Merit Rating


Definition of "Merit rating"

Yolanda Lowe
  Berkshire Hathaway HomeServices

System of charges to an insured that fluctuates according to the loss experience of that insured. This is a form of experience rating.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Association Group

Bona fide organization that purchases insurance on a group basis on behalf of members. However, a gr ...

Adjusted Premium Method

Method of calculating the life insurance policy's cash surrender value (CSV) not contingent upon the ...

Internal Revenue Code: Section 501 (c)

Portion of the federal tax code that determines which organizations are exempt from federal income t ...

Real Income

Inflation adjusted income relative to be a base period. For example, real rental income is adjusted ...

Contract Chicanery

Inserting provisions into a loan contract that severely disadvantage the borrower, without the borro ...

Dealers Insurance

Coverage on an all risks basis, subject to listed exclusions, for personal property of the insured d ...

Related Real Estate FAQ

What Is Cooperative?

Cooperative is a form of home ownership in which you own shares in a corporation. In return for the ...

What Is Hazard Insurance?

Hazard insurance is insurance coverage that compensates for physical damage to a property from natur ...

What Is A Buyer’s Agent?

An agent hired by buyers to help them find and negotiate the purchase of a home. This agent works fo ...

What Is A Buydown?

A type of financing in which a developer or seller arranges for the buyer to get a loan at a rate be ...

What Is An Amortization?

The process of paying off a loan balance. As you make payments, a certain amount is applied to the p ...

What Does Preapproved Mean?

When you are preapproved, you have a definite commitment from a lender ...

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

Is it better to buy or sell a home first What is the Best Time of Year to Buy a Home? Rent or Buy - the pros and cons Tax Breaks for the First Time Home Buyer 5 signs of house foundation problems

FAQ

How can I protect my Home Office? What is equity? How do I file an Insurance Claim? What is a subdivision? What is a loan-to-value (LTD) ratio?