Home insurance may seem complicated and the language of insurance policies can be difficult to figure out. You can always work with your agent at Express Insurance, serving Longwood Fl and the surrounding communities, to ask questions and make sure you have adequate home insurance. It is helpful to understand the glossary of important common terms that are used in insurance policies for home insurance.

Here is a list of common terms in alphabetical order:

• Act of God (the legal term is “Force Majeure”) — Something that happens due to uncontrollable natural forces like an earthquake, tornado, or a hurricane.
• Claim — A request made for a loss covered by home insurance
• Deductible — The amount that must be paid first by an insured before the insurance company will pay on a claim.
• Endorsement (also called a “rider”) — This can add or reduce coverage. These are usually found at the end of the policy. They can change the terms contained in the first part of the policy. Read them carefully.
• Exclusion — Things that are not covered by insurance.
• Inflation protection — An automatic adjustment for inflation.
• Lapse — The policy stopped being in effect because premiums were not paid on time.
• Liability Coverage — Protects homeowners for other people’s injuries or property damage.
• Loss of Use — Coverage for the expenses of living somewhere else when the home is being repaired after a disaster.
• Perils — These are the risks. In a “named-peril” policy, the covered risks are listed. In an “all-peril” policy, every loss is covered except those caused by something on the list of exclusions.
• Personal Property — These are items that can be moved, like furniture, clothes, jewelry, appliances, and electronics.
• Replacement Cost — This is the current cost to have a new item that is equivalent to the one that was lost or damaged. It is not the actual value of an old item. It is the cost to buy a new one of the same kind.

Now that you understand some of the terminologies, it is time to ask your agent at Express Insurance in Longwood, FL for a home insurance review or a quote for new home insurance.

Call 407-215-7318 or use the online system to get a quote.