Policy 2


Definition of "Policy"

Written agreement that puts insurance coverage into effect.

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Popular Real Estate Terms

Insurer

Company offering protection through the sale of an insurance policy to an insured. ...

Compensating Balances Plan

Premium paid by an insured business to an insurance company from which the company subtracts charges for the cost of putting a policy on its books, pr ...

Admiralty Proceeding

Conducting of maritime suits involving ocean marine insurance policy claims before an admiralty court. ...

Delay Clause

In cash value life insurance policies, provision that allows the insurance company to refuse the policyholder a loan on the cash value for a period of ...

Watercraft Nonowned Insurance

Endorsement to commercial general liability insurance (CGL) for a business responsible for boats it does not own. Whether the boats are leased from an ...

Premium Receipt

Written evidence given to a policyowner by an insurance company or insurance agency that it has received a premium. ...

Popular Real Estate FAQ

What Is Homeowners Insurance?

Homeowners insurance is an insurance policy that combines personal liability insurance and hazard insurance coverage for a residence and its contents. ...

What Is A Basic Policy?

A basic policy is a homeowners insurance policy that covers certain perils. ...

What Is An Annuity?

An annuity is a long-term, interest-paying contract offered through an insurance company or financial institution. An annuity can be \"deferred\" as a ...

What Is Comprehensive Homeowners Insurance?

Comprehensive is the most expensive type of homeowners insurance; it covers the most potential damages such as fire damage, water damage not caused by ...

What Do I Need To Know About Renters Insurance, And What Does It Cover?

You might think, \"Why do I need insurance, I\'m renting?\" Well, even though your landlord probably has an insurance policy on your building, you\'ll ...

Do I Need Earthquake Insurance?

If you live in an Earthquake zone. Yes! Typically most homeowners insurance insurance coverage would apply as rider. If it is not available under your ...

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