Crop Insurance
Coverage for crops in the event of loss or damage by insured perils including hail, fire, and lightning. Prior to the passage of the Federal Crop Insurance Act in 1938 it was virtually impossible to obtain insurance protection against crop damage. Today coverage is available from the Federal Crop Insurance Corporation as well as from private sources. Exclusions from coverage include the perils of war and nuclear disaster.
Popular Insurance Terms
Assistance program for the financially needy. Medicaid, also referred to as Title XIX of the Social Security Act, was enacted in 1965 at the same time as medicare. It is a joint ...
Buy-sell agreements found in partnerships, sole proprietorships, and close corporations. Either the business entity or the surviving members of the business agree to buy out the interest of ...
Coverage of a single life, in contrast to group life insurance, which covers many lives. ...
Individual or organization that is a potential purchaser of an insurance product. ...
Same as term Expected Loss: probability of loss upon which a basic premium rate is calculated. ...
Portion of a premium paid by an insured that has been allocated to the insurance company's loss experience, expenses, and profit year to date. ...
Coverage for all kinds of personal property whether inside or outside an insured's (home) to include jewelry, musical instruments, cameras, fine arts, and precious stones. The insurance ...
Representation of ownership rights such as stocks. ...
Rate applied when two or more separate buildings are insured under one policy, and/or when two or more separate contents are insured under one policy. ...
Have a question or comment?
We're here to help.