Minimum Rated Risk


Definition of "Minimum rated risk"

John Stivey Realtor, <br><b>G.R.I. - P.S.A.</b>
  Station Square Realty

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.


Search Real Estate Glossary

 

Related Real Estate Glossary terms

Self-insured Excess Plan

Plan for excess layer (s) of insurance coverage over the primary coverage, for example, if a corpora ...

Pledgee

Individual to whom a mortgage, or property, is pledged. ...

Marketing

Creation of a demand for a company's products, its distribution, and services for customers who purc ...

Date Of Subscription Of The Policy

Specific time at which the insurance policy coverage begins and ends. ...

Assistive Technology

Items, equipment, or systems used to increase, improve, or maintain the capabilities of people with ...

Pure Premium Rating Method

Approach that reflects losses expected. It is a calculation of the pure cost of property or liabilit ...

Related Real Estate FAQ

Do I Need Earthquake Insurance?

If you live in an Earthquake zone. Yes! Typically most homeowners insurance insurance coverage would ...

What Is An Adjustable-rate Mortgage (ARM)?

A type of mortgage in which the interest rate is keyed to a certain economic index and is adjusted a ...

What Is Title Insurance?

Title insurance is insurance that protects the lender and buyer against any losses incurred from dis ...

Should I Consolidate My Debt?

Discover your potential monthly savings by combining your bills into a single source. Eliminate high ...

What Should I Do If I'm In An Accident?

1.- Stay Calm. Determine the injuries and or damage. 2.- Call the police. File an accident report ...

How Much Money Can I Borrow To Buy A Home?

To begin, you\'ll need to figure out what your gross income is (before taxes) monthly and yearly. T ...

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

Rent or Buy - the pros and cons What is Hazard Insurance? Mortgage Loan Types Home Prices - The Extra Costs 7 Tips for a First Time Homebuyer

FAQ

What do I need to know about Whole Life Insurance? What do I need to know about Auto Insurance? What is a loan-to-value (LTD) ratio? What does preapproved mean? What is principal?