First Policy Year


Definition of "First policy year"

Michelle Houze
  RE/MAX Platinum Realty

Year in which an annually renewable insurance policy was first issued.


Search Real Estate Glossary

 

Related Real Estate Glossary terms

Discontinuance Of Plan

Termination of a plan. Under federal tax law, a plan can only be terminated for reasons of business ...

Bi-level

Two-story house where the front door is located above the first floor but below the second floor. ...

Confiscation

(1) Government seizes private property, but does not provide fair and reasonable compensation for it ...

Commercial Multiple Peril

Same as term Commercial Package Policy (CPP): insurance policy that is commercial lines in orientati ...

Month-to Month Tenancy

A tenancy in which no written lease is involved, rent being paid monthly. It can be renewed for each ...

Base Rent

Monthly fixed rental payment. ...

Related Real Estate FAQ

What Is A Front-end Ratio?

A front-end ratio is a ratio of the borrowers monthly housing expenses-including principal, interest ...

What Is A Loan Origination Fee?

A loan origination fee is a fee charged by the lender-usually 1 percent of the loan amount. ...

What Is Accession?

The right of a property owner to have and enjoy all of the advantages of property ownership includin ...

Should I Consolidate My Debt?

Discover your potential monthly savings by combining your bills into a single source. Eliminate high ...

Do I Need Life Insurance?

Whether you are a .boomer. an .X-er. or an .empty Nester. it is never to or too late . to think abou ...

What Is An APR And What Does It Include?

An APR stands for an ANNUAL PERCENTAGE RATE. This rate includes the costs of any points paid, mortga ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

What Must I Disclose When Selling My Home? What is the Best Time of Year to Buy a Home? Rent or Buy - the pros and cons 5 signs of house foundation problems Should you Buy a Home with Cash?

FAQ

How much Life Insurance do I need? What is a gated community? What does preapproved mean? What is principal? What is an escrow officer?