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Term. Meaning. Named insured. A named insured, or driver, is usually the main policyholder. They pay the premiums and have full control over the policy.
The cost of adding an additional insured to a property or liability insurance policy is generally low, as compared to the costs of the original premium. The underwriting departments of insurance companies, rightly or wrongly, often view the additional risk associated with additional insureds as marginal. Additional insurance coverage and ...
A homeowners insurance declarations page is a snapshot of the home insurance policy that includes vital information about the insurance company and policy. By reviewing your declarations page, you ...
An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and ...
An insurance policy is a contract where the homeowner and insurance company agree that in exchange for a premium payment, the insurance company will provide compensation for the repairs or ...
It should only contain pages that are Types of insurance or lists of Types of insurance, as well as subcategories containing those things (themselves set categories). Topics about Types of insurance in general should be placed in relevant topic categories .
A guide to help you understand homeowners insurance policies and coverage types. ... HO-4 policies also typically include additional living expenses coverage and liability coverage.
S is the sum assured (face amount) A is an assurance function; NP is the net premium for that sum assured; a is an annuity function; E (used in the Zillmer adjustment below) is the initial expenses; So the reserve is the present value of future benefits less the present value of future notional net premiums.