Insurance Broker

Definition of "Insurance broker"

Representative of an insured, not of an insurance company. Acts of a broker are not the responsibility of the company, and notice given by an insured to a broker is not the same as notice to the company. The broker searches the insurance marketplace for a company in which to place the insured's business for the most coverage at the best price. The broker is not restricted to placing business with any one company.

Search Real Estate Glossary

Related Real Estate Glossary terms

Adjuster

Individual employed by a property and casualty insurance company to settle on its behalf claims brou ...

College Retirement Equities Fund (cref)

Entity maintained by the Teachers Insurance Annuity Association. The fund essentially serves college ...

Outboard Motor Boat Insurance

Coverage on an all risks basis for physical damage loss. Coverage applies to property damage to the ...

Eviction, Constructive

The altering of a rented or leased premises by a landlord rendering it unsuitable for habitation in ...

Debenture

Unsecured long-term debt. There is no collateral or lien on the property. A debenture can only be ...

Degree Of Care

Minimum of care owed by one party for the physical safety of another. Liability suits are brought be ...

Related Real Estate FAQ

What Is A Lease Purchase Mortgage?

A lease purchase mortgage is a financing option that allows potential homebuyers to lease a property ...

What Is A Default?

A default is when a person fails to make payments on a loan. ...

What Is A Closing?

The process of finalizing all the dealing associated with the sale and purchase of a home. (Also kno ...

What Does FSBO Mean?

FSBO means for sale by owner. ...

What Is The Tax Benefits Of Buying A Home?

RealEstateAgent.com calculator estimates the tax benefit of buying a home. Input your loan parameter ...

What Is An Appreciation?

Changes in the market conditions, or improvements to the property that increase the value of the pro ...

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

Agents join here

Add our widget on your Website

Real Estate Advice

What do Real Estate Attorneys do? 5 signs of house foundation problems How To Sell Your Home Home Prices - The Extra Costs Should you Buy a Home with Cash?

FAQ

What is a cap? What is a qualifying ratio? What is accession? What is a negative amortization? What is a Good Faith Estimate?