Basic Limit

Definition of "Basic limit"

Minimum amount of coverage for which a company will write a liability insurance policy.

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Related Real Estate Glossary terms

Time Sharing

Segregation of ownership in real estate property over a stated time period. An example is a co-owned ...

Simple Interest

A transaction in which interest is not paid on interest there is no compounding. For example, if y ...

Evidence Of Insurability

Documentation of physical fitness by an applicant for insurance. Usually this takes the form of a me ...

Statistics

Collection of numbers to record and analyze data such as occurrences of events and particular charac ...

Avulsion

Removal of land by the action of water. See also erosion. ...

Financial Insurance

Structured product designed to meet specific needs of the insured that may involve any of the follow ...

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FAQ

What do I need to know about Watercraft Insurance? What do I need to know about Pet Insurance? What is a loan-to-value (LTD) ratio? What do I need to know about Auto Insurance? What are jumbo mortgages?