Named Peril Policy

Definition of "Named peril policy"

Insurance contract under which covered perils are listed. Benefits for a covered loss are paid to the policy owner. If an unlisted peril strikes, no benefits are paid. For example, under the standard fire policy, fire is a particular listed peril. If an insured's home burns, he will be indemnified.

Search Real Estate Glossary

Related Real Estate Glossary terms

Void

Canceling something such as voiding a check that was written. Having no legal consequence such ...

Per Cause Deductible

Requirement that the deductible must be met for each separate illness or accident before benefits ar ...

Real Estate Investment Company

Same as term real estate investment trust (REIT): Type of investment company that invests money in m ...

Stock In Trade

Inventory that is marketed and sold by an entity. ...

Tenancy In Common

Ownership of property by two or more people in undivided interests, without the right of survivorshi ...

Legatee

Person receiving la legacy from a will. Normally a legatee will receive personal property possibly i ...

Related Real Estate FAQ

What Do I Need To Know About Term Life Insurance?

Provides financial protection for a limited, specified period of time, at a lower cost than permanen ...

Should I Pay Points For A Lower Rate?

Paying points for a lower interest rate is a trade off between paying money now versus paying money ...

What Is An Annuity?

An annuity is a long-term, interest-paying contract offered through an insurance company or financia ...

What Are Paid Advertorials?

Paid advertorials are articles written by public relations professionals that have just one goal in ...

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 ...

How Much Income Do I Need ?

Mortgage companies use ratios to analyze your mortgage payment. The housing payment ratio (or front ...

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? Rent or Buy - the pros and cons How To Choose A Realtor 7 Tips for a First Time Homebuyer How Does The Home Loan Underwriting Process Work?

FAQ

What is a debt-to-income ratio? What is a broker? What are jumbo mortgages? What is hazard insurance? What does preapproved mean?