Property or liability insurance that provides coverage up to the policy’s limit regardless of any other polices that may be in effect.
A term used to distinguish personal insurance from business or commercial lines insurance. Typically it is insurance meant to protect an individual or family such as home, health, life or auto insurance.
An addition to an insurance policy that makes amendments stating the expansion or limitation of benefits payable under the contract.
A clause that states that a claim is jointly payable to both the policy holder and to the entity that holds mortgage on the property.
A request made to an insurance company seeking payment for damages covered under their policy.