces the insured's belief that he or she made the right decision in purchasing the policy. ...

• Deposit Term Life Insurance

  Policy in which a premium (the deposit) is paid in the first policy year, in addition to the regular term insurance premiums required. The deposit is left to accumulate at interest for a specific number of years, e.g., 10. Thereafter, the policy owner can receive the deposit plus interest or may ren ...