Minimum Rated Risk
Definition of "Minimum rated risk"
In insurance, charging the lowest rate accorded an insurance policy covering a minimum risk classification situation. For example, a homeowner's insurance for a home located within 500 feet of a fire hydrant, having smoke detectors, a burglar alarm, and constructed from fireproof material may qualify for the minimum rated risk.
Popular Real Estate Terms
Latin term meaning something in exchange for something else. For example, a person rushes through an order for another in return for having first choice in selecting a parcel of ...
Latin term meaning legal capacity to act on behalf of oneself. ...
Records maintained as evidence of ownership of the home and any of its contents. ...
An Act, passed by congress in order to prevent the practice of redlining and disinvestments in central city areas. Redlining is a practice in which lenders refuse to make loans in certain ...
Extended area of land commonly held for subdividing and development into residential units. ...
A provision not explicitly stated in an agreement, but considered as an important item. For example, the buyer of a home anticipates it to meet seller's claims as to condition and use. ...
Amount invested in property in cash. ...
Increase in the value of property caused by inflation. For example, John buys a home for $150,000. Because of inflation, the home is worth $200,000 five years later. The inflation equity in ...
Local zoning law or private limitation on how far in feet a structure might be situated from the curb or other appropriate marker. ...
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