Definition of "Average rate"

Josephine  Horn real estate agent

Written by

Josephine Hornelite badge icon

Coldwell Banker Residential Real Estate - South Tampa

Applicable rate, in property insurance, of each location multiplied by the value of the real and/or personal property at that location, all of which is divided by the total value of all real and/or personal property at all locations multiplied by their respective rates.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Section of a policy specifying: parties to the contract (the insurance company and the person or business to be insured); terms of the policy when it goes into force, and when it ends; ...

Dishonest statement to induce an insurance company to write coverage on an applicant. If the company knew the truth, it would not accept the applicant. Fraudulent misrepresentation gives a ...

Insurance policy for which the required premium has been paid. ...

Value or property given by an individual directly to a donee (recipient of the gift), for example, when a father gives a life insurance policy with all ownership rights to his son. ...

Holding company established by a mutual insurance company. The mutual insurance company has 100% ownership of the holding company. ...

Net income expressed as a percentage of average total equity. This percentage measures profitability by expressing how efficiently invested capital or equity is being utilized. ...

1965 federal law that provides for medical assistance to those who cannot afford to pay for it. Four categories of the needy can qualify: aged, blind, disabled, and families with dependent ...

Agreement named after the city of Boston under which insurance companies insure real property in lower socioeconomic neighborhoods if property owners correct any hazards found upon ...

Explicit liability reserve, required by the national association of insurance commissioners (naic), established for all invested asset classes. Specific reserves are established for real ...

Popular Insurance Questions