Concierge Insurance.
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Common terms from your policies — short definitions, examples, and which coverages they relate to.
27 terms
Earned premium is the portion of premium corresponding to the time coverage has already been provided.
Earned Premium is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with All Insurance Types. For business insurance customers, understanding Earned Premium can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Earned Premium depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Earthquake coverage insures damage from earthquake or earth movement, usually by endorsement or separate policy.
Earthquake Coverage is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Homeowners, Commercial Property. For personal insurance customers, understanding Earthquake Coverage can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Earthquake Coverage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
The effective date is the date coverage begins under a policy, endorsement, binder, or renewal.
Effective Date is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with All Insurance Types. For business insurance customers, understanding Effective Date can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Effective Date depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Electronic data processing coverage insures computer hardware, software, data, and related equipment against covered causes of loss.
Electronic Data Processing Coverage is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Commercial Property, Inland Marine. For powersports insurance customers, understanding Electronic Data Processing Coverage can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Electronic Data Processing Coverage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
An elimination period is the waiting period before disability, long-term care, or similar benefits begin.
Elimination Period is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Disability, Long-Term Care. For benefits insurance customers, understanding Elimination Period can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Elimination Period depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Emergency medical evacuation covers medically necessary transportation to an appropriate medical facility or back home after serious illness or injury while traveling.
Emergency Medical Evacuation is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Travel Insurance, Health. For benefits insurance customers, understanding Emergency Medical Evacuation can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Emergency Medical Evacuation depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Employee benefits liability covers errors or omissions in administering employee benefit plans.
Employee Benefits Liability is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with General Liability, Employee Benefits. For benefits insurance customers, understanding Employee Benefits Liability can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Employee Benefits Liability depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Employee dishonesty coverage protects a business from loss of money, securities, or property caused by dishonest employee acts.
Employee Dishonesty is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Crime Insurance, Business Insurance. For business insurance customers, understanding Employee Dishonesty can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Employee Dishonesty depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Employers liability protects the employer against certain employee injury lawsuits not covered by workers compensation benefits.
Employers Liability is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Workers Compensation. For business insurance customers, understanding Employers Liability can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Employers Liability depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Employment practices liability covers claims alleging wrongful employment acts such as discrimination, harassment, retaliation, or wrongful termination.
Employment Practices Liability is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with EPLI, Business Insurance. For business insurance customers, understanding Employment Practices Liability can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Employment Practices Liability depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
An endorsement is a written change to a policy that adds, removes, or modifies coverage, terms, exclusions, limits, or insured parties.
Endorsement is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with All Insurance Types. For business insurance customers, understanding Endorsement can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Endorsement depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Equipment breakdown coverage applies to sudden and accidental mechanical, electrical, or pressure-system breakdown of covered equipment.
Equipment Breakdown Coverage is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Homeowners, Commercial Property, Business Owners Policy. For personal insurance customers, understanding Equipment Breakdown Coverage can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Equipment Breakdown Coverage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
An equipment floater covers mobile equipment that moves between locations, such as contractor or farm equipment.
Equipment Floater is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Inland Marine, Farm, Contractors. For powersports insurance customers, understanding Equipment Floater can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Equipment Floater depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Errors and omissions insurance is professional liability coverage for mistakes, negligence, inadequate work, misrepresentation, or failure to provide promised services.
Errors and Omissions is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Professional Liability, Technology, Real Estate, Insurance Agencies. For business insurance customers, understanding Errors and Omissions can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Errors and Omissions depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Escrowed insurance is premium collected and paid through a mortgage escrow account.
Escrowed Insurance is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Homeowners, Flood, Mortgage. For personal insurance customers, understanding Escrowed Insurance can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Escrowed Insurance depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Event cancellation insurance covers financial loss if an event is canceled, postponed, or interrupted by a covered cause.
Event Cancellation Insurance is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Special Event, Entertainment. For business insurance customers, understanding Event Cancellation Insurance can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Event Cancellation Insurance depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Excess liability provides additional limits above underlying policies and may follow the underlying terms more closely than a true umbrella.
Excess Liability is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Commercial Excess, Personal Excess. For business insurance customers, understanding Excess Liability can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Excess Liability depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
An excluded driver is specifically removed from coverage under an auto policy; claims may be denied if that person operates the vehicle.
Excluded Driver is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Personal Auto, Commercial Auto. For personal insurance customers, understanding Excluded Driver can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Excluded Driver depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Excluded property is property specifically not covered by a policy.
Excluded Property is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Property Insurance. For business insurance customers, understanding Excluded Property can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Excluded Property depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
An exclusion is policy language that removes coverage for certain causes of loss, property, people, activities, events, or circumstances.
Exclusion is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with All Insurance Types. For business insurance customers, understanding Exclusion can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Exclusion depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
An experience modification factor adjusts workers compensation premium based on an employer's loss history compared with similar businesses.
Experience Modification Factor is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Workers Compensation. For business insurance customers, understanding Experience Modification Factor can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Experience Modification Factor depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Experience rating uses an insured's own past loss experience to adjust premium.
Experience Rating is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Workers Compensation, Commercial Insurance. For business insurance customers, understanding Experience Rating can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Experience Rating depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
The expiration date is the date coverage ends unless renewed, extended, or replaced.
Expiration Date is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with All Insurance Types. For business insurance customers, understanding Expiration Date can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Expiration Date depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Exposure is a measure of risk used for rating or underwriting, such as payroll, sales, vehicles, property value, or employees.
Exposure is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with All Insurance Types. For business insurance customers, understanding Exposure can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Exposure depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Exposure basis is the unit used to calculate premium, such as payroll, sales, area, or number of vehicles.
Exposure Basis is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Commercial Insurance. For business insurance customers, understanding Exposure Basis can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Exposure Basis depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
An extended reporting period allows claims to be reported after a claims-made policy ends for acts that occurred before expiration and after any retroactive date.
Extended Reporting Period is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Professional Liability, Cyber Liability, EPLI. For business insurance customers, understanding Extended Reporting Period can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Extended Reporting Period depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Extra expense coverage helps pay reasonable additional costs incurred to continue or restore operations after a covered property loss.
Extra Expense Coverage is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Commercial Property, Business Owners Policy. For business insurance customers, understanding Extra Expense Coverage can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Extra Expense Coverage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
