The following is a list of commonly used terms compiled for the convenience of our customers. It is not intended to replace or supplant language specific to your policy.

• Homeowners Policy - the contract specific to a home which is primary or secondary but not rented to others. Covers common perils, includes liability and medical payments to others. Cover property and contents.
• Dwelling Policty - the contract specific to a home which may be rented to others. Coverages are purchased as needed by the owner. Includes liability and medical payments to others. May cover contents.
• Wind - the common term used for hurricane
• Other Wind - the common term used for wind events not hurricane such as a tornado or a water spout
• Builders Risk - Policy taken out when a home is being contructed. Typically it is taken out by the builder. The builder may report this on a continuous reporting form or a a "one spot". They offer no liability to the homeowner who should extend liability from an existing homeowners policy for coverage.
• Umbrella Policy (Personal) - a coverage that extends liability above an underlying liability policy providing the insured with an "extra layer" of protection
• Earned Premium - The amount of the policy premium that is "used up" in a term at cancellation and some are "100% earned" so that no money is returned if cancelled prior to the end of the term.
• Cancellation - A policy is cancelled typically due to an underwriting error or non-payment before a term is up
• Flat Cancel - the policy written is considered to have never been in force. All monies are returned.
• Non-renewed - Decision made by a company to non-renew for a consecutive term typically due to exposure not acceptable to company such as "distance to water" shich was acceptable at the time of writing.
• Endorsement - Any change to a policy; may affect premium such as an increase in coverage or not affect coverage such as a change in lender
• Mortgage Clause - the name and address of the lender which is listed as such on a policy in which they have an interest
• Deductible - the amount deducted from a claim payment; selected by the insured but approved by the lender

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